<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The main purpose of the paper is to present some of the mechanisms connected with the functioning of the Polish housing market, with due regard to demand and supply volatility as well as the changing financial conditions at the time of the global financial crisis of the first decade of the present century. Special attention is given to the financial and legal regulations concerning the housing market, which were introduced in response to the economic downturn.</p><p>On the basis of research conducted by the authors, as well as available reports and statistics for 2007-2013, the article will explore market phenomena (the size and pattern of demand, supply and prices on the housing market, and the changes they undergo) on the one hand, and the legal and financial regulatory changes directly affecting them, on the other. It will also study the effects of the implementation of the recommendations made by the Polish Financial Supervision Authority (KNF) by banks in the wake of the global financial crisis. These cause banks to tighten their credit policies and, accordingly, have an impact on their loan portfolios. Information from secondary sources has also been used, notably from the Central Statistical Office (GUS), the KNF, the National Bank of Poland (NBP), as well as the Polish Bank Association (ZBP) and the Credit Information Bureau (BIK). Changes that occurred during the period of economic crisis in the availability of housing have also been examined.</p></abstract>

The main purpose of the paper is to present some of the mechanisms connected with the functioning of the Polish housing market, with due regard to demand and supply volatility as well as the changing financial conditions at the time of the global financial crisis of the first decade of the present century. Special attention is given to the financial and legal regulations concerning the housing market, which were introduced in response to the economic downturn.On the basis of research conducted by the authors, as well as available reports and statistics for 2007-2013, the article will explore market phenomena (the size and pattern of demand, supply and prices on the housing market, and the changes they undergo) on the one hand, and the legal and financial regulatory changes directly affecting them, on the other. It will also study the effects of the implementation of the recommendations made by the Polish Financial Supervision Authority (KNF) by banks in the wake of the global financial crisis. These cause banks to tighten their credit policies and, accordingly, have an impact on their loan portfolios. Information from secondary sources has also been used, notably from the Central Statistical Office (GUS), the KNF, the National Bank of Poland (NBP), as well as the Polish Bank Association (ZBP) and the Credit Information Bureau (BIK). Changes that occurred during the period of economic crisis in the availability of housing have also been examined.

Development Conditions of Polish Housing Market During Economic Crisis

Faculty of Economic Sciences and Management Nicolaus Copernicus University

Faculty of Management University of Gdansk.

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Development Conditions of Polish Housing Market During Economic Crisis"}

The main purpose of the paper is to present some of the mechanisms connected with the functioning of the Polish housing market, with due regard to demand and...

Development Conditions of Polish Housing Market During Economic Crisis

Published Online: Feb 06, 2015

Page range: 68 - 80

DOI: https://doi.org/10.2478/remav-2014-0038

Keywords
housing market, Poland, mortgage, financial regulation

© 2014 Ewa Siemińska and Małgorzata Rymarzak

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Development Conditions of Polish Housing Market During Economic Crisis

Published Online: Feb 06, 2015

Page range: 68 - 80

DOI: https://doi.org/10.2478/remav-2014-0038

Keywordshousing market, Poland, mortgage, financial regulation

© 2014 Ewa Siemińska and Małgorzata Rymarzak

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
housing market, Poland, mortgage, financial regulation