Purpose: The objective of this study involves the determination of cyclical characteristics that occur on the European construction market. Design/Methodology/Approach: In the research implementation process, time-frequency analysis was used to identify and analyze cyclicalities in the construction market. Findings: The results clearly demonstrate the absence of a homogeneous construction market in the investigated countries. The diversity of the European construction market is revealed by the various responses to the periods corresponding to the ups and downs of the economy. Practical Implications: The present research provides grounds for the clear indication of specific countries and cyclical characteristics on the construction market in them to define guidelines suitable for the identification of adequate scenarios for the development of construction markets in them. Originality/value: The conclusion derived from the study is associated with the classification of construction markets and identification of various responses of individual markets to the occurrence of macroeconomic or microeconomic stimuli.
The aim of this research is to analyse the correlation between public intervention in Poland within the Regional Operational Programmes and the key macroeconomic variables for the sustainable development of regions, i.e., the labour market, with particular emphasis on the unemployment rate and the level of employment; the average monthly remuneration; the residential construction market, with particular emphasis on the number of permits issued for the construction of apartments and the number of apartments under construction. The research and the analyses carried out on the basis of the above-mentioned aspects made it possible to indicate the relations between the studied macroeconomic indicators and the EU funds spending in Polish provinces, which will enable the implementation of the sustainable development policy. The capitals used in the research process are very important components of the region’s and country’s sustainable development. In the research, a calculation methodology was applied based on the analysis of time variability of the examined determinants, their correlation and regression relationships. The tools and methods of data analysis used allowed the quantification of the relationship between the macroeconomic determinants studied and the pace and value of payments made. The conducted analyses have shown a positive influence of the payments made in Poland within the framework of Regional Operational Programmes on selected macroeconomic indicators, i.e., regional economic and social-institutional capitals. The research results obtained may have a practical decision-making aspect for regional and national authorities responsible for the disbursement of EU funds.
This article identifies seasonality profiles for three stages of housing construction. The profiles were determined as average monthly values obtained for permits issued for the construction of new apartments, for apartments whose construction has begun, and for apartments put into operation. The research process showed that there are differences in seasonality profiles between investments carried out by individual investors and those who build apartments for sale or rent. The research clearly showed that the development of reports and analyses for the housing market should include a breakdown of the market for the activities of individual developers as well as those operating as investments. Unfortunately, at present, reports on the real estate market are developed in total terms, which significantly reduces their utilitarian application. Taking into account the recommendations of the research will allow for sustainable development of the housing market in such a way that the market will strengthen its resilience to the occurrence of cyclical fluctuations, among other things.
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