Activity of Purchase of Flats in the Area of Public Urban Planning and Architecture Intervention

Abstract

Urban space serves a variety of purposes, especially the public ones. The study of the literature suggests that the improvement of road infrastructure, the location of a new public transport network or the emergence of green areas in the city should increase the value of neighbouring real estate. The municipal authorities’ intervention in public space has a formal and legal dimension in the form of local land use plans. Since the planning arrangements are open, participants of the real estate market make their decisions rationally. Unfortunately, in practice the implementation of public tasks in urban space affects neighbouring residential properties: their attractiveness and, as a result, their market value. The article will analyse market effects on residential properties located in the vicinity of new investments such as public urban-architectural intervention. The research was conducted on the local market in Szczecin. The paper looks at changes in prices and activity of residential property buyers in the vicinity of new public investments in the period of 2005-2019. For this purpose, both statistical tools and methods of visualization of the studied phenomena were used.