In your opinion, how can the institutional system of control and maintenance of certain standards of advertising real estate for sale be improved, so that the scale of misleading customers, the scale of pat-development used by some developers building housing estates, is significantly reduced?
In Poland, property prices have been rising continuously for many years. Even in the years of economic crises, such as the pandemic economic crisis of 2020, real estate prices, including flats in cities, increased on average by around 20 per cent. This has led to a situation where real estate prices are so high that a citizen with an average level of income from work in most commercial banks is not creditworthy enough to purchase his or her first flat with a mortgage. A serious housing shortage gap has emerged for citizens, including working middle-class citizens, including young people after graduation and families starting their working lives. The government's "Housing Plus" ("Mieszkanie Plus") programme, which was introduced in 2026, has unfortunately not been implemented. Only a few per cent of housing units were built under this programme relative to plan. Municipal housing was also not developed. The government did not develop and finance the construction of municipal housing on a larger scale so as to significantly reduce the scale of the housing shortage gap. And yet for many other purposes, which were not of an investment, developmental, pro-social nature, etc., it was the government that created additional money in recent years on the basis of additional issues of state bonds. These additional issues of treasury bonds were bought directly by the central bank and in this way, extra-budgetary, through special purpose funds created and managed by institutions of government agencies, this additional money was introduced into the economy on a large scale and financed mostly non-investment purposes, purposes not justified by economic and social issues. In this way, using a kind of creative accounting within the state's public finance system, the debt of the state's public finance system was significantly increased, but this was done in such a way that the prudential indicators of the debt of the state's public finance system and the standards for reporting this issue to the bodies of the European Union did not include all of the said debt. In 2023, in connection with the approaching parliamentary elections to be held in October 2023, which are also planned to be won for the third time by the PIS political option in power for the previous eight years, a new programme has been drawn up to revive the economic situation, which has been weakening in recent quarters, in the area of purchase-sale transactions performed on real estate and to activate investment processes in the construction of housing estates by commercially operating development companies. this programme is to be based on government subsidies for mortgage loans taken out by citizens. In this way, the main beneficiaries will be the banks selling the loans, the developers carrying out investments in housing construction and the government, which will boast in the meanstream media controlled by it before the elections as part of the election campaign that it has launched a programme that has revitalised the housing construction sector and increased the possibility for citizens to buy their first home on credit, in addition to still expensive credit, as interest rates are still high. And property prices will continue to rise and council housing will continue to be in short supply. In this situation, there are still good conditions for the development of pat-development applied multifacetedly and to a large extent by a significant proportion of commercially operating property developers building blocks of flats, houses and flats. Examples of pat-development in offers for sale of flats in Poland:
In terms of the offers presented on the Internet for the sale of new flats, there are numerous cases of misleading potential buyers, customers, citizens interested in purchasing a flat. There are cases of specifying in the advertisements that e.g. the flat is cosy, i.e. it means that it is cramped. Presented graphic visualisations of flats on developers' websites present, for example, a scale plan of the flat where the furniture is drawn smaller than in the scale plan of the flat. Green names are used for green areas in the computer visualisation of the final image of the development plan for the surroundings of a block of flats that is under construction. In the computer visualisation of the final image of the development plan for the surroundings of a block of flats that is under construction, large green areas are drawn, while in reality concrete car parks, additional roads and further blocks of flats etc. are often built in these areas.
In view of the above, I address the following question to the esteemed community of scientists and researchers:
In your opinion, how can the institutional system of control and maintenance of certain standards of advertising real estate for sale be improved, so that the scale of misleading customers, the scale of pat-development used by some developers building housing estates, is significantly reduced?
How can the issue of the relationship between the sellers of residential blocks, houses and flats built by developers and the citizens buying the properties be improved?
What do you think about this topic?
What is your opinion on this subject?
Please respond,
I invite you all to discuss,
Thank you very much,
Counting on your opinions, on getting to know your personal opinion, on an honest approach to the discussion of scientific issues and not on ready-made answers generated in ChatGPT, I deliberately used the phrase "in your opinion" in the question.
The above text is entirely my own work written by me on the basis of my research.
I have not used other sources or automatic text generation systems such as ChatGPT in writing this text.
Copyright by Dariusz Prokopowicz
Warm regards,
Dariusz Prokopowicz
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