IDEAS home Printed from https://ideas.repec.org/a/vrs/remava/v33y2025i3p60-74n1006.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/remav-2025-0026
    Download Restriction: no
    File URL: https://libkey.io/10.2478/remav-2025-0026?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liu, Li & Liu, Qigui & Tian, Gary & Wang, Peipei, 2018. "Government connections and the persistence of profitability: Evidence from Chinese listed firms," Emerging Markets Review, Elsevier, vol. 36(C), pages 110-129.
    2. Carlos Pestana Barros & Zhongfei Chen & Luis A. Gil-Alana, 2012. "Housing sales in urban Beijing," Applied Economics, Taylor & Francis Journals, vol. 44(34), pages 4495-4504, December.
    3. Mariya Letdin & Hyoung S. Shim, 2019. "Location choice, life cycle and amenities," Journal of Regional Science, Wiley Blackwell, vol. 59(3), pages 567-585, June.
    4. Jay Mittal, 2017. "Valuing Visual Accessibility of Scenic Landscapes in a Single Family Housing Market: A Spatial Hedonic Approach," ERES eres2017_1, European Real Estate Society (ERES).
    5. Somajita Paul & Harini Nagendra, 2017. "Factors Influencing Perceptions and Use of Urban Nature: Surveys of Park Visitors in Delhi," Land, MDPI, vol. 6(2), pages 1-23, April.
    6. Sangwan Lee & Liming Wang, 2022. "Intermediate Effect of the COVID-19 Pandemic on Prices of Housing near Light Rail Transit: A Case Study of the Portland Metropolitan Area," Sustainability, MDPI, vol. 14(15), pages 1-17, July.
    7. Marcelo Cajias & Philipp Freudenreich & Anna Heller & Wolfgang Schaefers, 2018. "Censored Quantile Regressions and the Determinants of Real Estate Liquidity," ERES eres2018_203, European Real Estate Society (ERES).
    8. Mohsen Goodarzi & Nafiseh Haghtalab & Iman Saeedi & Nathan J. Moore, 2020. "Structural and functional improvement of urban fringe areas: toward achieving sustainable built–natural environment interactions," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(7), pages 6727-6754, October.
    9. Tello, Mario A., 2020. "Conceptualizing social impact: A geographic perspective," Journal of Business Research, Elsevier, vol. 119(C), pages 562-571.
    10. Jay Mittal & Sweta Byahut, 2019. "Scenic landscapes, visual accessibility and premium values in a single family housing market: A spatial hedonic approach," Environment and Planning B, , vol. 46(1), pages 66-83, January.
    11. Hillis, Holly & Karwowski, Nicole, 2025. "The Impact of Conservation Easements on Housing Prices in US Counties," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO 361122, Agricultural and Applied Economics Association.
    12. Yoo, James & Simonit, Silvio & Connors, John P. & Maliszewski, Paul J. & Kinzig, Ann P. & Perrings, Charles, 2013. "The value of agricultural water rights in agricultural properties in the path of development," Ecological Economics, Elsevier, vol. 91(C), pages 57-68.
    13. Oana Mihaescu & Martin Korpi & Özge Öner, 2024. "Does new shopping centre development benefit or harm the local suburban market? Heterogeneous effects from shopping centre type and distance," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 73(3), pages 1339-1363, October.
    14. Alejandro Norton & Marcos Herrera-Gomez, 2020. "Una propuesta de medición de daño del delito y su impacto sobre los precios de Airbnb en la Ciudad de Buenos Aires," Asociación Argentina de Economía Política: Working Papers 4358, Asociación Argentina de Economía Política.
    15. Lindsey Conrow & Siân Mooney & Elizabeth A Wentz, 2021. "The association between residential housing prices, bicycle infrastructure and ridership volumes," Urban Studies, Urban Studies Journal Limited, vol. 58(4), pages 787-808, March.
    16. Marcelo Cajias & Philipp Freudenreich & Anna Freudenreich, 2020. "Exploring the determinants of real estate liquidity from an alternative perspective: censored quantile regression in real estate research," Journal of Business Economics, Springer, vol. 90(7), pages 1057-1086, August.
    17. Bertram I. Steininger & Claudia Nadler & Melanie Franke & Carolin Pommeranz, 2018. "Wahrnehmung des Energieausweises in hypothetischen und realen Mietentscheidungen auf dem deutschen Wohnimmobilienmarkt [Perception and Price Effect of Energy Performance Certificates on the German ," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 4(1), pages 29-48, November.
    18. Ram Pandit & Maksym Polyakov & Rohan Sadler, 2014. "Valuing public and private urban tree canopy cover," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(3), pages 453-470, July.
    19. Simlai, Prodosh, 2014. "Estimation of variance of housing prices using spatial conditional heteroskedasticity (SARCH) model with an application to Boston housing price data," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(1), pages 17-30.
    20. Felix Lorenz & Jonas Willwersch & Marcelo Cajias & Franz Fuerst, 2023. "Interpretable machine learning for real estate market analysis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(5), pages 1178-1208, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:remava:v:33:y:2025:i:3:p:60-74:n:1006. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.