Kryzysogenny wzrost cen na polskim rynku mieszkaniowym

W artykule omówiono przyczyny dynamicznego wzrostu wartości nieruchomości mieszkalnych w ciągu ostatnich kilku lat. Przedstawiono czynniki determinujące zmiany cen na rynku mieszkalnictwa w średnim i długim okresie. Ukazane zostały zagrożenia dla polskiego rynku nieruchomości wynikające zarówno z fundamentalnych własności, jak i z doświadczeń na rynkach zagranicznych.

The article describes the causes of the dynamic increase in values of housing real estates throughout the last years. Factors determining changes in the market prices in the medium- and long-term perspective are presented. Threats to the Polish market in real estates resulting both from the fundamental values and experience with international markets are highlighted. The study aims at responding to the questions asked in the introduction to the article, that is: (1) what are the causes of recent price increases in the housing market? and (2) what are possible consequences of those changes in the long run? Responses to the above questions are provided in further parts of the study. That was possible thanks to an analysis of the macroeconomic environment of the housing market performed in the paper. The author indicate factors determining changes in prices and conditions for the long-term balance in the market along with departures from it in a shorter perspective.