This paper is based on the hypothesis that: “Spatial planning should regulate spatial development, taking into account the public and private interests, and enabling the development of public and private investments in construction projects. Investors may be discouraged from construction on account of too small or too excessive a number of spatial implementation conditions (land use guidelines) in particular, where an adequate professional basis has not been provided” This hypothesis has been verified by analyzing spatial planning processes in Poland and Slovenia, two countries whose centrally-planned economies (in Slovenia, this was called the socialist market economy) have been transformed into functioning market economies. The main aim of this study was to discuss the significance of spatial planning documents in the investment process and their contribution to the preservation of spatial order. Special emphasis was placed on planning documents that allow construction in areas not covered by a local zoning plan. In Poland, the relevant document is the outline planning permission for development of land or property. Investors are required to prepare extensive source documents that are used by the (local) authorities for issuing outline permissions for the development of land and of property. Due to a lengthy procedure for obtaining outline planning permission, development is delayed and, as a consequence, investors are discouraged from building. In Slovenia, the relevant spatial plans at the local level include the municipal spatial plan, which set out the spatial implementation conditions and the detailed spatial plan. The spatial implementation conditions are the criteria and conditions for intervention as determined by the spatial planning document, in accordance with which the acquisition of building permits under regulations on construction is prepared. These can have a significant impact on the performance of the investment project. In some cases, such conditions even discourage investors from building, because they are not on an adequate professional basis. The three examples discussed in this paper show that both too general and too precise spatial implementation conditions (land use guidelines) are unfavorable for investors and validate the hypothesis.

Testing what factors create the market value of real estate is key information when preparing property valuations as well as other opinions and professional evaluations on the basis of which court verdicts or administrative decisions are made. One of the factors influencing the value of some real estate is the level of noise present in the surroundings, which can lead to the occurrence of noise nuisance negatively affecting social relations. Due to the fact that the analysis of the attractiveness of a location is the basis for properly determining the market value of real estate, the present article is dedicated to the methodology of assessing the noise nuisance of real estate surroundings. Four methods of assessment are proposed in the work: two of an objective nature, based on the measurements of noise and spatial analyses of data included in a strategic noise map, as well as two of a subjective nature, accounting for, among others, the individual perceptions of real estate users. The results of studies using the above methods can serve as a source of information on real estate as well as aid decision processes in the scope of real estate management. Theoretical deliberations were supported by a sample assessment of the noise nuisance of real estate surroundings carried out using two of the presented study methods.

The present article is an attempt at to prove the thesis that the accurate selection of land use in a local spatial development plan carries over to the behaviours of investors and has a positive influence on the value of land affected by noise nuisance neighbouring an airport-i.e. it does not depreciate it. To this aim, a case study of transaction prices of non-developed land located near the Bydgoszcz airport-Szwederowo was carried out. In its region, two study areas were selected: I-with a noise level of 55-60 dB and II-with a noise level not exceeding 55 dB, and next, the market of land zoned for services-related and services-technical development, parking lots, depots, and warehouses in these areas was diagnosed. Resources of the strategic noise map (SNM) were used in the research. The research period covered years 2016-2018. The studies show that the location of a real property in an impact area of airport noise was not an obstacle and did not limit market turnover of real property which remained under the unfavourable influence of this factor. The reason behind the demand is the shrewd introduction of functions in the local plan in the area of increased noise levels as an expression of coherent land use planning. The article addresses the need for the real estate market for help in planning, decision-making and implementation activities in the field of spatial and real estate management.

The understanding of price-setting attributes operating on local real estate market is not only an essential element of property appraisers’ work, it can also greatly assist the professional activities of real estate agents. However, its primary importance is for the market – facilitating the decision-making processes of developers (developers become aware of the buyers’ expectations and preferences, making it possible to more accurately form market offers and pricing strategy). With the use of computer-assisted interviewing, a questionnaire was designed to find out students’ preferences in the housing market of large Polish cities. The research was undertaken at six universities: Nicolaus Copernicus University in Torun, Poznan University of Economics, Wroclaw Medical University, Wroclaw University of Environmental and Life Sciences, University of Technology and Life Sciences in Bydgoszcz, and President Stanislaw Wojciechowski Higher Vocational State School in Kalisz. At each university, the survey was carried out on two groups of students: one included those who had chosen specializations related to the real estate market, the other one – students who did not explore the subject of the real estate market in their field of studies. The research can make a significant contribution to the problems of real estate market analysis. The results are the first part of a broader concept of research, which ultimately aims to internationalize the findings.