Characteristics Determining the Value and Competitive Advantages of Land Properties in Urban Areas

Abstract

The article analyzes the specific characteristics of land properties as a primary carrier of value in the real estate market. It reviews publications on the topic by leading Bulgarian and international scholars. The key attributes that shape value and competitive advantage of regulated land properties are systematized. The study examines land price dynamics in Sofia during the period 2019–2025, establishing a relationship between price growth and changes in major external factors such as the macroeconomic environment, investment activity, the COVID-19 pandemic, and subsequent market transformations. Key conclusions are formulated, and directions for future research are proposed.