Open AccessPrice Convergence in the Regional Housing Markets in Poland
Author(s) -
Konrad Żelazowski
Publication year - 2019
Publication title -
real estate management and valuation
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.296
H-Index - 8
ISSN - 2300-5289
DOI - 10.2478/remav-2019-0014
Subject(s) - real estate , convergence (economics) , economics , econometric analysis , similarity (geometry) , financial economics , residential real estate , econometrics , macroeconomics , finance , artificial intelligence , computer science , image (mathematics)
Average prices of residential real estate usually show significant variation on a regional basis. This reflects different social, economic or historical conditions for the development of these markets. In addition, research so far has not provided strong evidence supporting convergence in the level of property prices in the regional dimension. The lack of price convergence, however, does not exclude convergence in the direction and strength of price changes. The article is an attempt to answer the question of whether price trajectories in the regional housing markets in Poland show long-term similarity. To this end, econometric analysis of the dynamics of relative prices in the voivodship markets with the use of quarterly data from the years 2002-2016 has been conducted.