ECONOMIC AND MARKET ASPECTS OF COOPERATIVE MODEL OF HOUSING STOCK MANAGEMENT

Purpose: Quite dynamic housing cooperative movement in Poland is a specific phenomenon in the area of housing resources management in Central-Eastern Europe. The main objective of the article is to assess the functioning of Polish housing cooperatives in terms of maintaining the proper condition and market potential of large panel housing estates. Design/methodology/approach: The desk research method, comparative analysis, and own calculations based on statistical data published by the Statistics Poland and the NBP were used. The article presents non-obvious arguments indicating the successes of Polish housing cooperatives. Findings: Polish housing cooperatives, despite significant limitations in their functioning caused by legislative decisions after 1990, have successfully evolved towards effective resource management. The structure of operating costs as a property manager is similar to housing communities, and at the same time clearly more advantageous than in the case of resources managed by the public sector or social housing associations. Research limitations/implications: The commonness of housing cooperatives in Poland makes it difficult to compare it with the rest of Central-Eastern Europe, because this formula for managing housing resources in other countries is generally rarely used. Therefore, there is a lack of non-Polish publications in this area. Practical implications: The management methods in the cooperative model provide similar cost-effectiveness to specialist property managers. Housing cooperatives implement broad repair programs, contributing to maintaining the good condition of large panel housing estates. Social implications: Members of the cooperative co-decide on their activities in a democratic way, which allows for maintaining interpersonal ties and building grassroots civic engagement. The housing cooperative strongly rooted in Poland could play the role of an institutional investor, competitive with developers on the residential real estate market. This might change housing policy, seeking new solutions that are helpful for people economically excluded from the real estate market. Originality/value: The article draws attention to the substantial potential, professionalism and know-how of housing cooperatives in Poland. This is an exceptional situation compared to European solutions. The paper is addressed to scientists and public life entities, authorities, political decision-makers showing the idea of engaging housing cooperatives in the development of affordable housing.