Prospects for development of “smart cities†in Bulgaria

Abstract

This study studies the attitudes of young people in Sofia regarding potential purchase of real estate in highly urbanised city areas, as well as their knowledge and preferences concerning the so called “smart citiesâ€. The degree to which young people would be inclined to acquire properties in these particular areas could determine the state of the property market in the long term. Information about young people’s preferences would help synchronise the opportunities provided by technologies with the users’ needs and their capabilities to adapt and benefit from technologies to their full capacity. An important aspect is the increasing means that need to be invested in a purchase of a home in a “smart cityâ€. It is useful to establish what part of the population could afford such an investment. Answering these questions would be useful to property developers and local governments equally, so they can update their priorities and meet the current needs of the population.