Speculation on the land market in the context of its structure on the example of Silesia Province in the years 2003–2012
Journal Title: Zarządzanie i Finanse - Year 2014, Vol 12, Issue 4
Abstract
This paper presents results of a study of the market structure of corporate land acquired in Silesia Province in the years 2003–2012. The study was based on direct and comprehensive market data taken from notary deeds and stored in the local real estate appraiser database. The structure of the land market was studied by identifying three aggregated groups of sellers: households, the state and other public entities and enterprises. The study results revealed the importance of households, whose share in land sales amounted to 52 % of the entire number of transactions, 33 % of land value and 42 % of the acquired land area. The paper also presents the results of fragmentary research on the correlation between the types of entities selling the land and cases of speculative increases in market prices. Based on that, it has been stated that households are the least knowledgeable entities, which results in irrational decisions being made. Against the background of research on speculative price increases, the authors present basic comparisons regarding the concept of public fee charging owing to the increase in land value in Poland and the USA
Authors and Affiliations
Jan Konowalczuk
Keywords
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