An Econometric Analysis of Housing Demand in Turkey

In this study, the demand for housing in Turkey was examined by panel data analysis and provincial level data set between 2004 and 2011. The income levels, housing prices, and population were selected as explanatory variables for the study. Two different models were used and the income elasticity wa...

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Bibliographic Details
Published in:Advances in management and applied economics 2016-05, Vol.6 (3), p.47
Main Authors: Solak, Ali Osman, Kabadayi, Burhan
Format: Article
Language:English
Subjects:
Building societies
Consumer Price Index
Data analysis
Developing countries
Econometrics
Economic conditions
Economic growth
Economic models
Employment
Error correction & detection
GDP
Gross Domestic Product
Households
Housing
Housing needs
Housing prices
Industrial development
Inflation rates
Interest rates
LDCs
Marital status
Per capita
Population
Price elasticity
Private enterprise
Recessions
Studies
Urbanization
Variables
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Summary:In this study, the demand for housing in Turkey was examined by panel data analysis and provincial level data set between 2004 and 2011. The income levels, housing prices, and population were selected as explanatory variables for the study. Two different models were used and the income elasticity was found to be 1.42 and 1.91. The price elasticity was estimated at -0.85 and -0.95 in the models and population indicators positively affected the demand for housing. The findings of the study show that the most important factor affecting the housing demand was the income level of Turkey.
ISSN:1792-7544
1792-7552