EVALUATION OF THE IMPACT OF THE WORLD ECONOMIC CRISIS ON THE REAL ESTATE MARKET IN THE MEMBER STATES OF THE EUROPEAN UNION (ON THE EXAMPLE OF THE REPUBLIC OF BULGARIA AND GREECE) Cover Image

ОЦЕНКА НА ВЪЗДЕЙСТВИЕТО НА СВЕТОВНАТА ИКОНОМИЧЕСКА КРИЗА ВЪРХУ ПАЗАРА НА НЕДВИЖИМИ ИМОТИ В СТРАНИТЕ-ЧЛЕНКИ НА ЕВРОПЕЙСКИЯ СЪЮЗ (ПО ПРИМЕРА НА РЕПУБЛИКА БЪЛГАРИЯ И ГЪРЦИЯ)
EVALUATION OF THE IMPACT OF THE WORLD ECONOMIC CRISIS ON THE REAL ESTATE MARKET IN THE MEMBER STATES OF THE EUROPEAN UNION (ON THE EXAMPLE OF THE REPUBLIC OF BULGARIA AND GREECE)

Author(s): Valentin Milinov, Petko Angelov, Sylvia Zarkova
Subject(s): Economy, Business Economy / Management
Published by: Стопанска академия »Д. А. Ценов«
Keywords: global crisis; index of nominal house prices; gross fixed investment in residential buildings; interest rates on loans

Summary/Abstract: The analysis of the real estate market has been directly related to the dynamic development of the overall price level in recent years. By focusing on the period 20082016, we draw attention to the influence of the two main factors - the accession of Bulgaria to the EU and the impact of the global financial crisis, which reflects most seriously on the sectors of construction, production and services. The focus of this paper is on the real estate market in Bulgaria in parallel with Greece, as a neighboring country that has suffered the harsh economic consequences of the crisis. The main research thesis on which the present study has been built is that the geopolitical and economic shocks on a global and national level are a key factor determining the potential of the real estate market. The main objective is to analyze the state of the real estate market in Bulgaria and Greece. The tasks assigned by the authors are: - consideration of the main features of real estate markets in Bulgaria and Greece; - outline the main trends of the real estate market in Bulgaria and other member states from Central and Eastern Europe; - Investigating the potential for investment in real estate in the member states of the European Union by applying the method of Z. Helving; - comparative analysis and assessment of the real estate market in Bulgaria and Greece and outlining the trends of its future development. As a result of the survey a grouping of the European Union countries on indicators for the mortgage market, the real estate market and the economic potential of the countries was carried out. The peculiarities of investments in real estates in the member states of the European Union are distinguished, focusing on the Republic of Bulgaria and Greece and the main factors of the supply and demand for real estate.

  • Issue Year: 26/2018
  • Issue No: 1
  • Page Range: 107-135
  • Page Count: 29
  • Language: Bulgarian