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The global financial crisis and the housing market in Bulgaria

Author

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  • Hristo Mavrov

    (Varna University of Economics)

Abstract

The article presents a study of the dynamics of housing prices in Bulgaria in the context of the presence or absence of a price bubble during the period 1998 - 2010. The proposition is t hat during that period there was observed price deformation of the property market. There was formed a price bubble, which burst in 2009 as a result of the global financial and economic crisis of 2007. In order to prove that thesis there have been used the following indicators: the dynamics of real housing prices, the relationship between the price of a home and the income and the relationship between the price of a home and the rent for it.

Suggested Citation

  • Hristo Mavrov, 2011. "The global financial crisis and the housing market in Bulgaria," Business & Management Compass, University of Economics Varna, issue 3, pages 18-29.
    • Handle: RePEc:vrn:journl:y:2011:i:3:p:18-29
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    File URL: http://journal.ue-varna.bg/uploads/20140726090254_208620892053d36ebea2d4c.pdf
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    Cited by:

    1. Svetlana Todorova & Dimitria Karadimova, 2020. "How Mortgage Interest Rates and Salaries Affect the Mortgage Debt," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 9(1), pages 63-70, April.

    More about this item

    JEL classification:

    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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