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  • Author: Iwona Dittmann Ph.D x
  • Political Economics x
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Abstract

The paper presents the results of a comparison of the development of mean offer and transaction prices per 1m2 in primary and secondary residential real estate markets in 16 provincial capital cities in Poland, during the time period from the 3rd quarter of 2006 to the 3rd quarter of 2012. The quarterly data came from the residential real estate price database of the National Bank of Poland (NBP). The research concerns the dependencies in the residential real estate market between the following four price categories: offer prices in the primary market, transaction prices in the primary market, offer prices in the secondary market and transaction prices in the secondary market. For each city, the dynamics of each price category per 1m2, the existence of a linear correlation between the individual mean price categories in chosen subintervals and their convergence and variability in time were studied and compared.

Abstract

This paper presents the results of a comparison of the rates of return on specific open-end debt investment funds in Poland with the rates of return on bank deposits, in light of different time horizons. A comparative analysis was conducted based on the quartiles of the empirical distributions of the rates of return on selected funds and bank deposits. The empirical distributions were obtained using a moving window of observation. The results were largely influenced by very high interest rates on bank deposits in Poland in the years 1995–2001 (in the case of the oldest funds), and by the boom in the bond market in the years 2011–2012 (for the youngest funds). The investment horizon turned out to be significant. The best and worst funds were identified.