POLAND AND UKRAINE: PERSPECTIVE OF INSTITUTIONAL ECONOMICS

Arkadiusz Jan Derkacz; Iryna Bodnaruk

doi:10.23856/6318

Arkadiusz Jan Derkacz https://orcid.org/0000-0003-1363-9551
Iryna Bodnaruk https://orcid.org/0000-0003-1608-9786

Keywords: property, the residential real estate, the housing market, the right holders, type of ownership

Abstract

The residential real estate market is one of the most important elements of any economy, based on housing objects that can be owned by different households on certain rights. Identifying all forms and rights of ownership in the housing market of Poland and Ukraine in accordance with the theses of institutional economics and comparing them was the main goal of the study. In our analysis, we want to confirm the hypothesis that the structure of property rights that exists in the residential real estate market and is described in various literature provides only a general description of the real situation. Therefore, the result of our research was the determination that the property rights operating on the housing market in Poland and Ukraine are much more diverse and complex than the five main forms described in the Ostrom model, which is the main basis for defining property rights. This made it possible to identify the existing forms of property rights, in particular for apartments that exist in the analyzed markets, and to establish the distribution of these rights among possible co-owners of these objects.

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