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AUTHOR(S): Marin Marinov, Ivo Draganov
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TITLE Analysis of the Real Estate Market in Shumen, Bulgaria, during the COVID-19 pandemic |
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ABSTRACT In this paper in-depth analysis of the price variation of the 1-, 2- and 3-room real estates in the city of Shumen, Bulgaria for the period 2019-2021 is presented. Apart from the price timeseries, histograms and their continuous approximating distributions are given along with clustering of the neighborhoods of the city by price class. K-Means algorithm is used with associated Silhouette scores which reveal the number of the classes in each of the studied years. Not only the effect of the emerging COVID-19 pandemic could be observed from the obtained results but they could be useful guide for brokerage house managers into establishing appropriate marketing strategies while offering various price tag residences. |
KEYWORDS residence, price variation, Shumen, Bulgaria, pandemic, COVID-19 |
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Cite this paper Marin Marinov, Ivo Draganov. (2022) Analysis of the Real Estate Market in Shumen, Bulgaria, during the COVID-19 pandemic. International Journal of Economics and Management Systems, 7, 484-491 |
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