DOES THE FEATURE OF LOCATION ON THE FLOOR AFFECT THE MARKET VALUE OF RESIDENTIAL REAL ESTATES?

Abstract

The price and market value of real estate are influenced by a number of attributes. Some of them, such as location, neighborhood or area, have a universal dimension, while others result from the specificity of the analyzed real estate segment. The aim of the study was to assess the impact of the feature of location on the floor on the value of residential real estate. The analysis covered the actual market decisions of consumers (so-called revealed preferences) and declared preferences (so-called expressed preferences). In the first case, the study covered transaction prices recorded in 2022 in the Śródmieście and Wola districts of the capital city of Warsaw. In the second case, the study was based on a survey conducted in two research groups. The first consisted of potential buyers (people not professionally associated with the real estate market) and the second were property appraisers. The analyses took into account the division of buildings by height and construction technology. The obtained results were subjected to comparative analysis and selective cross-analysis.