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Rating Decision Rules on the Real Estate Market in Poland and in Italy – a Case Study

Author

Listed:
  • Małgorzata Renigier-Biłozor

    (University of Warmia and Mazury in Olsztyn)

  • Andrzej Biłozor

    (University of Warmia and Mazury in Olsztyn)

  • Davide di Summa

    (Politecnico di Bari)

Abstract

The specific character of the real estate market, the availability of market information and the sudden and unpredictable changes which often occur on that market, as well as the investments are affected by considerable risks and uncertainties. Moreover, the latest Global Financial Crisis (2007-2008), primarily initiated by the insolvency of mortgage borrowers, underlines the importance of the objective monitoring of the real estate market as an absolute requirement to maintain balance, increase security and minimise the risk of a crisis in urban spaces. One of the solutions is to analyse and monitor the markets continuously, in the form of the comprehensive classification. Due to this fact, the authors proposed creating a rating market classification in the form of decision rules. The results, developed on the basis of the biggest markets in Poland and Italy, indicated that there is a clear link between economic and social conditions to the residential markets in Poland, whereas in Italy the social sphere has a bigger impact on the residential market.

Suggested Citation

  • Małgorzata Renigier-Biłozor & Andrzej Biłozor & Davide di Summa, 2016. "Rating Decision Rules on the Real Estate Market in Poland and in Italy – a Case Study," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 98, pages 57-66, December.
    • Handle: RePEc:kra:journl:y:2016:i:98:p:57-66
    DOI: 10.14659/worej.2016.98.08
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    More about this item

    Keywords

    rating analysis; residential markets; procedure supportive decision making; decision rules;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical

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