Ocena kondycji rynku nieruchomości mieszkaniowych na podstawie badania danych z raportów finansowych firm deweloperskich
Assessment of the condition of the Polish real estate market based on the data analysis from the financial statements of developers

Summary/Abstract: The real estate market is dependent on fundamental factors and internal factors specific to the developer industry. This article presents the situation on the Polish real estate market during the global financial crisis. The paper contains consideration about the usage of financial ratio analysis in the audit of developers. Selected financial ratios will also be subjected to assessment. 17 major developers, which are listed on the Warsaw Stock Exchange (WSE), were selected for the study: GTC, Echo, Polnord, LCC, Gant, Dom Development, Ronson, J.W. Construction, ROBYG, TUP, Triton, Alterco, Celtic, ED Invest, Inpro, JHMDEV and Wikana. The analysis encompassed financial data from balance sheets and from profit and loss account in the period from January 1, 2005 to December 31, 2011.

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