Aspects of Housing Affordability and the Degree of Utilization of Residential Properties in Bulgaria

Abstract

The present article analyzes housing affordability in Bulgaria, examining it through a dual perspective – price and structural dimensions. A new composite indicator is proposed – the Effective Housing Affordability Index (EHAI), which links market affordability with the efficient utilization of the existing housing stock. The analysis identifies certain regional disparities and demonstrates that high housing prices and the increasing share of unoccupied dwellings lead to structural inefficiency. The findings emphasize the need to redirect housing policy towards improving the efficiency of housing stock utilization rather than merely stimulating new construction. The proposed index can support both academic research and the formulation of fairer and more effective housing policies in Bulgaria