DYNAMICS OF THE REAL ESTATE PRICES IN THE LIGHT OF THE CATASTROPHE THEORY

• Authors: Sławomir Kulesza , Mirosław Bełej
• Languages of publication: EN

Abstracts

EN

The paper describes application of catastrophe theory for analysis of trends of real estate prices inPoznan. It turns out that the evolution of the real estate market is comprised of two main processes: long-term evolution in the area of a non-degenerate stability and discontinuous, rapid changes in the area of a degenerate stability. In the macro scale, the construction and developing branch contributes largely to the Gross Domestic Product affecting overall economic environment. In the micro scale, however, the knowledge about future price trends may help to decide whether or not to buy or sell the house property.

Keywords

EN

catastrophe theory; real estate market; dynamics

• Publisher: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
• Journal: Acta Universitatis Lodziensis. Folia Oeconomica
• Year: 2014
• Volume: 3
• Issue: 302

Dates

published

2014-11-09

Contributors

author

Sławomir Kulesza

• University of Warmia and Mazury in Olsztyn

author

Mirosław Bełej