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From Administrative Price to Market Value of Real Estate. The Evolution of the Valuation System in Poland

Author

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  • Źróbek Sabina

    (Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, ul. Michała Oczapowskiego 2, 10-719 Olsztyn, Poland)

  • Renigier-Biłozor Małgorzata

    (Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, ul. Michała Oczapowskiego 2, 10-719 Olsztyn, Poland)

  • Źróbek Ryszard

    (Faculty of Geoengineering, University of Warmia and Mazury in Olsztyn, ul. Michała Oczapowskiego 2, 10-719 Olsztyn, Poland)

Abstract

The article applies the method of historical research, using a temporal perspective dating back to 1985, to trace the evolution of market valuation principles for real estate in Poland. These principles evolved similarly to those in many other post-socialist countries, influenced by political and socio-economic transformations and the resulting list of objectives for which these values became essential. The changing legal regulations allowing for the emergence and development of a free real estate market played a decisive role in this process. It was also a period of preparing real estate valuation professionals to meet these requirements. Today, the methodology of valuation, under increasing pressure from various real estate market entities and the rapid advancement of intelligent data collection and processing technologies, is undergoing further evolution. In many countries, including Poland, lively discussions and disputes are ongoing regarding the legal authorization of statistical tools and automated valuation models in valuation practice. These possibilities are being considered particularly in the context of mass property valuations for tax purposes. The methodology involves the analysis of Polish legal provisions, foreign literature, and documents proving the gradual marketization of valuation principles.

Suggested Citation

  • Źróbek Sabina & Renigier-Biłozor Małgorzata & Źróbek Ryszard, 2024. "From Administrative Price to Market Value of Real Estate. The Evolution of the Valuation System in Poland," Real Estate Management and Valuation, Sciendo, vol. 32(3), pages 127-142.
    • Handle: RePEc:vrs:remava:v:32:y:2024:i:3:p:127-142:n:1010
    DOI: 10.2478/remav-2024-0030
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    References listed on IDEAS

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    1. d’Amato, Maurizio & Zrobek, Sabina & Renigier Bilozor, Malgorzata & Walacik, Marek & Mercadante, Giuseppe, 2019. "Valuing the effect of the change of zoning on underdeveloped land using fuzzy real option approach," Land Use Policy, Elsevier, vol. 86(C), pages 365-374.
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    More about this item

    Keywords

    evolution of valuation methodology; market value; cadastral value; real estate market; mass appraisal;
    All these keywords.

    JEL classification:

    • R29 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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