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THE MANAGEMENT UNDERSTANDING OF THE INTEREST RATES – THE IMPACT OF THE INTEREST RATE ON THE LOCAL REAL ESTATE MARKET ON THE EXAMPLE OF THE CITY OF SOSNOWIEC

The main purpose of this paper was to present the relationship between the impact of interest rates on one of the local real estate markets. During the research, it was decided to verify the research hypothesis, according to which the change in interest rates was of great importance for the local real estate market in Sosnowiec, in the form of growing demand, prices and revival of the local investment policy. A secondary goal of the article was to introduce readers to the subject of interest rates and to present examples of the involvement of city authorities in the local real estate market. The period of work was 2015-2021 and concerns the real estate market of the city of Sosnowiec. The main limitation in achieving the goals were the sudden changes taking place in the economy and the real estate market caused by rising interest rates, therefore examining this market in the coming years and in conditions of increased interest rates should be the direction of further research. The following research methods were used to achieve the objectives of the work - case study, analysis of data provided by the Central Statistical Office – Local Data Bank, GZM Metropolis and industry reports of institutions recognized in professional practice on the real estate market, i.e. AMRON-SARFiN or Expander, as well as a literature review about the interest rates and the local press. In the course of the work the objectives of the study were achieved and the research hypothesis was confirmed – the change in interest rates had a strong and multifaceted impact on the real estate market in Sosnowiec, and their reduction resulted in both an increase in demand, a significant increase in prices and an increase in supply on the real estate market - both residential and industrial.

