The novelties in the International Valuation Standards (IVS) and their relationship with the Bulgarian Valuation Standards (BVS) and appraisal practice

The purpose of the article is to examine the novelties in the latest edition of the IVS (issued by IVSC and published in the UK by Page Bros, Norwich) and to make a connection with the Bulgarian Valuation Standards (BVS), their update, as well as the overall improvement of the appraisal practice in our country. The IVS are the basis for professional valuation practice on a global scale. They are also a foundation for European Valuation Standards (EVS), The European Business Valuation Standards (EBVS), several other current valuation standards around the world and the BVS and the Bulgarian valuation practice. The new highlights of the IVS are mainly related to changes in the market environment, the development and needs of the valuation profession, and the challenges faced by professional valuers of assets, liabilities and businesses. The scope of the research corresponds to the used bibliography sources, including, in addition to the IVS, but also other leading valuation standards worldwide and mainly in Europe, Asia and North America, the professional organization of valuers in the country, namely the Chamber of Independent Appraisers in Bulgaria (CIAB), domestic regulations, the Independent Valuers Act (IVA), BVS, the development of appraisal activity in our country over the last 30 years, as well as the activities of major international appraiser organizations, including the latest editions of the best authors in the world in the field of asset appraisal and businesses appraisal. The research is mainly limited to the latest editions of the IVS and BVS, as well as the valuation activity in our country since 1992. The design and layout of the article include the main points regarding the emergence of the appraisal profession in our country, the presentation in chronological order of the main stages of development, including the timetable-type figure, tables, as well as the presentation of the novelties in the IVS effective from 31 January 2022. The methodology used includes a historical approach, a systematic approach, a method of analysis and synthesis, and a method of induction and deduction. Empirical research methods applied are survey, observation, comparison and measurement, and statistical and descriptive methods of analysis. The findings, practical implementations (consequences) and originality in the research are determined by the type of the researched matter, its poor knowledge in our country, and the good international practices that can be imposed in the assessment guild in Bulgaria, which in turn are largely related to some gaps in our regulations, the evaluation standards and the activity of the CIAB. Logically, the main conclusion is formed at the end of the article, which mainly covers the possible change in the BVS based on the International evaluation standards, which would have a positive impact on the evaluation practice in Bulgaria in general

State and Determinants of Real Estate Market Development in Central and Eastern European Countries on the Example of Poland and Bulgaria

In this paper, the specificity of release and transformation processes of real estate markets in two postsocialist bloc countries, i.e. Bulgaria and Poland, was diagnosed. Comparative analysis of the conditions and directions of change was used as a tool to clarify the current situation, current status and characteristics of these markets. Comparison of Poland and Bulgaria also indicates the prospects for the development of real estate markets. The article is an attempt at assessing the condition and evolutionary progress of the residential segment. The authors also selected obstacles and factors promoting the development of real estate markets in the analyzed countries. This will either enable the critical assessment of changes observed in the past, or prove helpful in the context forecasting market phenomena

The Activities of Local Governments in the Revitalization of Public Space in Bulgaria and Poland

The research discussed in the article focuses on public space in urban areas and revitalization activities carried out by local governments. The goals of the paper are to identify the conditions and opportunities for the development of public space by local governments of Bulgaria and Poland, to find regularities (similarities and differences) and to assess the actions taken. The specific objective is to illustrate the process of planning and managing selected large revitalization investments in urban public spaces in Bulgaria and Poland. The research methods used comprise the analysis of literature, including official documents and acts of law and case studies

Revitalization as an action in space - case study of large cities in Poland and Bulgaria

The main goal of revitalization is to improve the spatial condition of the city, which improves its image and increases the value of space. Any revitalization process requires the acquisition of geolocation data. This data can help visualize the spatial changes that were the goal of revitalization efforts. Acquiring such data is not always easy and requires the use of multiple sources of GIS information. The purpose of this paper is a spatial presentation of the analyzed areas with their identification before and after the revitalization process using spatial data made available in an open resource on Google Maps map application. Data is presented for two cities: Bydgoszcz (Poland), Varna (Bulgaria), characterized by a similar population. The paper uses current and archival orthophotos of the revitalized areas, Street View panoramic views from street level and own photographic documentation. The results of the analysis show that regardless of the stage of revitalization, the use of spatial data is essential in the designation of a degraded area, as well as later in its design, monitoring and management

An Assessment of the Functioning of Shopping Centres in Central-Eastern Europe on the Example of “Posnania Mall” in Poznań (Poland) and “Grand Mall” in Varna (Bulgaria)

The article explores the issue of the function of shopping centres, in particular the analysis of the impact of their presence on society and the local development of cities and regions. Regarding the empirical aspect, the examples of Poznań (Poland) and Varna (Bulgaria) will be presented. As a result of similar socio economic conditions and joining the European Union at almost the same moment, all comparative studies reflecting preferences and market reactions seem both viable and interesting. In addition, the two cities chosen for the studies occupy a similar place in the hierarchy of the settlement network in their countries. They are large, well developed centres that attract the attention of investors from various segments of the real estate market. The research is part of the modelling of preferences of shopping centre customers areas, which in particular supports the investment decisions of developers operating in the analysed real estate market, and at the same time permits a diagnosis of social satisfaction. A derivative of the research is also the reconstruction of the effects of the functioning of largescale shopping malls in two Central Eastern European countries

The First Genomewide Interaction and Locus-Heterogeneity Linkage Scan in Bipolar Affective Disorder: Strong Evidence of Epistatic Effects between Loci on Chromosomes 2q and 6q

We present the first genomewide interaction and locus-heterogeneity linkage scan in bipolar affective disorder (BPAD), using a large linkage data set (52 families of European descent; 448 participants and 259 affected individuals). Our results provide the strongest interaction evidence between BPAD genes on chromosomes 2q22-q24 and 6q23-q24, which was observed symmetrically in both directions (nonparametric LOD [NPL] scores of 7.55 on 2q and 7.63 on 6q; P<.0001 and P=.0001, respectively, after a genomewide permutation procedure). The second-best BPAD interaction evidence was observed between chromosomes 2q22-q24 and 15q26. Here, we also observed a symmetrical interaction (NPL scores of 6.26 on 2q and 4.59 on 15q; P=.0057 and .0022, respectively). We covered the implicated regions by genotyping additional marker sets and performed a detailed interaction linkage analysis, which narrowed the susceptibility intervals. Although the heterogeneity analysis produced less impressive results (highest NPL score of 3.32) and a less consistent picture, we achieved evidence of locus heterogeneity at chromosomes 2q, 6p, 11p, 13q, and 22q, which was supported by adjacent markers within each region and by previously reported BPAD linkage findings. Our results provide systematic insights in the framework of BPAD epistasis and locus heterogeneity, which should facilitate gene identification by the use of more-comprehensive cloning strategies

Genomewide Scan and Fine-Mapping Linkage Studies in Four European Samples with Bipolar Affective Disorder Suggest a New Susceptibility Locus on Chromosome 1p35-p36 and Provides Further Evidence of Loci on Chromosome 4q31 and 6q24

We present the findings of a large linkage study of bipolar affective disorder (BPAD) that involved genomewide analysis of 52 families (448 genotyped individuals) of Spanish, Romany, and Bulgarian descent and further fine mapping of the 1p34-p36, 4q28-q31, and 6q15-q24 regions. An additional sample of 56 German families (280 individuals) was included for this fine-mapping step. The highest nonparametric linkage scores obtained in the fine mapping were 5.49 for 4q31 and 4.87 for 6q24 in the Romany families and 3.97 for 1p35-p36 in the Spanish sample. MOD-score (LOD scores maximized over genetic model parameters) analysis provided significant evidence of linkage to 4q31 and at least borderline significance for the 1p and 6q regions. On the basis of these results and previous positive research findings, 4q31 and 6q24 should now be considered confirmed BPAD susceptibility loci, and 1p35-p36 is proposed as a new putative locus that requires confirmation in replication studies