Recent Trends in the Real Estate Market and its Analysis, 2013, Volume 1

NBP Working Paper No. 182, Volume 1

280 Pages Posted: 21 Aug 2015 Last revised: 9 Jul 2016

See all articles by Hanna Augustyniak

Hanna Augustyniak

National Bank of Poland

Jacek Laszek

Warsaw School of Economics (SGH)

Krzysztof Olszewski

Narodowy Bank Polski

Date Written: September 9, 2014

Abstract

Real estate markets, including residential markets, are subject to cycles and are determined by local factors. This dependence is the result of local interactions of a variable demand and rigid short-term supply, which results from the relation between the real sector of the economy (real estate developers, construction companies, home buyers), the financial sector (providing financing for home construction and purchases) and the public sector (regulating the market).

Keywords: Cycles in the housing market, disequilibrium, imbalances

JEL Classification: E32, E44, E37, R21, R31

Suggested Citation

Augustyniak, Hanna and Laszek, Jacek and Olszewski, Krzysztof, Recent Trends in the Real Estate Market and its Analysis, 2013, Volume 1 (September 9, 2014). NBP Working Paper No. 182, Volume 1, Available at SSRN: https://ssrn.com/abstract=2648120 or http://dx.doi.org/10.2139/ssrn.2648120

Hanna Augustyniak (Contact Author)

National Bank of Poland ( email )

00-919 Warsaw
Poland

Jacek Laszek

Warsaw School of Economics (SGH) ( email )

aleja Niepodleglosci 162
PL-Warsaw, 02-554
Poland

Krzysztof Olszewski

Narodowy Bank Polski ( email )

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