Dynamic changes in real estate worldwide, as well as the recent evolution of real estate economy pose serious challenges for policy makers and a research agenda. Growing empirical evidence coming from emerging and evolving markets questions several well-established theoretical models developed in the US and the EU.
The need for quality research on real economics and investment based on unique evidence coming from Central and Eastern Europe requires further evolution of World of Real Estate Journal. Starting from this issue all papers published in the journal are in English to improve the dissemination of the research results. We hope this long-awaited change will foster the future development of WOREJ and attract new authors and readers. The issue contains five papers focusing on the real estate market, regional development and housing policy. Along with the articles, within the conference news section, the reader can find a report on a recent conference held in Poznan.
Within this issue we are publishing two research papers focused on the real estate market. Despite differences in the scope and methodology, both papers address interesting and valid questions regarding recent trends on office and housing markets.
The first paper entitled "Elasticity of the Office Space Market in Poland: Looking for the London Effect” was written by Krzysztof Nowak and investigates the office space markets in Warsaw, Krakow, Wroclaw and Poznan. The paper uses the Error Correction Model to estimate price and income elasticities of demand for office space.
In the second paper entitled "Seniors’ Housing Preferences in Rural Areas” Anna Jancz focuses on demand for housing. Using survey data the author explores stated preferences of seniors in rural communes of the Greater Poland Province, and focuses on migration propensity. Additionally, the paper investigates seniors’ choices regarding location, as well as housing services and quality.
Within the second thematic section on urban and regional development we are publishing two other articles related to regional development. In addition to the thematic similarity, these papers share the empirical approach, as they both apply taxonomic methods.
The third paper written by Milena Bera and Monika Śpiewak, entitled “An Analysis of Municipal Real Estate Resources in Poland”, investigates similarities and differences among provinces in Poland, using selected clustering methods. The authors calculate the taxonomic development measure and cluster 16 provinces in Poland based on selected indicators related to municipal real estate resources.
The fourth paper was written by Paweł Dziekański and Urszula Karpińska. The article entitled “A Synthetic Assessment of the Impact of Housing Management Variables on the Level of Development of Communes in the Świętokrzyskie Voivodship in the Years 2009-2017” uses TOPSIS taxonomic method based on selected housing management indicators.
Last but not least, in the review paper entitled "The Evolution of Housing Policy Models in European Countries. A Theoretical Approach” Ewa Kucharska-Stasiak, Magdalena Załęczna and Konrad Żelazowski summarise the evolution of housing policy models in Europe and assess the effects of their implementation. In the regular conference news section Katarzyna Kania reports on the Jubilee Conference of the Department of Investment and Real Estate of the Poznan University of Economics and Business entitled “Real Estate Market Border” held in May 2019.
Michał Głuszak
Thematic Issue Editor
