Abstract
Abstract In recent years, there has been a strong interest in land intended for single-family housing in the suburban zones of big cities. This is strongly related to the suburbanization process. In the present study, the author endeavored to present the differentiation of local markets of undeveloped real estate intended for single-family housing in the suburban zones of Poznań. Notary deeds related to sales transactions in the segment of undeveloped land plots were the basic source of information used in the article. The article shortly discusses the specifics of the land market in the suburban zone, presents the research method (the nature of the real estate prices index) and then, creates a regression function of plot prices and indicates hedonic prices for undeveloped plots intended for single-family housing in particular communes. Finally, it seeks to define the similarities and differences within the local undeveloped property market in the Poznań agglomeration.
Highlights
The system transformation in Poland caused rapid development of the property market
The author endeavours to present the differentiation of the local market of undeveloped plots intended for single-family housing in the Poznań suburban area (17 communes within Poznań County)
In the above described study, the author endeavoured to present the differentiation in the development of the local undeveloped property market intended for single-family housing in the Poznań suburban zone
Summary
An important segment of the property market is the market of land intended for single-family housing. The author endeavours to present the differentiation of the local market of undeveloped plots intended for single-family housing in the Poznań suburban area (17 communes within Poznań County). As a result of the long and thorough study of notarial deeds from the County Center of Land Surveying and Cartography Documentation in Poznań, a database was created encompassing sales transactions of undeveloped plots registered in Poznań during the period of 19952010. Transactions of plots intended for single-family housing were selected. Those transactions which unquestionably differed from market standards, i.e., the prices of which did not reflect market characteristics, were rejected. A total number of 27,335 transactions, which may be defined as characterized by a sufficient cohesion of market features so that they could
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