The Impact of COVID-19 on the Work of Property Valuers: A Glance at the Polish State of Play
Abstract
:1. Introduction
2. Property Valuation Services in Poland during the COVID-19 Pandemic
2.1. Real Estate Market in a New Pandemic Reality
2.2. Pandemic Challenges for Polish Property Valuers
3. Data and Methods
- Subjective perception of the pandemic situation and related issues (statements: S1; S9; and S10);
- Difficulties in performing valuation activities (statements: S2; S3; and S4);
- Business outcomes (statements: S5 and S6);
- Technological adaptation (statements: S7 and S8).
- ⮚
- The epidemic threat is an additional source of stress for me in my professional work (S1).
- ⮚
- It is difficult to access valid market data (S2).
- ⮚
- Access to institutions supporting the valuation process (county offices, municipal offices, etc.) is limited (S3).
- ⮚
- Local inspection of the property is more complicated (S4).
- ⮚
- The number of new orders has decreased (S5).
- ⮚
- My income has decreased (S6).
- ⮚
- I make wider use of existing high-tech tools (S7).
- ⮚
- I am learning the new tools of modern technology (S8).
- ⮚
- After the “lockdown” period (i.e., from June 2020), the situation in the valuation services market returned to the pre-pandemic state (S9).
- ⮚
- The existing recommendations of the Ministry for real estate valuers during a coronavirus pandemic are sufficient (S10).
4. Research Findings and Discussion
5. Conclusions
Author Contributions
Funding
Data Availability Statement
Conflicts of Interest
References
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Feature | Number | Percentage of Respondents (%) | Cumulative Percentage (%) |
---|---|---|---|
Gender | 107 respondents | ||
Men | 63 | 58.88% | 58.88% |
Women | 44 | 41.12% | 100.00% |
Seniority | 2–35 years | ||
Up to 5 years | 15 | 14.02% | 14.02% |
6–10 years | 24 | 22.42% | 36.44% |
11–20 years | 34 | 31.78% | 68.22% |
Over 20 years | 34 | 31.78% | 100.00% |
Number of valuations per month | 1–30 valuation reports per month | ||
Up to 5 valuations | 58 | 54.20% | 54.20% |
6–10 valuations | 26 | 24.30% | 78.50% |
Above 10 valuations | 23 | 21.50% | 100% |
Ref. | Statements Evaluated | Obs. No | Freq. of Responses (%) | Sum | Mean | Median | Mode | Freq. of Mode | Std. Dev | ||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 * | 2 * | 3 * | 4 * | 5 * | |||||||||
S1 | The epidemic threat is an additional source of stress for me in my professional work | 107 | 14.02 | 28.04 | 14.95 | 30.84 | 12.15 | 320 | 2.99 | 3 | 4 | 33 | 1.28 |
S2 | It is difficult to access valid market data | 107 | 1.87 | 19.63 | 4.67 | 30.84 | 42.99 | 421 | 3.93 | 4 | 5 | 46 | 1.20 |
S3 | Access to institutions supporting the valuation process (county offices, municipal offices, etc.) is limited | 107 | 0.93 | 10.28 | 0.93 | 34.58 | 53.27 | 459 | 4.29 | 5 | 5 | 57 | 0.98 |
S4 | Local inspection of the property is more complicated | 107 | 5.61 | 37.38 | 16.82 | 26.17 | 14.02 | 327 | 3.06 | 3 | 2 | 40 | 1.20 |
S5 | The number of new orders has decreased | 107 | 6.54 | 21.50 | 19.63 | 29.91 | 22.43 | 364 | 3.40 | 4 | 4 | 32 | 1.24 |
S6 | My income has decreased | 107 | 9.35 | 18.69 | 14.95 | 31.78 | 25.23 | 369 | 3.45 | 4 | 4 | 34 | 1.30 |
S7 | I make wider use of existing high-tech tools | 107 | 4.67 | 5.61 | 25.23 | 41.12 | 23.36 | 399 | 3.73 | 4 | 4 | 44 | 1.03 |
S8 | I am learning the new tools of modern technology | 107 | 3.74 | 13.08 | 26.17 | 39.25 | 17.76 | 379 | 3.54 | 4 | 4 | 42 | 1.05 |
S9 | After the “lockdown” period (i.e., from June 2020), the situation in the valuation services market returned to the pre-pandemic state | 107 | 14.95 | 33.64 | 31.78 | 14.95 | 4.67 | 279 | 2.61 | 3 | 2 | 36 | 1.06 |
S10 | The existing recommendations of the Ministry for real estate valuers during a coronavirus pandemic are sufficient | 107 | 18.69 | 24.30 | 36.45 | 16.82 | 3.74 | 281 | 2.63 | 3 | 3 | 39 | 1.09 |
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Uhruska, M.; Małkowska, A. The Impact of COVID-19 on the Work of Property Valuers: A Glance at the Polish State of Play. J. Risk Financial Manag. 2021, 14, 378. https://doi.org/10.3390/jrfm14080378
Uhruska M, Małkowska A. The Impact of COVID-19 on the Work of Property Valuers: A Glance at the Polish State of Play. Journal of Risk and Financial Management. 2021; 14(8):378. https://doi.org/10.3390/jrfm14080378
Chicago/Turabian StyleUhruska, Małgorzata, and Agnieszka Małkowska. 2021. "The Impact of COVID-19 on the Work of Property Valuers: A Glance at the Polish State of Play" Journal of Risk and Financial Management 14, no. 8: 378. https://doi.org/10.3390/jrfm14080378