Seasonality in the Prices of Residential Properties in the City of Varna

Abstract

The aim of the present article is to investigate the presence of seasonality in the prices of residential properties offered for sale and rent in the neighbourhoods of the city of Varna. To carry out the analysis, the monthly offer prices for a three-year period from January 2020 to December 2022 for the sale and rent flats from the website www.imot.bg were used. The object of the research is the most widely represented dwellings in the municipality of Varna, namely the two-room dwellings. The simple chronological average method was used to study seasonality. The presence of moderate to weak seasonality in the change in prices for both sales and rentals has been demonstrated. The deviation of the average monthly prices for two-bedroom flats offered for sale varies from (-4.33%) in the month of February to (+5.75%) in the month of November. Deviations from average monthly rental prices ranged from (-2.00%) in June to (+5.57%) in September. The results could be useful to potential investors.