Justyna Brzezicka
The Real-time Problem in Real Estate Market Research
Purpose – The research goals were to analyze the problems in real estate market research; prepare a map of the problems associated with information supply on the real estate market and describe in detail the problem of real time in real estate market research.
Design/methodology/approach – In the theoretical part, the method of detailed literature review was used. In the research part, the case study method was used. On the example of the city of Olsztyn was examined delays in entering and accessing data in the Register of Real Estate Prices and Values in Olsztyn.
Findings – On the Olsztyn market, the length of the information lag between the date on which an application was submitted and the date on which the requested information was provided was approximately 30 days. The average difference between the date on which the requested information was received and the date of the most recent transaction in the register was 40 days. The average lag between transaction date and registration date was 85 days.
Research limitations – The main research limitation is the analysis of only one local market, the market of the city of Olsztyn. For this reason, the results should not be generalized, and the problem requires deeper research.
Research implications – The problems relating to insufficient market data, delayed access to data, information asymmetry and real-time data need to be resolved to improve the research process and facilitate the operations of market service providers, such as property appraisers, consultants and brokers.
Keywords: information, research problems, information supply
JEL codes: D80; D82; R00; R20; R21;
Article type: research article
CITATION (APA): Brzezicka, J. (2021). The Real-time Problem in Real Estate Market Research. World of Real Estate Journal, 116(2), 60-74.
DOI: https://doi.org/10.14659/WOREJ.2021.106.05
