Abstract
Real estate, in modern times, is exclusive merchandise, because it is in limited supply and is relatively high-priced compared with goods such as food, clothing, luxury goods. Properly conducted spatial planning can bring measurable benefits to both citizens and investors. This study aims to explore the directions of spatial development in the city of Lublin through an analysis of undeveloped properties sold over a study period of twenty-one months. The main objective of the study was to assess the conditions of spatial development in the city. Data from the Register of Prices and Values for Real Estates were analyzed and visualized cartographically. The number of sales of real property located on the outskirts of the city was far larger than for property situated in the central part of the area studied. During the analyzed period, a total area of 0.8895 km2of land was sold in Lublin, which represents about 0.6% of the entire city area. Vast areas were sold in the districts located on the outskirts. Unsurprisingly, the smallest percentage of land was sold in the central part of the city. The trends observed on the undeveloped real estate market are helpful in assessing the level of suburbanization or urban-sprawl. Besides, the usefulness of cartographic methods for real estate market studies was stressed.
Highlights
In cities, the course of spatial development depends mostly on local government laws [1]
Resolutions made with respect to local spatial management plans affect the behaviour of entities participating in the real estate market [2]
In modern times, is exclusive merchandise, because it is in limited supply and is relatively high-priced compared with goods such as food, clothing, luxury goods, etc
Summary
The course of spatial development depends mostly on local government laws [1]. Resolutions made with respect to local spatial management plans affect the behaviour of entities participating in the real estate market [2]. Individual buyers, beside spatial planning resolutions, pay much attention to the localization of the property, the neighborhood, and the shape of the plot [3]. The allocation of resources is a classic market mechanism, so in this specific context, a decision to purchase real estate is determined by its price [6,7]. This interpretation of the market mechanism leads to a large simplification, though. Real estate data is this kind of data because the properties are located in space
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