%0 Journal Article
%T Speculations as the main reason behind real estate price increase
%A Huebner, Jarosław
%J Przestrzeń Urbanistyka Architektura
%V 2017
%R 10.4467/00000000PUA.17.005.7123
%N Volume 1/2017
%P 73-91
%K City Centre, neglected district, price increase, real estate, potential of the area, area attractiveness
%@ 2544-0853
%D 2017
%U https://ejournals.eu/en/journal/przestrzen-urbanistyka-architektura/article/spekulacje-glownym-powodem-wzrostu-wartosci-nieruchomosci
%X 
	The most interesting for a real estate market researcher is influence of money on transformation of districts located outside of the city center. What is the reason of the transformation of these neglecteddistricts? Observations made in the NY area of Red Hook will help to understand the mechanisms behind the choice of location for living. During last 8 years, prices of apartments in Red Hook have risen several times. Development of city needs excess money that could be invested into the project that generate profit. This is the phenomenon of accumulating attractiveness of the place together with activation of the price „igniter”. Therefore, the theory that speculation is the main reason for the increase in property value seems reasonable and possible to prove.