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Author
Leszczyński Robert (Narodowy Bank Polski, Regional Branch in Białystok; Warsaw School of Economics), Olszewski Krzysztof (Narodowy Bank Polski; Warsaw School of Economics)
Title
Commercial Property Price Index for Poland
Source
Bank i Kredyt, 2015, nr 6, s. 565-578, aneks, bibliogr. 22 poz.
Bank & Credit
Keyword
Nieruchomości komercyjne, Indeks cen, Analiza empiryczna, Analiza hedoniczna cen
Commercial property, Price index, Empirical analysis, Hedonic price model
Note
streszcz., summ.
Abstract
We present the first hedonic analysis of commercial real estate prices in Poland. It is based on data collected by Narodowy Bank Polski and augmented with Comparables.pl data. We apply separate regressions for the office and retail market, and create a hedonic price index for offices in Warsaw and in the rest of the country and an index for the retail sector for the whole country. It is necessary to apply the hedonic approach, as the quality of the traded property varies significantly over time. We find that office property prices in Warsaw have posted a slight upward trend since 2009, while they are stagnating in the rest of the country. Retail property prices showed strong changes over the analyzed period, but since 2008 the hedonic price has been rather stable.(original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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Bibliography
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ISSN
0137-5520
Language
eng
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