EDITORIAL
The Covid-19 Pandemics has had a significant impact on society, economy and the real estate industry. Although the issue does not entirely focus on the consequences of Covid-19 in the real estate context, the issue is present in some of the papers published within this issue. Except for one review paper, this particular issue mostly focuses on the dynamics of real estate markets.
The first paper entitled “Bidirectional dependencies between the residential market in voivodeship cities and the mortgage loans market in Poland” written by Krzysztof Nowak investigates linkages between mortgages and regional housing markets using the Vector Auto Regression approach and testing for Granger Causality.
In the second paper entitled “Changes in the housing market in Cracow during COVID-19 Pandemics” Mateusz Szczepek focuses on the supply side of the residential market. Using listing data author explores changes in prices and the quality of apartments offered for sale in Krakow from 1Q 2020 and 1Q2021.
The third paper written by Teodor Skotarczak is entitled “The phenomenon of an overreaction on the housing market” and explores the regional market dynamics in Poland. Using aggregate data on regional housing markets in Poland (voivodship level) paper investigates links between the house prices and the transactions’ volume.
The fourth paper “Analysis of the housing real estate market in the coastal belt of the West Pomeranian Voivodeship” is written by Aneta Zaremba, Małgorzata Blaszke. Within the article, the authors explore the changes in both prices and the number of transactions using the data from the Polish Baltic coast.
Last but not least, in the review paper entitled “The Significance of Cooperation between the Developer and the Real Estate Manager in Light of Agency Theory” Katarzyna Kania, and Katarzyna Najbar attempt to pinpoint the complicated relations between developers and residential property managers using agency theory. In addition to the theoretical discussion, the authors present the findings from a preliminary survey conducted with the Residential Developers in Krakow.
We believe that this particular issue will initiate an interesting discussion on several recent topics in the real estate industry, that we hope to continue in 2021 and beyond.
Michał Głuszak
Editor-In-Chief
