Scholarly record
LUXURY REAL ESTATE MARKET IN POLAND
Abstract
In comparison with West Europe, Polish luxury residential real estate market is characterised by a relatively low level of prices and a relatively low number of properties with very luxurious character. Transactions concerning luxury apartments constitute approximately 1% of all transactions of sale of residential real estate in the largest cities in Poland. Due to the growing income and improving level of life, demand for luxury apartments in Poland is constantly increasing, and the market has good perspectives for development. The objective of the article was the presentation of the genesis of the luxury real estate market in Poland and the analysis of its current state. Based on the example of the Warsaw real estate market in the study period, maps of spatial distribution of transaction prices of luxury residential properties were prepared, as well as diagrams of spatial distribution of transaction prices of luxury apartments in selected skyscrapers. The analyses were supported by geostatistical methods available in popular GIS applications. Both deterministic and stochastic interpolation methods were applied for the estimation of the value of transaction prices in particular districts of Warsaw.
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