The global financial crisis and the housing market in Bulgaria

Hristo Mavrov ()

Business & Management Compass, 2011, issue 3, 18-29

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.

JEL-codes: R31 (search for similar items in EconPapers)
Date: 2011
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