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- Title
REAL ESTATE AS A FACTOR OF INVESTMENT ATTRACTIVENESS OF POLISH VOIVODESHIPS.
- Authors
JAWOREK, Małgorzata; KARASZEWSKI, Włodzimierz; KUCZMARSKA, Magdalena
- Abstract
Purpose: The purpose of the article is to identify the potential investment attractiveness of Poland's voivodeships in the context of the real estate market, and to compare this attractiveness with the actual attractiveness, i.e. with the opinions of enterprises regarding the determinants of making an investment in a particular location. Design/methodology/approach: The measurement of the potential investment attractiveness of Poland's voivodeships in the context of the real estate market was made on the basis of secondary data derived from reports of the Central Statistical Office, the Bank of Local Data and the Polish Investment and Trade Agency. The identification of investment attractiveness was made on the basis of the numerical values of the synthetic index. Thus, four classes of voivodeships(A, B, C, D)were distinguished. The study of actual investment attractiveness was a primary survey and was conducted in two stages in the second half of 2022. The survey used proprietary research tools. To the first – expert survey, enterprises operating in the Kuyavian-Pomeranian region and entities representing the business environment were invited. In turn, the second stage of the research procedure covered the full set of enterprises with foreign capital, based in the voivodeship. Findings: The highest level of potential investment attractiveness in the context of the real estate market (class A) is characterized by 8 Polish voivodeships: Bódzkie, lubelskie, kujawskopomorskie, opolskie, wielkopolskie, \ląskie, dolno\ląskie and podkarpackie. A study of real investment attractiveness conducted among companies that have placed capital in KujawskoPomorskie Voivodeship confirmed the importance of location factors related to the real estate market. In the ranking of factors influencing investment attractiveness, the described characteristics of the real estate market received high marks. Research limitations/implications: Due to the variability over time of the determinants of business location choice, studies to identify them should be conducted successively. It should also be noted that due to the variability of assessments of investment attractiveness determined by the specifics of businesses, it is reasonable to take into account its types in future studies. A serious problem is the limitations in access to data, as well as the growing reluctance of entrepreneurs to participate in surveys. Practical implications: The results of the study have practical applications in decision-making processes regarding the choice of business location, especially in cases where these choices are driven by resource and cost determinants. They can also be used by institutions working for the socio-economic development of regions to encourage investors to choose their areas as places to locate capital. Originality/value: Although the topic of investment attractiveness has been addressed frequently in the available literature, the pillar of attractiveness that is the real estate market has not been considered comprehensively. In addition, the article presents the unique results of a study on identifying the importance of real estate market-related determinants that led foreign investors to choose the Kuyavian-Pomeranian region.
- Subjects
POLAND; REAL estate sales; POLISH voivodeships; BUSINESSPEOPLE; BANKING industry; REAL estate investment; FOREIGN investments
- Publication
Scientific Papers of Silesian University of Technology. Organization & Management / Zeszyty Naukowe Politechniki Slaskiej. Seria Organizacji i Zarzadzanie, 2024, Issue 192, p401
- ISSN
1641-3466
- Publication type
Article
- DOI
10.29119/1641-3466.2024.192.25