Świat Nieruchomości 2020 nr 3 (113) - SPIS TREŚCI

Purpose: The local housing market in Poznań is undergoing a dynamic growth, with recent years (2015-2019) seeing more activity from property developers as well as rising demand and prices. Given the above, this paper has the following objectives: (1) To present the local housing market situation in Poznań over 2015-2019; (2) To characterise the buyers of dwelling units in that market; and (3) To describe the housing buyers’ preferences and to compare the buyers’ expectations with what the property developers could offer them.

Methods: The discussion below is based on surveys among housing trade show participants (sample n=268) who said they were actively seeking to buy a dwelling locally. We have also examined housing offered for sale by property developers.

Findings: Based on our research, we were able to determine the structure of dwellings offered by property developers and the preferences of buyers in the Poznań primary housing market. We have compared the results of our studies and found that, given the rising prices, there is a large discrepancy between the buyers’ stated preferences and their adjusted preferences once the real market prices are factored in, and that there are mismatches in the Poznań primary market between what the property developers offer and what the interested housing buyers would prefer to be offered.

Research implications: This might have serious consequences for the market (for example, by cementing its suboptimal structure on the demand side and by hampering sales of some dwellings on the supply side, leading to worse return on investment).

Keywords:    primary housing market, housing preferences

JEL codes:    R30, R31, R39

Article type:    research article

CITATION (APA): Bartkowiak, P., Strączkowski, Ł. (2020). Housing Buyers’ Preferences and the Relevance of those Preferences. In Researching Poznan Primary Housing Market. World of Real Estate Journal, 113(3), 4-20.

DOI: https://doi.org/10.14659/WOREJ.2020.113.01

Purpose: To research the real state of development of the Ukrainian residential real estate market and its attractiveness for foreign investors

Design/methodology/approach – The article is a review. The main scientific approach was aimed at analyzing the publication of Ukrainian authors on the issue of foreign investment in residential real estate in Ukraine, followed by identification of benefits, risks and grounds for this.

Findings:  The main findings of the article are sound recommendations on ways and directions of investing in residential real estate in Ukraine for foreign investors

Research limitations: Limited access to data and Issues with sample and selection

Research implications: A study might have implications for foreign investors, interested in investing in residential real estate in Ukraine, but anyway they will need the professional consultation from Ukrainian real estate professional before doing operations at this market.

Keywords:    residential real estate, primary and secondary market, real estate rental, foreign investment, mortgage

JEL codes:    R31

Article type:    review article

CITATION (APA): Druhov, O. (2020). State of the Residential Market in Ukraine and Investment Guidelines for Foreign Investors . World of Real Estate Journal, 113(3), 21-32.

DOI: https://doi.org/10.14659/WOREJ.2020.113.02

Purpose: In recent two decades, several important innovations have emerged and been adopted in the built environment across the world.  Amongst the most prolific technological innovations are green (sustainable) and intelligent (smart) buildings design.  The adoption of that innovation was particularly visible in the commercial property market. In the case of sustainable design, the process has been facilitated by the emergence of independent third party governance institutions and the development of green building certification systems. In many cases, the process of innovation diffusion is a spatial phenomenon that manifests as hierarchical/cascade or contagious dispersion of given technological advancements..

Design/methodology/approach: We analyze the spatial diffusion of sustainable innovation across commercial property markets in major cities in Poland. Using a city-level panel data we trace the diffusion of green building innovation diffusion. We focus on major green building certification scheme - LEED developed in the US, In the empirical part, we investigate the adoption of new technologies by analyzing the fraction of innovative (green) office space in particular office markets.

Findings: The diffusion of green innovation was particularly fast between 2010 and 2020 in all selected cities. Nonetheless the explorative research suggest that the dynamics of adoption of green technologies is different in selected cities. The adoption rate was the highest in Wroclaw, and the lowest in Krakow.   

Limitations: The study focuses on diffusion of LEED certificates, and as such it does not cover all sustainable buildings. Many office projects have different green building certificates (mainly BREEAM).

Keywords:    innovation; diffusion; smart buildings; green buildings; office market; real estate; Poland

JEL codes:    R33, Q55, O33

Article type:    research article

CITATION (APA): Głuszak, M. (2020). Adoption of Green Innovations on Office Markets in Poland. World of Real Estate Journal, 113(3), 33-44.

DOI: https://doi.org/10.14659/WOREJ.2020.113.03

Purpose: The paper aims to present and investigate an impact of environmental issues on strategic planning processes in global cities.

Methods: For the study, a complex of complementary methods of scientific identification of economic processes and phenomena- the system-structural, comparative and statistical analysis: are employed for studying the current state and main trends. Data-wise, it is founded on statistical and analytical materials and informational and analytical collections, bulletins and reviews, and results of own research.

Findings/implications: The future of the global economy depends on the efficiency of important centers which are named global cities. Further increasing the burden on the environment has irreparable long-term effects on the conditions of competitiveness and investment attractiveness.  The key to efficient environmental transformations at the urban level are adaptable models, which can react to external and internal changes.

Research limitations: The limitation of this research lies in the assessment of the real state of the problem made on a subjective scales that either inflate or underestimate the value of the evaluated problem. Despite the lack of immediate results in improving the environment, a sound environmental policy can have a significant impact on improving human health and well-being. It is proposed to solve this problem systematically and to take into account the effect of accumulating negative implications of the impact on the ecosystem.

Keywords:    Global city; environmental responsibility; sustainable development; urban planning

JEL codes:    F64

Article type:    review article

CITATION (APA): Duginets, G., & Sarkisian, L.  (2020). How Environmental Transformations Shaping Governance Practices in Global Cities? World of Real Estate Journal, 113(3), 45-57.

DOI: https://doi.org/10.14659/WOREJ.2020.113.04

Purpose: The concept of accessible tourism has been recently extended by involving permanent and temporary disabilities and also gender, race, ability or sexual diversity and every kind of inequality. Therefore, providing services capable of improving it for different market groups is an important challenge for the sustainable development of regions. This research intends to identify to what extent Italian accessible tourism startups meet regional sustainable development.

Design/methodology/approach: This study performs an exploratory qualitative analysis based on a netnography collecting data deriving from the ten best projects awarded in the Invitalia 2019 challenge “Accessible”.  

Findings: Startups help not only cognitive but also actual accessibility dimension of regional tourism development, indeed, the findings reveal three different categories of "access gain": physical, cultural and health-related all suitable to increase the regional sustainable development.

Research limitations: The main limitation is represented by the qualitative study, whose results are not generalizable. Indeed, it is the first step of broader research aimed to investigate the linkages between accessible tourism and regional sustainable development.

Research implications:  Existing firms and new entrepreneurs could enhance their business activities, taking into account accessible tourism opportunities. Policymakers should design and improve accessibility regulations as a competitive advantage for any sustainable regional tourism policy.

Keywords:    Accessible tourism, regional sustainable development, startups, barriers

JEL codes:    K34, L21, M13, R11, Z32

Article type:    research article

CITATION (APA): Abbate, T., Accordino, P., Coppolino, R., La Rocca, E. T., & Rupo, D. (2020). Italian Accessible Tourism Startups and Regional Sustainable Development. World of Real Estate Journal, 113(3), 58-77.

DOI: https://doi.org/10.14659/WOREJ.2020.113.05