Arbitrage as a Main Driver of House Flipping Profitability in Poland: An Exploratory Analysis
References
- Anacker, K. B. (2009). Big Flipping Schemes in Small Cities? The Case Anacker, K. B. (2009). Big flipping schemes in small cities? The case of Mansfield, Ohio. Housing and Society, 36(1), 5–28. https://doi.org/10.1080/08882746.2009.11430568
- Anacker, K. B., & Schintler, L. A. (2015). Flip that house: Visualising and analysing potential real estate property flipping transactions in a cold local housing market in the United States. International Journal of Housing Policy, 15(3), 285–303. https://doi.org/10.1080/14616718.2015.1051401
- Bayer, P., Geissler, C., Mangum, K., & Roberts, J. W. (2011). Speculators and middlemen: The strategy and performance of investors in the housing market (Working Paper No. 16784). National Bureau of Economic Research. https://www.nber.org/papers/w16784
- Biała, I. i Gołąbeska, E. (2024). Flipping jako forma inwestycji na polskim rynku mieszkaniowym [Flipping as an investment form in the Polish housing market]. Nieruchomości C.H.Beck, 1/2024.
- Case, K. E., & Shiller, R. J. (2003) Is there a bubble in the housing market? Brookings Papers on Economic Activity, 2003(2), 299–362. https://doi.org/10.1353/eca.2004.0004
- Czeczerda, W. (1978). Młode małżeństwo i mieszkanie: potrzeby i ich zaspokojenie [Young married couples and housing: needs and their satisfaction]. Książka i Wiedza.
- Czerniak, A., Milewska-Wilk, H. i Bojęć, T. (2021). Zjawisko flippingu na polskim rynku mieszkaniowym [The flipping phenomenon in the Polish housing market]. Studia BAS, 2(66), 9–34.
- Delclos, C. (2021). From market good to social right? Shifting approaches to housing in Europe. CIDOB Briefing, 30, 151–171.
- Depken, C. A., Hollans, H., & Swidler, S. (2009). An empirical analysis of residential property flipping. The Journal of Real Estate Finance and Economics, 39(3), 248–263. https://doi.org/10.1007/s11146-009-9181-3
- Garriga, C., & Gete, P. i Tsouderou, A. (2021). Investors and Housing Affordability. IE University Working Paper.
- Gołąbeska, E. (red.). (2024). Rynek nieruchomości mieszkaniowych w Polsce w ujęciu prawnym, ekonomicznym, ekologicznym i finansowym [The residential real estate market in Poland in legal, economic, ecological, and financial terms]. Białystok: Oficyna Wydawnicza Politechniki Białostockiej.
- Goodman, A. C., & Thibodeau, T. G. (2008). Where are the speculative bubbles in US housing markets? Journal of Housing Economics, 17(2), 117–137. https://doi.org/10.1016/j.jhe.2007.12.001
- Główny Urząd Statystyczny. Bank Danych Lokalnych [Statistics Poland. Local Data Bank]. https://bdl.stat.gov.pl/
- Guntermann, K. L., Horenstein, A. R., & Liu, C. H. i Nowak, A. D. (2011). Do investors flip over housing? The Center for Real Estate and Finance Working Paper Series, 2010-008, 1-47.
- Hookway, A. (2020). Flip or flop: The ultimate guide to property flipping. Touchstone Education Ltd.
- Kulczyk-Dynowska, A., Hełdak, M., Konakoğlu, S. S. K. i Przybyła, K. (2025). Housing Stocks of Polish Counties during Period of 2010-2022: Prism of Quantitative and Qualitative Changes after Taking Context of Flipping into Account. Geomatics and Environmental Engineering, 19(2).
- Lees, L., & Slater, T. i Wyly, E. K. (2008). Gentrification. Routledge. Leung, C. K. Y., & Tse, C.-Y. (2017). Flipping in the housing market. Journal of Economic Dynamics & Control, 76, 232–263. https://doi.org/10.1016/j.jedc.2017.01.003
- Li, L., Yavaş, A., & Zhu, B. (2023). Externalities of Residential Property Flipping. Real Estate Economics, 51(1), 233–271. https://doi.org/10.1111/1540-6229.12413
- Lipski, A. (2008). Rola mieszkania w obliczu nowoczesnych form życia rodzinnego [The role of housing in the face of modern forms of family life]. Ruch Prawniczy, Ekonomiczny i Socjologiczny, 70(3), 15–33.
- Madden, D. i Marcuse, P. (2016). In defense of housing: The politics of crisis. London New York: Verso Publishing.
- Rauf, M. A., & Weber, O. (2022). Housing sustainability: The effects of speculation and property taxes on house prices within and beyond the jurisdiction. Sustainability (Basel), 14(12), 7496. https://doi.org/10.3390/su14127496
- Sabel, C. E., Pedersen, C. B., Antonsen, S., Webb, R. T., & Horsdal, H. T. (2024). Changing neighborhood income deprivation over time, moving in childhood, and adult risk of depression. JAMA Psychiatry, 81, 919–927. Advance online publication. https://doi.org/10.1001/jamapsychiatry.2024.1382 PMID:39018054
- Stevens, R. X. A. (2022). The theory of speculation in the Marshallian tradition: Marshall, Pigou, Lavington, and Keynes on the microeconomics of speculation [PhD thesis]. The University of Western Australia.
- Stiglitz, J. E. (2000). The contributions of the economics of information to twentieth century economics. The Quarterly Journal of Economics, 115(4), 1441–1478. https://doi.org/10.1162/003355300555015
- Surówka, M. (2019). Analiza stanu i struktury zasobów mieszkaniowych oraz ich wpływ na sytuację mieszkaniową w Polsce [Analysis of the condition and structure of housing stocks and their impact on the housing situation in Poland]. Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 63(11), 155-164.
- Trinh, T. H. (2022). Theoretical foundations of real estate market behavior. Cogent Business & Management, 9(1), 1–18. https://doi.org/10.1080/23311975.2022.2132590
- Trinh, T. H. (2022). Theoretical foundations of real estate market behavior. Cogent Business & Management, 9(1), 2132590. https://doi.org/10.1080/23311975.2022.2132590
- Ustawa z dnia 20 maja 1971 r. Kodeks wykroczeń [Act of 20 May 1971 Code of Petty Offences] (Dz. U. z 2023 r. poz. 2119, z późn. zm.).
DOI: https://doi.org/10.2478/remav-2026-0033 | Journal eISSN: 2300-5289 (formerly 1733-2478)
Language: English
Submitted on: Apr 9, 2026
Accepted on: Aug 20, 2026
Published on: Aug 26, 2026
Published by: Real Estate Management and Valuation
In partnership with: Paradigm Publishing Services
Related subjects:
© 2026 Wojciech Chamier Cieminski, published by Real Estate Management and Valuation
This work is licensed under the Creative Commons Attribution 4.0 License.