The Ministry of Development and Technology has prepared a draft law providing for the creation of the Housing Trading Data Portal (DOM Portal). This will be a special website containing information on transaction prices on the housing market, which, according to the ministry, will ensure greater price transparency and protection against speculative activities, as well as facilitate decision-making.
The idea of creating a portal that would be a database of apartment prices appeared last year. It was then Council of Ministers adopted regulations enabling the creation of the Housing Price Portal.
“People interested in buying a flat or a house will be able to check, based on the transaction and property parameters they have selected (e.g. type of property, usable area, number of rooms, floor), how the real average transaction prices of such properties were shaped in a given period, e.g. in a given voivodeship, poviat, town or even district,” the Ministry of Development informed in July last year.
As emphasized, the main benefits of the new site include access to reliable informationgreater price transparency, easier purchasing decisions, protection against speculative activities and easier investment decisions in the region. The portal was to be run by the Insurance Guarantee Fund (UFG).
The idea was not implemented, but after a year it returned under a slightly different name, but with similar assumptions. The Ministry of Development will be responsible for preparing the new service.
The government is preparing a portal with housing prices
According to the project, the Housing Trading Data Portal (DOM Portal) is to present transaction price statistics on the housing market, and the data will be sortable according to all types of data and information collected in the portal, e.g. number of rooms, usable areas, primary market or secondary, single-family home or residential premises, location on a given floor or location.
As the Ministry of Development and Technology points out in its justification, the function of the DOM Portal is to publish appropriately aggregated statistical information on transaction prices of residential real estate, which facilitates making purchasing decisions, but does not allow for determining detailed data on specific transactions.
Information obtained through the portal is to enable public authorities to conduct ongoing analysis of the housing market, including the impact of housing support instruments on the parameters of this market, also on a local scale. “The operation of the Portal is ultimately to provide information necessary for the proper conduct of the state's housing policy and parameterization of housing support instruments,” writes the Ministry of Agriculture and Rural Development in the justification for the project.
In order to eliminate the risk of determining the data of specific buyers and specific transactions, it was proposed that the results based on the parameters selected by the DOM Portal user will be presented to them provided that the number of residential premises or single-family houses and buyers based on these parameters is not less than six. Individual transaction data, including personal data, will not be made public.
Various data sources in the DOM portal
According to the project, the DOM portal is to have three data sources. The first is data from the primary market regarding contracts for apartments and single-family houses covered by the obligation to maintain a housing escrow account, obtained from professional entities obliged to report data to the Register of the Developer Guarantee Fund.
The second source is data from the primary market regarding contracts for the sale of residential real estate not subject to the obligation to maintain a housing escrow account, obtained from professional entities not subject to the obligation to report data to the Register.
The third source will be data from the primary and secondary markets provided by the Head of the National Revenue Administration based on information resulting from notarial deeds reported by notaries.
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