1# RECORD 387c90bd781ef3cca43b776a1fe3e4d7c98fb2e62# TITLE: Differentiation of Local Housing Markets in the Poznań Suburban Area3# YEAR: 2013.0 VENUE: nan DOI: 10.2478/remav-2013-00304# AUTHORS: Justyna Tanas5# PAGES: 11 CANDIDATE TABLE PAGES (1-based): []6# 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.789===== PAGE 1 (score 3, numeric-paren 0, table-words 0, var-words 3) =====1011 12 1388 14REAL ESTATE MANAGEMENT AND VALUATION 15 16www.versita.com/remv 17vol. 21, no. 3, 2013 18 19DIFFERENTIATION OF LOCAL HOUSING 20MARKETS IN THE POZNAŃ SUBURBAN AREA1 21 22Justyna Tanaś, PhD 23Department of Investment and Real Estate 24Poznań University of Economics 25e-mail: justyna.tanas@ue.poznan.pl 26 27Abstract 28In recent years, there has been a strong interest in land intended for single-family housing in the 29suburban zones of big cities. This is strongly related to the suburbanization process. In the present 30study, the author endeavored to present the differentiation of local markets of undeveloped real estate 31intended for single-family housing in the suburban zones of Poznań. Notary deeds related to sales 32transactions in the segment of undeveloped land plots were the basic source of information used in 33the article. The article shortly discusses the specifics of the land market in the suburban zone, presents 34the research method (the nature of the real estate prices index) and then, creates a regression function 35of plot prices and indicates hedonic prices for undeveloped plots intended for single-family housing 36in particular communes. Finally, it seeks to define the similarities and differences within the local 37undeveloped property market in the Poznań agglomeration. 38 39 40Keywords: suburban area, local housing markets, market of land intended for single-family housing. 41 42JEL Classification: R31. 43 44Citation: Tanaś J., (2013), “Differentiation of Local Housing Markets in Poznań Suburban Area”, Real 45Estate Management and Valuation, vol. 21, no. 3, pp. 88-98. 46 47DOI: 10.2478/remav-2013-0030. 48 491. Introduction 50The system transformation in Poland caused rapid development of the property market. An important 51segment of the property market is the market of land intended for single-family housing. During the 52last dozen years, there has been a growing interest in this segment. The market developed particularly 53in the suburban areas of big agglomerations. This was related to the intensification of people's 54migration from the centers of big cities and the development of housing in suburban areas. 55In the study, the author endeavours to present the differentiation of the local market of 56undeveloped plots intended for single-family housing in the Poznań suburban area (17 communes 57within Poznań County). The analysis covers the period of 1995-2010. 58Notarial deeds concerning sales transactions of undeveloped plots were the basic source of 59information used in the article. As a result of the long and thorough study of notarial deeds from the 60County Center of Land Surveying and Cartography Documentation in Poznań, a database was created 61encompassing sales transactions of undeveloped plots registered in Poznań during the period of 1995-622010. From the created database, transactions of plots intended for single-family housing were 63selected. Those transactions which unquestionably differed from market standards, i.e., the prices of 64which did not reflect market characteristics, were rejected. Plots with areas ranging from 300 to 653,000 m² were considered as typical plots intended for housing. A total number of 27,335 transactions, 66which may be defined as characterized by a sufficient cohesion of market features so that they could 67 681 The project was financed by National Science Center 69