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CHANGES IN TRANSACTION PRICES OF REAL ESTATE AND AGRICULTURAL LAND IN POLAND IN YEARS 2004-2015
Abstract
This paper discusses the issue of changes in average transaction prices of undeveloped land and real properties designated for agricultural and forestry purposes in Poland. The studies cover the period starting from the accession of Poland into the European Union structures in 2004. Another aim of the study is also to present the differences between average transaction prices of undeveloped real properties designated in years 2009-2015 among others, residential land, industrial land, other building land, agricultural land and forest land as well woody and bushy land. The Polish real property market has been very active in the analysed period, which has been confirmed by an increase in the average prices of agricultural land. Average transaction prices per 1 m2 of undeveloped land in urban areas are considerably higher than in non-urban areas. This difference may reach even up to 30%, depending on the designation of the property and the analysed year. A decreasing trend in unit transaction prices was noted for all types of real property in the years 2009-2015.However, the research has revealed an increase in the transaction prices of agricultural land analysed for the period 2004-2015
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