Development activity in Poland began to increase in the 1990's as a result of market-oriented reforms, with the process continuing to this day. The beginnings were, however, not easy due to, among others, the absence of many important legal regulations and the lack of commercial financing. The situation changed in the second half of the 1990's, positively affecting residential development activity. The years 2008 - 2009 were particularly relevant in the course of the studied trend as a sharp increase in the number of completed developer-built residential dwelling units was recorded at this time. After this period, a decline in the number of dwelling units completed by developers was recorded, which indicates its strong dependence on changes in the economic environment. Fluctuations in the number of dwelling units completed by developers were also visible before Poland's accession to the European Union. This means that the diversity of development activity is influenced by many factors. The available literature generally states that the growth of the real estate market depends on demand. Effective demand for real estate is understood as the number of people who are willing and financially able to buy or rent a particular kind of property at different prices, at a given time and in a given market. Therefore, it can be assumed that local factors have a particular impact on the growth of development activity. However, the question arises as to which of the many local factors are important to the growth of development activity and what factors can be used by local authorities to more effectively stimulate the growth of residential housing in their area. The aim of the paper is to determine by means of econometric instruments the significance of the impact of individual local factors on development activity in the residential housing market in the largest cities of Poland.
The coronavirus pandemic has influenced cities’ shape and future. Telecommuting, teleconferencing, telelearning and e-commerce are creating a new environment of human life. These new factors should be added to the existing problems of urbanisation that are urban sprawl and depopulation. The authors of the paper decided to examine the intensity and spatial distribution of residential construction activity and residential real-estate trade in one of the biggest Polish cities – Łódź – and neighbouring municipalities to answer the question of whether the pandemic has affected housing decisions taken by developers and buyers. Based on statistical data, attempts were made to observe new signs confirming the intensification or weakening of past trends. The research was based on desk research and comparative analysis.
Development activity is primarily characterized by high capital intensity. Developers implementing a venture in the residential market make use of not only their own funds but also capital from potential buyers. Therefore, developers should carefully analyze the markets in which they intend to conduct their business activity. This particularly applies to developers operating on an international scale. Local developers often understand the market situation in a given area enough to be able to successfully assess whether their products will find buyers. Foreign developers, however, deciding in which country and subsequently, in which region, to start their business activity, should base their analysis on reliable statistical data concerning demand, supply, prices, and the absorption rate. The aim of the article is therefore to assess the availability of statistical data necessary for conducting a market analysis for the needs of development activity in individual countries of the European Union and the United Kingdom.
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