Macroeconomic Prerequisites for the Housing Market in Poland

Abstract

The paper provides the characteristics of the housing market in Poland at the close of 2006. It describes specific features of that market which has been broken down into the segments of apartments and houses. Making reference to the results of a survey, the paper explains the reasons for purchasing apartments in Poland over the recent years. With the use of that information and the sales figures of apartments it formulates indexes for that market. The indexes include: waiting time for an apartment, supply of apartments to the market, the indexes include three major cities of Poland. In the second part of his paper the author forecasts growth directions of the housing sector in Poland up to 2013 on the basis of the current and future macroeconomic prerequisites of that market. The strategy of development of that market should include: the present supply of housing and the dynamics of changes, the demand for housing and the shortages of supply to that market in Poland. The discussion of the insufficient supply to the housing market in Poland should include housing aspirations of Poles. Here, we either have wishful thinking totally devoid of financial potential or aspirations that are based on the realistic assessment of current and prospective resources.