PROBLEMS OF AFFORDABILITY FOR ACQUISITION OF RESIDENTIAL PROPERTIES IN THE CITY OF VARNA

Yana Stoencheva

INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE "CONSTRUCTION ENTREPRENEURSHIP AND REAL PROPERTY", 2021, issue 1, 147-154

Abstract: The purpose of this report is to establish the degree of affordability to residential properties in the city of Varna. Indicators, price-to-income ratios and residual income were used to study the degree of affordability. The results of the analysis show that there is an extremely high unavailability of the acquisition of residential properties in the city of Varna. In some neighborhoods, the number of acquisition years calculated on the basis of price-to-income ratios varies widely from 12 to 41 years on average per person and between 5.8 and 19 years per household. Based on residual income in some of the prestigious neighborhoods it reaches over 100 years if the home is acquired by one person. The report also identifies tools that can be used to increase the availability of affordable housing.

Keywords: Housing affordability; Housing availability; Real estate market (search for similar items in EconPapers)
JEL-codes: R20 R30 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:emccon:y:2021:i:1:p:147-154

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