Marin Marinov, Ivo Draganov
Analysis of the Real Estate Market in Shumen, Bulgaria, during the COVID-19 pandemic
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.
residence, price variation, Shumen, Bulgaria, pandemic, COVID-19
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