The housing market in Poland during the Covid-19 pandemic
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Warsaw School of Economics, Department of Innovative City, al. Niepodległosci 162, 02-554, Warsaw, Poland
Warsaw School of Economics, Institute of Enterprise and Investment Finance, al. Niepodległosci 162,02-554, Warsaw, Poland
Warsaw University of Technology, Faculty of Civil Engineering, Al. Armii Ludowej 16, 00-637 Warsaw, Poland
Submission date: 2023-03-03
Final revision date: 2023-05-19
Acceptance date: 2023-06-20
Publication date: 2023-12-21
Archives of Civil Engineering 2023;4(4):393-411
This article examines the impact of economic factors, such as changes in interest rates and inflation, on the primary housing market in Poland from January 2019 to September 2022, with particular focus on the Covid-19 pandemic. The research problem is to understand howthese economic factors have affected the housing market, and the research objective is to analyze the activity of developers, building permits issued, investments started, and housing loans granted. The research methodology involves the analysis of data from various sources, including official statistics and reports from developers and investment funds. The research findings suggest that the decreased demand for housing loans has led to a significant decline in the allocation of new housing. However, the emergence of new major players, such as leading European and global investment funds, could provide opportunities for developers. The study concludes that caution is warranted in starting new construction activity and that the best performance in housing production in the transition period to 2021 is unlikely to be exceeded in the current or subsequent years. The implications of this study are that developers need to consider economic factors and market trends when making decisions about new construction and that investment funds may play an increasingly important role in the housing market.
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