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THE FOUNDER >> ISSN 1231-8841 >> eISSN 2450-534X PUBLISHER OF THE FOUNDATION World of he Foundation of the Cracow University of Economics, in addition ŚWIAT NIERUCHOMOŚCI >> 108 (2/2019) Tto its statutory purposes which include, among others: Conducting broad educational activity for the academic circles in social, economic and technical sciences, REAL ESTATE Initiating actions supporting the European integration and developing contacts and cooperation among societies, Funding scholarships and other kind of material assistance to students URBAN AND from poor families, including, in particular, students of the Cracow University of Economics coming from the country, REGIONAL DEVELOPMENT Improvement in the social and living conditions of disabled students and in the accessibility of classes organized by the Cracow University of INVESTMENTS Economics, it decides to enrich its economic activity by the following scope of services: Conference offer Providing financial services in conference budget Developing the programme of an event and coordination during it Full scope of accommodation and catering services Preparing detailed post-conference reports Publishing offer Publishing books and albums Professional graphic design Typesetting and proof services Quick print according to individual guidelines Advisory offer Preparing strategy of operations for companies and functional strategies Preparing economic and financial analyses Asset and enterprise valuation Feasibility studies of investment projects ul. Rakowicka 27 Carrying out, developing market and marketing research 31-510 Kraków tel. 12 293 74 63 We provide our services comprehensively or only within a selected scope. fax 12 293 74 89 Starting cooperation with us, not only do you have a guarantee of excellent service but also a unique possibility to support the Foundation in the area of the academic society. e-mail: [email protected] TABLE OF CONTENT EDITORIAL .................................................................................................................................................. 2 ARTICLES The Elasticity of the Office Space Market in Poland: Looking for the London Effect Krzysztof Nowak ........................................................................................................................................ 5 Seniors’ Housing Preferences in the Rural Areas Anna Jancz ................................................................................................................................................ 19 A Synthetic Assessment of the Impact of Housing Management Variables on the Level of Development of Communes in Świętokrzyskie Voivodship in the Years 2009-2017 Paweł Dziekański, Urszula Karpińska .............................................................................................. 36 An Analysis of Municipal Real Estate Resources in Poland Milena Bera, Monika Śpiewak-Szyjka ............................................................................................. 56 The Evolution of Housing Policy Models in European Countries. A Theoretical Approach Ewa Kucharska-Stasiak, Magdalena Załęczna, Konrad Żelazowski .................................... 69 OTHERS Jubilee Conference of the Department of Investment and Real Estate of the Poznan University of Economics entitled “Real Estate Market Border” (Poznan, 9-10 May 2019) Katarzyna Kania ...................................................................................................................................... 86 PUBLISHER Foundation of the Cracow University of Economics Advertisements and subscriptions are accepted by ul. Rakowicka 27, 31-510 Kraków the Publisher’s Secretary Office, the address as tel. (12) 293 74 63, fax. (12) 293 74 89 above. The paper version is the primary version. e-mail: [email protected] Publications are indexed in the CEJSH data base, internet: www.swiatnieruchomosci.krakow.pl Index Copernicus International, BazEkon, EBSCO, Google Scholar, EconPapers – RePEc., ERIH PLus, Bank Account of the Foundation of the Cracow University of CEOOL, and ProQuest. Economics: BNP Paribas Bank Polska S.A. IBAN: PL 96 1600 1013 1821 3894 5000 0005 SWIFT: PPABPLPK EDITORIAL Dynamic changes in real estate worldwide, as well as the recent evolution of real estate economy pose serious challenges for policy makers and a research agenda. Growing empirical evidence coming from emerging and evolving markets questions several well-established theoretical models developed in the US and the EU. The need for quality research on real economics and investment based on unique evidence coming from Central and Eastern Europe requires further evolution of World of Real Estate Journal. Starting from this issue all papers published in the journal are in English to improve the dissemination of the research results. We hope this long-awaited change will foster the future development of WOREJ and attract new authors and readers. The issue contains five papers focusing on the real estate market, regional development and housing policy. Along with the articles, within the conference news section, the reader can find a report on a recent conference held in Poznan. Within this issue we are publishing two research papers focused on the real estate market. Despite differences in the scope and methodology, both papers address interesting and valid questions regarding recent trends on office and housing markets. The first paper entitled "Elasticity of the Office Space Market in Poland: Looking for the London Effect” was written by Krzysztof Nowak and investigates the office space markets in Warsaw, Krakow, Wroclaw and Poznan. The paper uses the Error Correction Model to estimate price and income elasticities of demand for office space. In the second paper entitled "Seniors’ Housing Preferences in Rural Areas” Anna Jancz focuses on demand for housing. Using survey data the author explores stated preferences of seniors in rural communes of the Greater Poland Province, and focuses on migration propensity. Additionally, the paper investigates seniors’ choices regarding location, as well as housing services and quality. Within the second thematic section on urban and regional development we are publishing two other articles related to regional development. In addition to the thematic similarity, these papers share the empirical approach, as they both apply taxonomic methods. The third paper written by Milena Bera and Monika Śpiewak, entitled “An Analysis of Municipal Real Estate Resources in Poland”, investigates similarities and differences among provinces in Poland, using selected clustering methods. The authors calculate the taxonomic development measure and cluster 16 provinces in Poland based on selected indicators related to municipal real estate resources. The fourth paper was written by Paweł Dziekański and Urszula Karpińska. The article entitled “A Synthetic Assessment of the Impact of Housing Management Variables on the Level of Development of Communes in the Świętokrzyskie Voivodship in the Years 2009-2017” uses TOPSIS taxonomic method based on selected housing management indicators. Last but not least, in the review paper entitled "The Evolution of Housing Policy Models in European Countries. A Theoretical Approach” Ewa Kucharska- Stasiak, Magdalena Załęczna and Konrad Żelazowski summarise the evolution of housing policy models in Europe and assess the effects of their implementation. In the regular conference news section Katarzyna Kania reports on the Jubilee Conference of the Department of Investment and Real Estate of the Poznan University of Economics and Business entitled “Real Estate Market Border” held in May 2019. Michał Głuszak Thematic Issue Editor ADVISORY BOARD EDITORIAL BOARD Head of the Council: Editor-in-Chief: Prof. Adam Nalepka Michał Głuszak, PhD Cracow University of Economics, Poland Thematic Editor: Prof. Ion Anghel Prof. Andrzej Jaki The Bucharest University of Economics Studies, Agnieszka Małkowska, PhD Romania Prof. Bartłomiej Marona Prof. Stanisław Belniak Cracow University of Technology, Poland Statistical Editors: Prof. Iwona Foryś Prof. Ryszard Borowiecki WSB University, Poland Language Editors: Krzysztof Kwiecień, MSc – (English) Prof. Marek Bryx Małgorzata Maciejas, MA – (Polish) Warsaw School of Economics, Poland Editorial Assistant: Prof. Krystyna Dziworska Karolina Orzeł, PhD WSB University in Gdansk, Poland Tamara Floricic, PhD Jan Konowalczuk, PhD Eng. Juraj Dobrila University of Pula, Croatia Cracow University of Economics, Poland Prof. Henryk Gawron Prof. Małgorzata Krajewska Poznan University of Economics and Business, Nicolaus Copernicus University, Poland Poland Prof. Krzysztof Jajuga Prof. Maciej J. Nowak West Pomeranian University of Technology in Wroclaw University of Economics, Poland Szczecin, Poland Prof. Ewa Kucharska -Stasiak Łukasz Strączkowski, PhD University of Lodz, Poland Poznan University of Economics and Business, Poland Prof. Ewa Siemińska Nicolaus Copernicus University, Poland Prof. Anna Szelągowska Warsaw School of Economics, Poland Prof. Daniela Špirková Slovak University of Technology in Bratyslava, Anna Wojewnik-Filipkowska, PhD Slovakia University of Gdansk, Poland Prof. Zygmunt Szymla Konrad Żelazowski, PhD Cracow University of Economics, Poland University of Lodz, Poland Prof. Anna Zhivkova Gospodinowa Varna University of Economics, Bulgaria Jarosław Plichta, PhD Foundation of the Cracow University of Economics, Poland The Elasticity of the Office Space Market in Poland: