Change in the property offer price depending on its location: A case study Available to Purchase

There are many factors that affect the real estate market. They can be classified into internal and external factors. The basic internal factor that affects the offer price is the location. The external location between cities and the internal one in the city is always compared. Since people started moving to cities for better living conditions and better work, real estate prices have changed significantly and there have been significant price differences between cities and their surrounding areas (villages). Another internal factor is the location of the property, which is determined by the population, the importance of the location in the village or city, the surrounding structures, the property placement in the village or city, driving distance to the centre or surrounding villages, and towns, environment, and other influences. Other important factors are the type of apartment, type of development, the technical condition of the apartment, construction and equipment of the apartment, ownership, layout of the apartment, apartment orientation and view, floor, age of the apartment, parking space and more. External factors include macroeconomic indicators, which include inflation, average gross wages, interest rates, and more. The aim of the research described in the article is to point out the percentage differences in the offer prices depending on the distance from the Brno city centre. The research included 3 years of data collection (2018-2020) that shows property offer prices. During this period, 1,295 samples were collected. The property offer prices in the given locations due to the percentage changes depending on the distance from the Brno city centre were determined by the arithmetic average. Within real estate, the research was focused only on apartments, where individual apartment size categories, technical condition and material type were considered. The research output was displayed in a clear price map of the selected area.