Duration of the Period for the Realization of a Residential Property Transaction

Abstract

The purchase and sale of residential property is a complex process and is realized on the market, on which their price is formed. The duration of this process determines the spatial-temporal framework for the implementation of a transaction. The variety of factors affecting the duration of the period for the realization of the transaction with a residential property requires their study. These factors are of a market and non-market nature. In the present study, some of the factors of a market nature are considered - the dynamics of prices, the amount of transactions, crediting conditions and the amount of the interest rate, and the presence or absence of a balance between demand and supply. The object of the research is the length of the period for the realization of the transaction with a residential property in the country, with the focus being on the residential property market in Sofia. The subject of research is the dependence of the duration of the transaction period on the listed factors. The methodology applied in the study is a complex of mutually complementary basic empirical and theoretical methods for scientific research.