Eres : Digital Library : Works

Paper eres2003_116:
The Future of Polish Real Estate Market

id eres2003_116
authors Belniak, Stanislaw
year 2003
title The Future of Polish Real Estate Market
source 10th European Real Estate Society Conference (10-13 June 2003) Helsinki, Finland
summary Polish real estate market is still displaying downturn characteristics, the consequence of a difficult financial situation of the whole country. Real estate requires considerable financial outlays. At the same time, there are no free assets for investment on the market and business entities have no liquidity. Consequently, these conditions exert negative impact both on the number, as well as, the volume of transactions. In 2001 the growth rate of Polish economy declined. The growth rate of GDP amounted to 1.2%, budgetary deficit equaled ń4% of GDP, and the inflation rate stood at 4.5% In the course of the election campaign for the Polish Parliament an ominous ěbudgetary holeî was discovered and the situation of the economy was made even worse by galloping unemployment and discouraging proposals of budgetary reforms and tax hikes. 2002 brought a further decline of GDP. The total value of real estate transactions dropped to one million PLN of GDP and unemployment index reached 18.75. Yet, inflation settled at 1.8% which was a positive indication.
series ERES:conference
email belniaks@ae.krakow.pl
discussion No discussions. Post discussion ...
ratings
session Session 3, Institutional and Regional market aspects
last changed 2008/12/29 19:09
HOMELOGIN (you are user _anon_412116 from group guest) Powered by SciX Open Publishing Services 1.002