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 infor- mation 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 mar- ket 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. ZZNN 1188.indd88.indd 7788 22011-09-18011-09-18 119:26:089:26:08 Changes of plots prices on local property market 79 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 ZZNN 1188.indd88.indd 7799 22011-09-18011-09-18 119:26:089:26:08 80 Justyna Tanaś 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] ZZNN 1188.indd88.indd 8800 22011-09-18011-09-18 119:26:089:26:08 Changes of plots prices on local property market 81 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 ZZNN 1188.indd88.indd 8811 22011-09-18011-09-18 119:26:089:26:08 82 Justyna Tanaś Table 1. Number of sale transactions of vacant land properties for single-family ho- using 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).