THE EFFECT OF PERPETUAL USUFRUCT ON SINGLE-FAMILY HOUSES PRICES IN POZNAŃ
THE EFFECT OF PERPETUAL USUFRUCT ON SINGLE-FAMILY HOUSES PRICES IN POZNAŃ
Author(s): Radosław Trojanek, Justyna Tanaś, Maria TrojanekSubject(s): Geography, Regional studies, Micro-Economics, Present Times (2010 - today)
Published by: Fundacja Centrum Badań Socjologicznych
Keywords: ground lease; perpetual usufruct; house prices;
Summary/Abstract: The paper explores the influence of the perpetual usufruct (a form of owning the ground similar to a long-term lease in Poland) on house prices in Poznań. The research is based on a data set of 1074 geo-coded single-family houses transactions for the years 2010 to 2015. In this research, the hedonic method was used in Ordinary Least Squares (OLS), Weighted Least Squares (WLS) and Median Quantile Regression (Median QR) models. We found substantial evidence that single-family houses constructed on perpetual usufruct lots are discounted on average at 4.1%.
Journal: Journal of International Studies
- Issue Year: 12/2019
- Issue No: 3
- Page Range: 212-221
- Page Count: 10
- Language: English