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Grey Zone in the Real Estate Market

Author

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  • Kucharska-Stasiak Ewa

    (Faculty of Economics and Sociology, University of Lodz)

Abstract

The grey area exists in all countries of the world. It is visible in various areas of activity, which means that it is widespread. It is a sign of the weak state institutional structures and overregulation of the economy. Traces of it are also visible on the real estate market. This paper argues that the size of the shadow economy in the real estate market is significantly undervalued. For this purpose, areas of its occurrence which had not been included in previous estimates were indicated, prepared by the Central Statistical Office and the Gdansk Institute for Market Economics. Two ways of tracking the grey zone were used: press reports and case studies.

Suggested Citation

  • Kucharska-Stasiak Ewa, 2016. "Grey Zone in the Real Estate Market," Real Estate Management and Valuation, Sciendo, vol. 24(3), pages 83-92, September.
    • Handle: RePEc:vrs:remava:v:24:y:2016:i:3:p:83-92:n:7
    DOI: 10.1515/remav-2016-0023
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    References listed on IDEAS

    as
    1. Benno Torgler & Friedrich Schneider & Christoph Schaltegger, 2010. "Local autonomy, tax morale, and the shadow economy," Public Choice, Springer, vol. 144(1), pages 293-321, July.
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    3. Tanzi, Vito, 1999. "Uses and Abuses of Estimates of the Underground Economy," Economic Journal, Royal Economic Society, vol. 109(456), pages 338-347, June.
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    5. Christopher Bajada & Friedrich Schneider, 2009. "Unemployment and the Shadow Economy in the oecd," Revue économique, Presses de Sciences-Po, vol. 60(5), pages 1033-1067.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    grey economy; informal economy; real estate market;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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