Location tendencies in developer investments in the residential market in Łódź

Agata Antczak-Stępniak

DOI: http://dx.doi.org/10.1515/20301

Abstract


One of the most critical decisions that every developer has to make is what location will be the best for his investment. This depends on different factors that change over the years. Therefore, the aim of the article is to identify and assess tendencies in the location of developers’ investments based on the example of the activity of Łódź developers.

In the past, the share of investments on outskirts was more significant, which in the case of Łódź resulted from several reasons – mainly the small number of local plans, the abuse of planning decisions, and low land prices on the outskirts. Therefore, the current tendency of locating a significant part of investments in the city centre seems to be a very positive phenomenon. It reduces the costs of these investments and creates a more compact urban built-up area.


Keywords


residential market, development activity, location factor, urban sprawl

Full Text:

PDF

References


Aluko, O. (2011). The effects of location and neighbourhood attributes on housing values in metropolitan Lagos. Journal of Geography and Regional Planning, 4(16): 767-775. DOI: http://doi.org/10.5897/JGRP11.067

Antczak-Stępniak, A. (2015). Development Activity in the Polish Legal Setting, Real Estate Management and Valuation, 23(1): 42-54. DOI: http://doi.org/10.1515/remav-2015-0004

Bank Danych Lokalnych (Local Data Bank), Główny Urząd Statystyczny, 2019: https://bdl.stat.gov.pl/ (2019).

Brzeziński, C. (2013). Wybrane problemy planowania przestrzennego w Polsce (Selected problems of spatial planning in Poland). Folia Oeconimica Acta Universitatic Lodzensis, 289: 105-114. http://cejsh.icm.edu.pl/cejsh/element/bwmeta1.element.hdl_11089 _10427/c/07-brzezinski.pdf (19.02.2018).

de Vor, F. and de Groot, H. (2009). The Impact of Industrial Sites on Residential Property Values: A Hedonic Pricing Analysis for The Netherlands. TI 2009-035/3 Tinbergen Institute Discussion Paper. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1398803 (24.02.2018).

Ferlan, N. Bastic, M. and Psunder, I. (2017). Influential Factors on the Market Value of Residential Properties. Inzinerine Ekonomika- Engineering Economics. 28(2): 135-144. DOI: http://doi.org/10.5755/j01.ee.28.2.13777

Godlewska, H. (2001). Lokalizacja działalności gospodarczej. Wybrane zagadnienia (Business location. Selected issues). Warszawa: Dom Wydawniczy ELIPSA.

Havard, T. (2013). Financial Feasibility Studies for Property Development: Theory and Practice. London and New York: Routledge.

Jurock, O. (1999). Forget about Location, Location, Location. The definitive real estate investor guide for the new millennium. Vancouver: Jurock Publishing Ltd.

Kim, J. (2003). The Dynamics of the Australian Industrial Property Market. Pacific Rim Property Research Journal, 9(4): 398-408. http://www.prres.net/papers/prrpj_no_4_2003_kim.pdf (25.01.2020).

Kirejczyk, K. and Dąbrowski, M. (2001), Inwestycje deweloperskie (Developer investments). Warszawa: TWIGGER.

Klimczak, K. (2010). Determinants of real estate investment. Economics & Sociology. 3(2): 58-66. Available at: https://economics-sociology.eu/files/07[7].pdf (24.02.2018).

Kockelman, K.M. (1997). The Effects of Location Elements on Home Purchase Prices and Rents: Evidence from the San Francisco Bay Area. Transportation Research Record Journal of the Transportation Research Board, 1606(1): 40-50. DOI: http://doi.org/10.3141/1606-06

Kucharska-Stasiak, E. (2016). Ekonomiczny wymiar nieruchomości (The economic dimension of the property). Warszawa: PWN.

Łódzki Ośrodek Geodezji, (2019). (Municipal Geodesy Centre in Łódź), 2019: https://mapa.lodz.pl/

Najwyższa Izba Kontroli. (2011). Informacja o wynikach kontroli realizacji zadań w zakresie planowania i zagospodarowania przestrzennego przez organy administracji rządowej i jednostki samorządu terytorialnego (Information on the results of monitoring the implementation of tasks in the field of spatial planning and development by government administration bodies and local government units). Warszawa.

Peiser, R.B. and Hamilton, D. (2012). Professional Real Estate Development. The ULI Guide to the Business. Washington: Urban Land Institute.

Rymarzak, M. and Siemińska, E. (2012). Factors Affecting the Location of Real Estate, Journal of Corporate Real Estate, 14(4): 214-225. DOI: http://doi.org/10.1108/JCRE-11-2012-0027

Schirmer, P.M. Axhausen, K.W. and Eggermond, M.A.B. (2014). The role of location in residential location choice models: a review of literature. The Journal of transport and land use, 7(2): 3-21. DOI: http://doi.org/10.5198/jtlu.v7i2.740

Smersh, G.T. Smith, M.T. and Schwartz, Jr.A.L. (2003). Factors Affecting Residential Property Development Patterns. Journal of Real Estate Research, 25(1): 61-76. https://www.researchgate.net/publication/5142186_Factors_Affecting_Residential_Property_Development_Patterns (25.02.2018).

Strategia Przestrzennego Rozwoju Łodzi 2020+ (Łódź Spatial Development Strategy 2020+), adopted by the Resolution of the City Council of Lodz No. LV/1146/13 of January 16, 2013.

Urząd Statystyczny w Łodzi (Statistical Office of Łódź). Sytuacja społeczno-gospodarcza Łodzi. Raporty kwartalne z lat 2006-2018 (Socio-economic situation of Łódź. Quarterly reports form the years 2006-2018). https://lodz.stat.gov.pl/opracowania-biezace/komunikaty-i-biuletyny/komunikaty-i-biuletyny/sytuacja-spoleczno-gospodarcza-lodzi-i-ii-kwartal-2019-r-,3,62.html (10.04.2019).

Witkowski, J. Cheba, K. and Kiba-Janiak, M. (2017). The Macro- and Microenvironmental factors of Decisions of Production Facility Location By Japanese Companies In Poland, Forum Scientiae Oeconomia, 5(1): 43-56. DOI: http://doi.org/10.23762/fso_vol5no1_4








Print ISSN: 1732-4254
Online ISSN: 2083-8298

Partnerzy platformy czasopism