Basing on Examples of Vacant Land Properties for Single – Family Housing in the District of Swarzędz)

Uniwersytet Ekonomiczny w Poznaniu ZESZYTY NAUKOWE 2011 (188)

Justyna Tanaś Poznań University of Economics

CHANGES OF PLOTS PRICES ON LOCAL PROPERTY MARKET (BASING ON EXAMPLES OF VACANT LAND PROPERTIES FOR SINGLE – FAMILY HOUSING IN THE DISTRICT OF SWARZĘDZ)

Abstract: Property market was characterised by signifi cant upward trend within the last few years. Decreasing area of vacant land properties within the city of Poznań and lack of land development plans were the main reasons to direct demand to suburban areas. The Poznań agglomeration together with the district of Swarzędz is the best developed area both on a regional and national scale. The study concerns one segment of a property market. The subject of the analysis are notarial deeds concerning sales and purchase transactions from the period of 2001–2009 being in possession of the Offi ces of the Poznań County Authorities. The analysis presented shows changes within this segment of market and has research purposes. This analysis has been made with the use of elements of mathematical statistics. Presented data are contained within series of detail and series of interstitial. The author presents the processed information with the use of fi gures of size curve, histograms (bar charts) and statistical Figure (broken line curve). Structure, correlations and population dynamics are the subjects of analysis. Individual coeffi cients have been calculated for total districts and in division into selected premises. The purpose of this research is to present growing trends on vacant land properties for single-family housing in the district of Swarzędz. The performed analysis shows that the Swarzędz district’s property market is a local market strictly connected with the one of Poznań. Population of the Poznań agglomeration is infl uenced by changes and trends of worldwide character and people settle on the outskirts of big towns, for example in the Swarzędz district. We can observe “escape” of Poznań’s inhabitants to neighbouring places. It results in signifi cant movements within property market concerning vacant land properties for single-family housing. Keywords: changes of plots prices, local property market.

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Introduction

Property is more often a subject of interest of both natural and legal persons [Prystupa & Rygiel 2003, p. 13]. It is mostly connected with using properties in business activity as well as in order to meet individual needs (housing needs, recreational needs etc.). For effi cient property management we need proper knowledge basing on, among others, terms and legal regulations and functions of properties in the whole economy. Property as a good is a subject of market turnover. Property market, similarly to market as a whole, has a lot of defi nitions. These defi nitions refer mostly to a general term of market and point out a specifi c character of property market. “This market is described as: – actions and interactions of people dealing with purchase, sale, exchange, use and develop of properties”, – business activity resulting in goods exchange, an abstract term of all property transactions within the whole country, – an agreement between the seller and a buyer who meet together to set a price of property exchange, – a set of mechanisms which allow to transfer rights and shares in properties, to set prices and ways of grounds (plots) use, – a forum to buy and sell, in other words a tool that enables personal contact of a buyer and a seller, – a complex of relations where buyers and sellers meet themselves through the price mechanism; mutual relations of people who change rights to property into other assets (money). Unique character of property as a good causes that property market is signifi - cantly characteristic in comparison with other markets. It seems to be less transpar- ent, worse organised and more diffi cult for research and analysis. It has, however, features common with other markets” [Kucharska-Stasiak 2000, p. 38]. Property market is not a uniform market. To make an assumption that property market has various criteria of identity, we can specify different aspects of this market. “The most popular criteria of market identity are as follows: – objective criterion that identifi es a property market due to property functions (housing market, commercial market, industrial market, agricultural market, special properties), – criterion of territorial range (local, regional, national, international market), – criterion of acquire of property rights (investment market and rental market), – price criterion, – quality criterion etc.”. Very important segment of property market is a market of vacant land properties. Land is a basic term for property both within the Polish and foreign laws. Land, its purpose, its ownership and way of using it is essential to decide what should be located here. Land is a signifi cant element of every property investment and is a base

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of investment process. Every investment activity starts with purchase and adaptation of land, so it is substantial to prepare detailed analysis of a local property market. This study concerns one segment of a property market. The purpose of this research is to present growing trends on vacant land properties for single-family housing in the district of Swarzędz. The subject of this analysis were notarial deeds concerning sales and purchase transactions from the period of 2001–2009 being in possession of the Offi ces of the Poznań County Authorities. Analysis presented below shows changes within this segment of market and has research purposes. This analysis has been made with the use of elements of mathematical statistics. Pre- sented data are contained within series of detail and series of interstitial. Processed information has been presented with the use of fi gures of size curve, histograms (bar charts) and statistical Figure (broken line curve). Structure, correlations and population dynamics are the subjects of analysis. Individual coeffi cients have been calculated for total districts and in division into selected premises.

1. Territorial range of research

Property market was characterised by signiﬁ cant upward trend within the last few years. Decreasing area of vacant land properties within the city of Poznań and a lack of land development plans were the main reasons to direct demand to suburban areas.

Figure 1. Place of Swarzedz in comparison with other districts of the Poznań administrative area Source: [http://pl.wikipedia.org/wiki/Powiat_pozna%C5%84ski]

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The growing interest of purchasers can be observed among others in the Swarzędz district near Poznań. It is a municipal-rural district with good economic and social potential. Swarzędz district is a part of the Poznań administrative area and, bordering directly on Poznań city, is a signifi cant element of the agglomeration. The Poznań agglomeration together with the district of Swarzędz is the best developed area both within regional and national scale. For Swarzędz population Poznań is the main job market and the place to fulfi l requirements connected with education, culture and healthcare. Swarzędz district is, fi rst of all, a housing base for Poznań; it is less attractive as recreation or commercial base. New housing investments develop dynamically in Swarzędz and neighbouring places.

2. Range of turnover

There have been analysed 737 sale transactions of vacant land properties for single- family housing in the district of Swarzędz. The biggest number of transactions was concluded in Gruszczyn area (22.93% of all transactions). Signiﬁ cant number of transactions was observed also in Zalasewo – 13.98%, Garby – 12.08% and Pacz- kowo – 11.80%. The ultimate in turnover took place in 2007. Not less transactions were concluded also in 2004, 2006 and 2009. Figure 2 presents a share of individual premises of the Swarzędz district in the total number of transactions.

180 169 160 140 120 89 87 103 100 80 70 71 60 33 40 28

Number of transactions 23 23 11 10 16 20 1 3 0 Jasin Garby Bogucin àRZĊFLQ Zalasewo Janikowo 6ZDU]ĊG] Rabowice Paczkowo Kobylnica Gruszczyn Gortatowo Wierzonka 1RZD:LHĞ Kruszewnia Premises Figure 2. Number of sale transactions of vacant land properties for single-family housing concluded in the district of Swarzędz in 2001–2009 due to premises Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

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Table 1. Number of sale transactions of vacant land properties for single-family housing depending on building plots area

Plot area 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total up to 500 524675291050 501–750 18 11 36 28 17 23 20 12 24 189 751–1000 7 5 13 36 19 37 41 22 21 201 1001–1500 7 4 23 29 28 36 51 18 28 224 more than 1500 22167811171973 Total 39 24 77 105 78 109 125 78 102 737

Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań.

50,00% 45,00% 40,00% 35,00% 30,00% 25,00% 20,00% 15,00% Number of transactions 10,00% 5,00% 0,00% 2001 2002 2003 2004 2005 2006 2007 2008 2009 Years do 500 501-750 751-1000 1001-1500 pow. 1500

Figure 3. Distribution of land area (in m²) for single-family housing sold in the Swa- rzędz district in 2001 – 2009 Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

In the years 2001–2009 there was the biggest demand for plots of 500–1500 m² (quite 83.5% of total number of transactions concluded). Vacant land properties of the smallest area (up to 500 m²) and the biggest one (more than 10,000 m²) made a relatively small group of transactions concluded – 16.5% approximately.

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3. Price dynamics of vacant land properties within the analysed period

There could be observed a consistent increase within the range of chronological changeability of price per 1 m². Curbing of an increase of average price of 1 m² within analysed period of time took place in 2004 only when prices decreased slightly (by 7% approx). in comparison with the previous year. Average yearly prices of 1 m² exceeded an average price (113.11 PLN) from the last three years of analysed period of time. The biggest increase of average prices of 1 m² of land in comparison with the previous years, took place in 2007 and 2008. In 2007 price of 1 m² increased by 71% in comparison with the last year and in 2008 prices increased by 39%. Price of 1 m² of land increased four times more within the period of nine years.

350

300

250

200

150

100

50 Average price of 1 m² (in PLN) Average 0 12341234123412341234123412341341234

2001 2002 2003 2004 2005 2006 2007 2008 2009

Figure 4. Changes in price level of 1 m² of land for single-family housing in the district of Swarzędz in 2001–2009 Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

Table 2. Price dynamic of 1 m² of vacant land properties for single-family housing in the district of Swarzędz in 2001–2009

Year Average price of 1 m² Previous year = 1 Year 2001 = 1 2001 47,66 – 1 2002 59,34 1,25 1,25 2003 60,21 1,01 1,26 2004 55,91 0,93 1,17

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cont. Table 2 Year Average price of 1 m² Previous year = 1 Year 2001 = 1 2005 67,72 1,21 1,42 2006 85,71 1,27 1,8 2007 146,38 1,71 3,07 2008 202,87 1,39 4,26 2009 204,19 1,01 4,28

Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań.

4. Analysis of price level of vacant land properties for single-family housing

Average prices of 1 m² of vacant land properties for single-family housing in the district of Swarzędz in analysed period of time amounted to the limits of 47.66 PLN – 204.19 PLN and increased systematically year by year. In 2002–2004 these prices were going for around the same level. The biggest price increase can be observed in 2007 and 2008 what is connected with a signifi cant growth of demand for this kind of properties. Coeffi cients of variation fl uctuating within the limits of 40–57% prove that analysed group is not consistent. The highest price diversity took place in 2002 (54.77%) and in 2009 (57.53%). In the period of 2002–2004 fi fty per cent of building plots were sold at price higher than 47–50 PLN approx. In the following years prices of half number of transactions increased systematically and in 2008 a price level of 1 m² of building plot amounted to 190 PLN. Average price of 1 m² of vacant land properties for single-family housing in the district of Swarzędz in 2001–2009 amounted to 113.11 PLN. Transaction price of 1 m² of land deviates from an average price by 87.94 PLN. The lowest price (20 PLN per 1 m²) reached a land property of 4323 m² located in Łowęcin and the highest price (776.74 PLN per 1 m²) reached a land property of 831 m² located in Zalasewo. One half of land properties being the subject of this analysis reached a price higher than 86.96 PLN and the most popular price level amounted to 90 PLN per 1 m². Coeffi cient of skewness shows the right-hand asymmetry. It means that in 2001–2007 transaction prices were higher than average price.

Table 3. Basic statistical measures of price of 1 m² of land properties for single-family housing in the district of Swarzędz in 2001–2009 (in PLN)

2001 2002 2003 2004 2005 2006 2007 2008 2009 Total Average 47,66 59,34 60,21 55,91 67,72 85,71 146,38 202,87 204,19 113,11 Standard 22,99 32,5 28,69 26,47 30,68 33,02 67,4 96,32 117,46 87,94 deviation

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cont. Table 2 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total Coefﬁ cient of variation 48,25 54,77 47,66 47,34 45,30 38,52 46,04 47,48 57,53 77,75 (in %) Maximum 105 145,12 150 150,18 179,1 199,31 399,2 522,19 776,74 776,74 Minimum 20,92 20,21 21,28 20 22,22 32,59 40 42,48 43,14 20 Median 39,27 47,49 49,38 50 62,8 80 141,64 189,48 174,03 86,96 Modal value 40 80 90 90 38 75 80 250 150 90 Coefﬁ cient 0,33 –0,64 –1,04 –1,29 0,97 0,32 0,98 –0,49 0,46 0,26 of skewness Sample size 39 24 77 105 78 109 125 78 102 737

Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań.

250,00 202,87 204,19 200,00 146,38 150,00

100,00 85,71 59,34 60,21 67,72 47,66 55,91 50,00 Average price of 1 m² [in PLN] Average

0,00 2001 2002 2003 2004 2005 2006 2007 2008 2009 Years Figure 4. Average prices of 1 m² of vacant land properties for single-family housing in separate years Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

5. Price analysis in chosen premises of the district

In the next part of price analysis of 1 m2 of land in division into premises, some part of smaller towns was passed over due to the relatively small number of transactions concluded; price levels of these transactions in comparison with other premises were also inadequate. In chosen premises average price of 1 m2 of land ﬂ uctuated from 64.86 PLN to 170.54 PLN. In 2001–2005 the highest prices were

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in Swarzędz premises while in 2006, 2007 and in 2009 Zalasewo premises were classifi ed at the fi rst place in this ranking. Huge price growth of 1 m2 of land (even more than 100% in some premises) could be noticed in 2007 comparing to previous year. The lowest average prices of 1 m2 of land were observed in premises of Paczkowo, Jasin and Gortatowo – both in separate years and within the whole analysed period of time. This difference may result from worse technical infra- structure in these premises in comparison with other ones. The highest average prices of 1 m2 of land were observed in the premises of Swarzędz and Zalasewo. The attractiveness of land properties in these premises is signifi cantly infl uenced with the closest neighbourhood of Poznań city, well-developed public transport and intensive economic development.

Table 4. Average price of 1 m² of land properties for single-family housing in the district of Swarzędz in 2001–2009 depending on chosen premises (in PLN)

Premise 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total Garby 30,57 40,62 47,66 61,59 70,64 110,64 180,69 192,66 188,65 144,59 Gortatowo 34,51 20,21 39,67 47,96 40,58 63,44 113,18 151,75 175,62 97,86 Gruszczyn 54,3 – 53,21 58,01 71,27 88,02 136,84 219,49 209,11 111,33 Jasin 35,58 60 49,47 54,37 66,14 79,36 144,3 213,72 157,97 78,31 Paczkowo 30,45 29,82 32,85 33,71 39,57 45,81 94,5 153,82 152,81 64,86 Swarzędz 91,6 104,75 80,08 90,11 97,55 121,14 121,78 306,34 257,11 170,54 Zalasewo 51,14 88,13 89,09 79,17 94,76 105,43 247,96 195,69 336,35 141,99

Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań.

400,00 350,00 300,00 250,00 200,00 150,00 100,00 50,00

Average price of 1 m² [in PLN] Average 0,00 Garby Gortatowo Gruszczyn Jasin Paczkowo 6ZDU]ĊG] Zalasewo

2001 2002 2003 2004 2005 2006 2007 2008 2009 Figure 6. Average price of 1 m² of land properties for single-family housing in the district of Swarzędz in 2001–2007 depending on chosen premises (in PLN) Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

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6. Analysis of prices of land properties depending on plots’ area

Prices of 1 m2 of vacant land properties for single-family housing depending on area of typical plot were also analysed. Plots were divided into 5 segments: up to 500 m2 of area, 501–750 m2, 751–1000 m2, 1001–1500 m2 and more than 1500 m2.

Table 5. Average prices of 1 m2 of vacant land properties for single-family housing depending on plot area

Plot area 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total up to 500 61,79 108,49 63,74 59,73 83,43 95,66 191,12 215,48 230,94 136,65 501–750 43,89 68,23 76,88 73,53 74,38 100,3 179,65 217,86 268,76 119,56 751–1000 41,33 47,83 54,16 45,53 64,56 92,14 159,63 235,19 224,57 119,12 1001–1500 47,34 36,37 37,28 53,02 67,09 74,46 128,06 195,13 168,23 99,04 more than 1500 69,5 36,1 51,93 46,07 46,94 58,49 113,33 152 139 106,95 Total 47,66 59,34 60,21 55,91 67,72 85,71 146,4 202,9 204,2 113,11

Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

The most expensive plots were the smallest ones up to 500 m2. High and simi- lar price reached also plots between 501–750 m2 and 751–1000 m2. It is the most popular area of land property typical for single-family housing purposes. It is easy to notice that the bigger plot’s area, the smaller price. Total increase of average price of plots in the ﬁ fth segment results from the fact that the biggest number of transactions for plots of more than 1500 m2 took place within the last three years of this analysis when prices were the highest (Table 1).

160,00 136,65 140,00 119,56 119,12 106,95 120,00 99,04 100,00 80,00 60,00 40,00 20,00

Average price of 1 m² [in PLN] Average 0,00 do 500 501–750 751–1000 1001–1500 pow. 1500 Area [in m²] Figure 7. Average prices of 1 m² of vacant land properties for single-family housing depending on plot’s area Source: Own researches basing on data of the County Centre of Geodetic and Cartographic Documentation in Poznań

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Summary

To sum up, period of time between 2001 and 2005 was relatively stable in prices of land properties for single-family housing. Dynamic increase of these prices in years 2006–2008 is connected with growing demand and accessibility to bank credits. Performed analysis shows that the Swarzędz district’s property market is a local market strictly connected with Poznań one. Population of the Poznań agglomeration is inﬂ uenced by changes and trends of worldwide character and people settle on the outskirts of big towns, for example in the Swarzędz district. We can observe“escape” of Poznań’s inhabitants to neighbouring places. It results signiﬁ cant movements within property market when speaking about vacant land properties for single-family housing.

References

Bryx, M. (red.), 2004, Wprowadzenie do zarządzania nieruchomości, Poltext, Warszawa. Kucharska-Stasiak, E., 2000, Nieruchomość a rynek, Wydawnictwo Naukowe PWN, War- szawa. Prystupa, M., Rygiel, K., 2003, Nieruchomości – deﬁ nicje, funkcje i zasady wyceny, Dom Wydawniczy Elipsa, Warszawa. Rudnicki, S., 2007, Własność nieruchomości, Lexis/Nexis, Warszawa. Ustawa z dnia 24 kwietnia 1964 r. Kodeks cywilny, Dz.U. z 1964 r., nr 16, poz. 93 z póź- niejszymi zmianami. Ustawa z dnia 21 sierpnia 1977 r. O gospodarce nieruchomościami, Dz.U. z 2004 r., nr 261, poz. 2603 ze zmianami.

ZMIANY CEN DZIAŁEK NA LOKALNYM RYNKU NIERUCHOMOŚCI (NA PRZYKŁADZIE NIEZABUDOWANYCH NIERUCHOMOŚCI GRUNTOWYCH PRZEZNACZONYCH POD BUDOWNICTWO MIESZKANIOWE JEDNORODZINNE W GMINIE SWARZĘDZ)

Streszczenie: Ostatnie lata rynek nieruchomości gruntowych charakteryzowała znaczna tendencja wzrostowa. Malejący obszar niezabudowanych gruntów na terenie miasta oraz brak planów zagospodarowania przestrzennego skierowały popyt na tereny wokół miasta. Aglomeracja poznańska, a wraz z nią gmina Swarzędz, jest jednym z najbardziej dynam- icznie rozwijających się obszarów, i to nie tylko w skali regionu, ale także całego kraju.

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Opracowanie dotyczy jednego z segmentów rynku nieruchomości. Przedmiotem rozważań jest analiza poziomu cen transakcyjnych nieruchomości gruntowych przeznaczonych pod zabudowę mieszkaniową jednorodzinną w podmiejskiej gminie Swarzędz. W trakcie analizy zbadano akty notarialne dotyczące transakcji kupna-sprzedaży odnotowane w latach 2001–2009, będące w posiadaniu Starostwa Powiatowego w Poznaniu. Analiza zawarta w opracowaniu przedstawia zmiany zachodzące w tym segmencie rynku i posiada wartość poznawczą. Została przeprowadzona przy wykorzystaniu odpowiednich elementów statysty- ki matematycznej. Dane zawarto w postaci szeregów szczegółowych, a niektóre – szeregów z przedziałami. Przetworzone informacje zaprezentowane zostały za pomocą wykresów krzywej liczebności, histogramów i ﬁ gureu statystycznego. Dokonano analizy struktury, współzależności i dynamiki zbiorowości. Poszczególne wskaźniki wyliczono dla gminy ogółem oraz w podziale na wybrane obręby. Celem badania było przedstawienie tendencji rozwojowych na rynku niezabudowanych nieruchomości gruntowych przeznaczonych pod zabudowę mieszkaniową na lokalnym rynku nieruchomości. Przeprowadzona analiza wykazała, że rynek nieruchomości gminy Swarzędz jest rynki- em lokalnym, ściśle powiązanym z Poznaniem. Ludność aglomeracji poznańskiej ulega wpływowi zmian i trendów zachodzących w skali ogólnoświatowej i osiedla się na obrzeżach dużych miast, m.in. gminy Swarzędz. Można zaobserwować „ucieczkę” mieszkańców Poznania do pobliskich miejscowości, co przyczyniło się w ostatnich latach do znacznego ożywienia także w obrocie nieruchomościami niezabudowanymi przeznaczonymi pod budownictwo mieszkaniowe.

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