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Factors of the Regional Dynamics of the Newly Built Residential Area in Bulgaria for the 2005 – 2021 Period

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  • Vesela Dimitrova

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

Residential construction, as part of the construction sector, has developed quite dynamically over the last twenty years. This paper examines the dynamics of new housing construction over a seventeen-year period. The panel dataset includes household-related factors of demographic, social, and economic character regarding the demand for newly built housing estate. Different specifications of econometric panel models for the dynamics of new housing construction at district level in Bulgaria are built and estimated. The results show that the dependence of housing area of newly built dwellings by regions in Bulgaria is directly proportional to natural increase, migration, average annual wage, and number of pupils, and inversely proportional to unemployment. Interestingly, the variable “net enrollment rate of children in kindergartens†did not show the expected effect on the growth of newly built housing.

Suggested Citation

  • Vesela Dimitrova, 2023. "Factors of the Regional Dynamics of the Newly Built Residential Area in Bulgaria for the 2005 – 2021 Period," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 48-66, September.
    • Handle: RePEc:nwe:iisabg:y:2023:i:3:p:48-66
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    More about this item

    Keywords

    panel data regression; new dwellings; residential area; Bulgarian regions;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction

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