The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships
The article presents the development of residential and commercial real estate in Poland and its 16 voivodships. This is closely linked to the economic development of the regions. The first part shows how the stock of this real estate grew on a national scale and how their values changed. The secon...
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| Format: | Article |
| Language: | English |
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Akademia Zamojska
2017-12-01
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| Series: | Barometr Regionalny |
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| Online Access: | https://czaz.akademiazamojska.edu.pl/index.php/br/article/view/434 |
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| author | Jacek Łaszek Robert Leszczyński Krzysztof Olszewski |
| author_facet | Jacek Łaszek Robert Leszczyński Krzysztof Olszewski |
| author_sort | Jacek Łaszek |
| collection | DOAJ |
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The article presents the development of residential and commercial real estate in Poland and its 16 voivodships. This is closely linked to the economic development of the regions. The first part shows how the stock of this real estate grew on a national scale and how their values changed. The second part analyzes the change in the stock of residential and commercial real estate (office and commercial property) in particular voivodships. Dependencies are noted. The residential areas developed in a similar manner in different voivodships, with supply increasing with a delay of about two years after economic growth. This can be explained by the fact that when the economic situation of households improves, they want to improve their housing situation. On the other hand, the development of commercial space is accompanied by economic development with a one-year delay. Taking into account that the process of physical construction takes about 2 years, this implies the existence of a strong endogeneity between employment in the service or retail sectors and income growth. This endogeneity acts as feedback (revenue growth is an increase in surface area, which in turn generates income), so the cause and effect have slight time delays. The development of commercial real estate in individual voivodships intensified in different periods. This is probably connected with the inflow of foreign capital, which first came to Warsaw and the Warsaw agglomeration, then to large centers (Trójmiasto, Poznań) and only with some delay to other voivodships.
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| format | Article |
| id | doaj-art-d2c922a0608342bcb6a2f6d346799cf8 |
| institution | DOAJ |
| issn | 2956-686X |
| language | English |
| publishDate | 2017-12-01 |
| publisher | Akademia Zamojska |
| record_format | Article |
| series | Barometr Regionalny |
| spelling | doaj-art-d2c922a0608342bcb6a2f6d346799cf82025-08-20T03:15:42ZengAkademia ZamojskaBarometr Regionalny2956-686X2017-12-0115210.56583/br.434The Development of Residential and Commercial Real Estate, and Economic Development in Polish VoivodshipsJacek Łaszek0Robert Leszczyński1Krzysztof Olszewski2Narodowy Bank PolskiNarodowy Bank PolskiNarodowy Bank Polski The article presents the development of residential and commercial real estate in Poland and its 16 voivodships. This is closely linked to the economic development of the regions. The first part shows how the stock of this real estate grew on a national scale and how their values changed. The second part analyzes the change in the stock of residential and commercial real estate (office and commercial property) in particular voivodships. Dependencies are noted. The residential areas developed in a similar manner in different voivodships, with supply increasing with a delay of about two years after economic growth. This can be explained by the fact that when the economic situation of households improves, they want to improve their housing situation. On the other hand, the development of commercial space is accompanied by economic development with a one-year delay. Taking into account that the process of physical construction takes about 2 years, this implies the existence of a strong endogeneity between employment in the service or retail sectors and income growth. This endogeneity acts as feedback (revenue growth is an increase in surface area, which in turn generates income), so the cause and effect have slight time delays. The development of commercial real estate in individual voivodships intensified in different periods. This is probably connected with the inflow of foreign capital, which first came to Warsaw and the Warsaw agglomeration, then to large centers (Trójmiasto, Poznań) and only with some delay to other voivodships. https://czaz.akademiazamojska.edu.pl/index.php/br/article/view/434residential real estatecommercial real estatedevelopment of regions |
| spellingShingle | Jacek Łaszek Robert Leszczyński Krzysztof Olszewski The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships Barometr Regionalny residential real estate commercial real estate development of regions |
| title | The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships |
| title_full | The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships |
| title_fullStr | The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships |
| title_full_unstemmed | The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships |
| title_short | The Development of Residential and Commercial Real Estate, and Economic Development in Polish Voivodships |
| title_sort | development of residential and commercial real estate and economic development in polish voivodships |
| topic | residential real estate commercial real estate development of regions |
| url | https://czaz.akademiazamojska.edu.pl/index.php/br/article/view/434 |
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