Dissertation Poster

The Emerging Property Market in Bulgaria after the end of the communist domination

Introduction Economic situation and the property market in Bulgaria has changed very much especially after joining the EU Bulgaria was faced with overbuilding issues and problems with the building legislation and controls after accession in the EU. Despite the fact that the state can adopt policies to influence the overbuilding and problems with the environment there are still problems with the planning and building control. Therefore there will be an attempt to take an insightful view into the situation in Bulgaria taking into consideration current EU legislation. Further will be discussing if EU policies could be the mediating force to mitigate the problems with the building regulation in Bulgaria. Hypothesis “The entry of Bulgaria into EU provided support for sustainable property development.” Objectives •To examine the building policies in Bulgaria and how they changed after the EU accession. •The second objective is to collect detailed evidence and provide an objective and balanced assessment of the extent to which Bulgaria bring its legislation into line with European requirements, and also its implementation in practice. •The third objective is to identify the main affected areas under special protection in the country during the period 2000-2007 and discuss ways this to be avoided. The three objectives outlined above are the parameters by which this study will be bound by.

Reasons for the research The dissertation will be focused on the Bulgarian property market and its Post-Socialist development from 2000-2007. The hypothesis more specifically sets out that the changes that took place after the entry in EU have provided strong legislation for sustainable property market. Methodology The overall purpose of this paper is to describe the current position of the Bulgarian property market. To collect the evidence of current problems with overbuild areas and also protected areas protected areas affected by illegal developments to be the case or not. Overview a selection of policies that would aim to stop or prevent building in protected areas of the country if that is the case. To enable this study to either support or reject the hypothesis, both primary and secondary data will be collected. Discussion will be made on the selection of appropriate case studies and the detailed methodology to be adopted. Local professionals will then be interviewed. The research will also involve related literature. Proposed Sources of Data and Methods of Analysis The research strategy for this dissertation will involve gathering of qualitative and quantitative data and their analysis in order to investigate the hypothesis. Data collection methods will involve the acquisition of primary and secondary data. However due to the nature of the topic, the research will be based mainly on secondary data. Primary research will include interviews with expert native professionals in related fields of the property market and the economy in Bulgaria. Literature The Bulgaria’s property market relatively young age can be seen as a reason for the absence of wide range of related literature. The general theoretical context will be from reports, journals, publications, literature on the general characteristics of the Emerging Eastern European markets.

Pinder, D. (ed.) (1999) The New Europe economy, society and environment. Chichester: John Wiley & Sons. Dyker , D. (ed.) (1992) The National Economies of Europe. London: Expected Conclusions Longman. market. sustainable property watch/dont_bank_on_bansko_/post-181.html on Bansko (2009) Availableand at: http://www.propertysecrets.net/blogs/finance_ Don't Bankdevelopments (Accessed: 15 November 2009). The Dissertation will investigate whether the reforms in Bulgaria in light of EU membership, as well as the growth of the economy, helped or hindered sustainable property The EC Economy Archives (2008) Available at: http://ec.europa.eu/news/economy/archives_en.htm?Page=2 (Accessed: 15 November 2009). RICS Global Commercial Property at: Survey; RICS Economics Q3 (2009) Available road” to achieve sustainable market is as this can be “best the what not be Also it will indentify the complicated issues with the national protected sites and the specific changes in the economy that affected property market. The focus will http://www.joinricsineurope.eu/uploads/files/R ICSGlobalCommercialPropertySurveyQ32009_2.pdf (Accessed: 15 November 2009). expected to differ between countries. The discussion will be about what could be the most important policies from a Bulgarian perspective. Using the experience of the property markets in Spain, Portugal could be of interest from Bulgarian prospective. The dissertation will provide some characteristics of the present Bulgarian property market on the basis of previous similar experiences of Spain. The conclusion will be on whether there are possibilities for the Bulgarian property market to have more transparency, efficiency and to be competitive with other successful property markets in Europe in the near future. Andrusz, G., Harloe, M., Szelenyi, I. (1996) Cities after Socialism: Urban and Regional Change and Conflict in Post-Socialist Societies, Blackwell, Oxford. Europa-The European Union On-Line http://europa.eu (Accessed: 6 November 2009). CB Richard Ellis Bulgaria http://cbre.bg (Accessed: 6 November 2009). Investment Bulgaria http://www.investmentbulgaria.com (Accessed: 6 November 2009). Bulgaria Real Estate-Investment Property-Economic statistics for Bulgaria http://factbook.net/ (Accessed: 6 November 2009). CB Richard Ellis Property Report (2009) [Online] Available at: http://www.cbre.ro/research/ (Accessed: 12 November 2009). CB Richard Ellis Market Report (2009) [Online] Available at: http://www.cbre.ro/research/ (Accessed: 12 November 2009). Price WaterHouseCoopers, PwC Bulgaria http://www.pwc.com/ro/eng/ins-sol/publ/allpublications.html (Accessed: 12 November 2009).

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