1、Radosaw TrojanekConstructing Hedonic House Price and Rent Indices for Poland using listings data from 1996-2024The National Science Centre of Poland partly supported this work under Grant number 2021/43/B/HS4/01213.IntroductionTransactions:-most reliable indicator of a propertys market valueProblems
2、 with transaction data from PPR(Property Price Register)in Poland:-the time lag between the completion of transaction(notarial deed)and the date of entry into the property price register(e.g.Warsaw up to 6 months)-the transaction price can be set several months before the transaction date(in case of
3、 new-builts for Warsaw average gap of 530 days between price agreement and transaction date)-insufficient property description for effective application of hedonic pricing models(e.g.no information on technology construction,quality of real estate)-difficult to judge if transaction was on market con
4、ditions-PPR does not include cooperative ownership property right which holds share of 20-25%of secondary houisng market(existing builts)IntroductionListings:-Available online,detail description of property Problems:property listings may contain inaccurate information regarding virtually every aspec
5、t of the real estate(location,area,construction year,)date problem(date of scrapping,date of modification,date of listing first time which one to use?)the same property may be listed on multiple portals(sometimes with different list prices).a property may stay on a portal website for many weeks or m
6、onths,with a list price that may change over time.there is no guarantee that the property will sell,particularly if the stated list price exceeds current market conditionsIntroductionThe subject scope:Dwellings prices on the secondary housing market,involve both property rights and cooperative prope