<abstract xmlns="http://www.w3.org/1999/xhtml">

At the beginning of this article, it was shown that the indicators of the current so-called social distance determined by decision-makers at various stages of the epidemic development are imprecise, do not sufficiently take into account spatial relations, are unclear in public perception, and do not contain specific practical solutions. Therefore, this study undertakes the task of giving the term “social distancing” precise features, defined on the basis of geometry, and providing solutions in typical cases of the living space of the population. The geometry of the distribution of people in various situations of everyday life was considered: people standing during concerts or religious ceremonies, sitting during meals in collective catering rooms and participating in lectures, cultural, entertainment or sports events. In the latter group of tasks, the concept of building a people-distribution scheme must be adapted to the existing, arbitrary grid of real places of a lecture hall, theater hall, cinema, or stadium. The article contains some practical examples with comments and an evaluation of benefits, both in terms of ensuring safety and in terms of effective use of space.
</abstract>

The Use of Public Space During the Epidemic

<abstract xmlns="http://www.w3.org/1999/xhtml">

The COVID-19 pandemic period brings huge uncertainty, especially for the real estate sector. On the one hand, restrictions on the mobility of a population, decline in travel demands, popularization of remote work and education models caused doubts among investors questioning the future of the sector and the functions of real estate. On the other hand, the large supply of cash after the first waves of the pandemic and the upcoming increase in inflation resulted in many investors boldly investing cash in real estate, considering them as assets of stable value. This research aims to analyze the processes of value migration among real estate companies listed on the Warsaw Stock Exchange during this turbulent process. We analyzed the changes in the main drivers of value and the migration rates of the real estate sector based on data for 2018, 2019, 2020 and Q3 2021. The first period of the pandemic is the time of the collapse of the main profitability factors, sales and profitability of sales decline in the entire sector. However, the financial pillars of the analyzed companies are stable and we are not seeing signs of liquidity problems or a significant increase in debt. The second year of the pandemic is a significant reflection of most of the drivers of value, often to levels higher than those observed before the pandemic. Investors seem to remain insensitive to turbulent changes in accounting measures of effectiveness. We observe the relative stability of market measures. The processes of the migration of values from and to the sector do not show significant changes when comparing the periods before and during the pandemic. We observe various intensities of the studied phenomena in various groups of the real estate segment.
</abstract>

The Impact of Covid-19 Pandemic on Value Migration Processes in the Real Estate Sector

<abstract xmlns="http://www.w3.org/1999/xhtml">

A housing price, not considering its change over time, is widely determined by hedonic properties. This is common in literature; however, there is a significant part of a price, the so-called unexplained variance, that is not captured by hedonic models. The scientific problem of this research is how to classify and visualize architectural factors that might have an influence on the market value of a dwelling. The object of the research are architectural factors in a housing market value analysis and the aim of research is to describe the theoretical framework that defines the structure and scope of architectural variables influencing a housing market value. Not all architectural factors described in the literature review are equal in terms of scale, measurability, public or private context, aesthetic or functional priority. A systematic approach would be to classify architectural factors as a matrix of built environment properties. Two orthogonal dimensions can be identified: architectural factors spanning from non-design (functional, utilitarian) to design (abstract, unexplained) and factors spanning from architectural design (private) to urban design (public). A multidimensional and complex system of architectural variables influencing a housing market value exists. Understanding this system is crucial for a housing development to succeed.
</abstract>

Architectural Factors Influencing a Housing Market Value: A Theoretical Framework

<abstract xmlns="http://www.w3.org/1999/xhtml">

There is a belief among investors that real estate is an excellent way to protect capital from depreciation due to inflation. Research does not provide a clear answer as to whether this investors’ belief is correct, but some approaches indicate that simple econometric methods are not able, especially in the short term, to clearly indicate the existence of a relationship between inflation and property prices (Fogler, 1984). The purpose of the study –was to find the relationship between residential real estate prices and inflation in the Polish economic conditions. Methodology of the study - the study used cointegration analysis with the Engle - Granger test. The research was carried out in the period from the first quarter of 2009 to the fourth quarter of 2021. The real estate hedonic indices calculated by NBP (National Bank of Poland) and the actual and forecasted inflation rates published by the GUS (Central Statistical Office) and the NBP (National Bank of Poland) were used in the research. The result - the analysis led to a negative verification of the research hypothesis, as it could not be proved that real estate prices were related to the level of inflation during the researched period. Originality/value - the study fills a gap in the Polish market regarding the analysis of the possibility of using real estate as a hedge against inflation. The research concerned only the Polish market, but this issue has not been taken up for years, also in mature economies.
</abstract>

Residential Real Estate as a Potential Hedge of Capital Against Inflation

<abstract xmlns="http://www.w3.org/1999/xhtml">

This paper identifies the management of municipal housing stock as an area of public management in an urban municipality, taking into account the legal, institutional and market conditions in Poland. In order to achieve this aim, the author examined relevant literature and pertinent legislation and employed an analysis of source (organizational) documentation on the management of municipal housing stock in provincial capital cities. The paper begins by discussing the essence, distinctive characteristics and concepts of public management as a sub-discipline of management sciences. Subsequently, it outlines the specificity of public management in a municipality as a local government unit. Against this background, the author goes on to identify the management of municipal housing stock from the standpoint of public management in an urban municipality by formulating its definition in a broad and narrow sense, followed by a synthetic characterization of this management in a functional and institutional approach, considering its basic organizational models. The research demonstrated that the management of municipal housing stock is subject to progressive marketization and tends to be shaped by such public management mechanisms as hierarchy, market and network. These mechanisms cause this management to operate in practice in a hybrid system.
</abstract>

Municipal Housing Stock Management in Poland from a Public Management Perspective

<abstract xmlns="http://www.w3.org/1999/xhtml">

Most property valuation research concerns entire properties consisting of land and structures. However, different features of land and capital as factors of production determine different patterns shaping their value and their different impact on the total price of real estate. In this article the hedonic decomposition model, which controls for differences in housing quality, is applied to decompose the price of an apartment into the land and structure components. The depreciation rate of housing was calculated and taken into account to properly isolate the dynamics of land over time. This allowed us to compare the house price index with the dynamics of land and structure. The empirical analysis was carried out on the data for the city of Warsaw.
</abstract>

A Decomposition approach for Assessing Land Leverage and Depreciation Rate on the Real Estate Market – Evidence from Warsaw Poland

<abstract xmlns="http://www.w3.org/1999/xhtml">

Points of Interest (POI) are an inherent element of the urban landscape, and their number and density reflect, among other things, the degree of urbanization and the city’s spatial structure. The very presence of POI in the closest vicinity of a residential property may indirectly or directly affect housing value. This paper aims to demonstrate the usefulness of POI density information of different categories in assessing the quality of a property’s immediate surroundings. While the mere presence of POIs in the nearest neighborhood may affect real estate prices, the influence of specific categories may not necessarily be positive. Therefore, the study attempted to classify POIs and determine their importance in the price formation process using spatial regression models. The results indicate that a high density of POIs in the immediate area is a stimulant for housing prices. The detailed analysis indicated that only some POI categories might be related to transaction prices, while in certain situations, some POI categories may negatively impact prices.
</abstract>

Points of Interest and Housing Prices

<abstract xmlns="http://www.w3.org/1999/xhtml">

In order to accommodate the city’s growing population and land shortage, more vertical buildings are being built nowadays, and mixed-use buildings, as opposed to those with a specific purpose, like residences and businesses, are being developed. Due to the structure’s complexity, this building nonetheless presents several issues to property management. Property management companies must comprehend people’s current needs and wishes to keep up with satisfaction levels and service quality. As a result, this study aims to ascertain how well a building’s services are provided in relation to how satisfied its residents are. A total of 500 respondents were surveyed, and a partial least squares structural equation model (PLS-SEM) analysis was performed to determine the relationships between the variables. The empirical results of this study revealed that four out of the five independent variables, i.e. tangibles, reliability, assurance, and empathy, show a significant relationship with occupants’ satisfaction. These research findings may give current insight for property management firms and personnel to improve the quality of their services by implementing corrective measures and prioritizing work, which increases resident satisfaction.
</abstract>

The Relationship Between Service Quality and Occupants’ Satisfaction: A Mixed-Use Building

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Real Estate Management and Valuation

eISSN: 2300-5289   Real Estate Management and Valuation (REMV) is a journal that publishes new theoretical and practical insights that improve our understanding in the field of real estate valuation, analysis and property management.  The aim of the Polish Real Estate Scientific Society (Towarzystwo Naukowe Nieruchomości) is developing and disseminating knowledge about land management and the methods, techniques and principles of real estate valuation and the popularization of scientific achievements in this field, as well as their practical applications in the activities of economic entities.  www.tnn.org.pl - here you can find information about history of the Polish Real Estate Scientific Society (Towarzystwo Naukowe Nieruchomości)and the main research areas as well asolder published papers (in Polish language).   The journal does not have article submission charges. The journal does have Article Processing Charges (APCs). More details: www.remv-journal.com.  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(2) Paper is initially revised by Editor-In-Chief and Managing Editor or Section Editor. (3) Articles undergo content-related revision according to the Rules of revising publications in REMV. (4) Articles are passed on to reviewers. (5) Review on the form. (6) Article after review and reviewers’ annotations are sent to the author. (7) Re-review (if necessary). (8) If final conclusion of the review states "rate manuscript once again after ...", Reviewer carries out a second review of the changed article. (9) Linguistic proofreading. (10) Publication.  The minimum number of reviews required and the minimum number of reviews needed to decide on each submission: 2.  Who reviews and comments on a manuscript: reviewers selected from the list of reviewers/sometimes provided by the authors.  Types of decisions possible: (++) initial acceptation, (+) acceptation after changes suggested by the reviewer, (-) rate manuscript once again after major changes and another review, (--) reject.  Does the journal provide any English-language editing or technical editing to manuscripts in need: yes both.  Do both authors and reviewers have to acknowledge any and all conflicts of interests: yes.  If there are conflicts of interests, how does the editorial respond: change reviewer.    Rejection Rate   2017 - 22%  2018 - 21%  2019 - 35%  2020 - 29%  2021 - 51%    Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process.  PREVIOUS TITLES:Real Estate Management and Valuation (ISSN 2300-5289) is a successor of Studia i Materiały Towarzystwa Naukowego Nieruchomości (1733-2478).The back issues of the journal under former title can be found here: tnn.org.pl/pl/publikacje-tnn#Mono 