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The Impact of Selected Attributes of New Residential Properties on the Timing of Their Sale: an Empirical Analysis Using the Example of a Housing Estate in Szczecin

Author

Listed:
  • Gdakowicz Anna

    (University of Szczecin, Aleja Papieża Jana Pawła II 22A, 70-453 Szczecin)

  • Putek-Szeląg Ewa

    (University of Szczecin, Aleja Papieża Jana Pawła II 22A, 70-453 Szczecin)

Abstract

The article summarizes research on the impact of selected characteristics of new apartments on the timing of their sale. The analysis covered properties built between 2014 and 2022 by a single developer in Szczecin. The study was based on data on a housing estate with consistent development, divided into four construction stages. Duration analysis and hedonic regression methods were used. Key findings of the study are as follows: window exposure: apartments with south- or west-facing windows sold faster; view from the window: a positive view (e.g., of green areas) accelerated sales, while a negative view (e.g., a railroad embankment) delayed them; location: apartments on the top floors sold faster; construction stage: the fastest sales took place in Stage 2, and the slowest in Stage 1, which was explained by the unattractive surroundings of the construction site; number of rooms: the fastest sales were two-room apartments, which were more affordable and attractive for investment. The survey indicates that the key factors for buyers are the comfort of the apartments, the view from the window, sunshine and the orderliness of the development’s surroundings. The results provide valuable guidance to developers and designers, making it easier to tailor new developments to customer preferences.

Suggested Citation

  • Gdakowicz Anna & Putek-Szeląg Ewa, 2025. "The Impact of Selected Attributes of New Residential Properties on the Timing of Their Sale: an Empirical Analysis Using the Example of a Housing Estate in Szczecin," Real Estate Management and Valuation, Sciendo, vol. 33(3), pages 60-74.
    • Handle: RePEc:vrs:remava:v:33:y:2025:i:3:p:60-74:n:1006
    DOI: 10.2478/remav-2025-0026
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    1. repec:eme:jpvi00:14635789810228204 is not listed on IDEAS
    2. Delores Conway & Christina Li & Jennifer Wolch & Christopher Kahle & Michael Jerrett, 2010. "A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 150-169, August.
    3. Marcelo Cajias & Philipp Freudenreich, 2018. "Exploring the determinants of liquidity with big data – market heterogeneity in German markets," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 36(1), pages 3-18, February.
    4. Andrew Narwold & Jonathan Sandy & Charles Tu, 2008. "Historic Designation and Residential Property Values," International Real Estate Review, Global Social Science Institute, vol. 11(1), pages 83-95.
    5. Elena G. Irwin, 2002. "The Effects of Open Space on Residential Property Values," Land Economics, University of Wisconsin Press, vol. 78(4), pages 465-480.
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    Keywords

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    JEL classification:

    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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