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The Effect of Revitalisation on the Value of Residential Premises in Historic Urban Layouts

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  • Bieda Agnieszka

    (Department of Photogrammetry, Remote Sensing of Environment and Spatial Engineering, Faculty of Geo-Data Science, Geodesy, and Environmental Engineering, AGH University of Krakow, al. Adama Mickiewicza 30, 30-059 Kraków, Poland)

  • Maniak Weronika

    (Kataster – surveying and cartographic services, Buchcice, Poland)

Abstract

The aim of this research was to analyze the effects of revitalization activities performed in a selected historical urban layout using the mixed method in which statistical analysis was supported by Geographic Information System (GIS) tools on the price level of residential premises on the secondary market. The subject of the analyses is “Old” Nowa Huta (Krakow, Poland), which was designed as an ideal independent city in the mid-20th century. The analysis covered the period from January 1, 2007 to December 31, 2020. The conducted analyses have demonstrated that the transaction prices (and hence the value) of residential premises located in “Old” Nowa Huta increased during the performed revitalization activities. However, based on the results obtained, it could not be confirmed that this was the direct result of the revitalization itself, because the price level within the research site increased in proportion to the rising prices in the entire city. It seems, however, that although the changes in the quality of space in the analyzed area are not spectacular, they serve to improve the quality of life of the local community and are one of the ways to protect this historic urban layout.

Suggested Citation

  • Bieda Agnieszka & Maniak Weronika, 2024. "The Effect of Revitalisation on the Value of Residential Premises in Historic Urban Layouts," Real Estate Management and Valuation, Sciendo, vol. 32(1), pages 95-113, March.
    • Handle: RePEc:vrs:remava:v:32:y:2024:i:1:p:95-113:n:7
    DOI: 10.2478/remav-2024-0011
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    Keywords

    heritage; market analysis; residential premises; revitalization program; value map;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R39 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other

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