Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?
In this study, housing demand in Turkey was examined with Bounds Testing Approaches for the period of 1964-2014. The total square meters of houses sold was taken as housing demand. The explanatory variables of the study are the real price of one square meter of housing, real income level, and urban...
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| Format: | Article |
| Language: | English |
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EconJournals
2016-05-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/32012/353805?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| _version_ | 1797923728718299136 |
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| author | Ali Osman Solak Burhan Kabadayı |
| author_facet | Ali Osman Solak Burhan Kabadayı |
| author_sort | Ali Osman Solak |
| collection | DOAJ |
| description | In this study, housing demand in Turkey was examined with Bounds Testing Approaches for the period of 1964-2014. The total square meters of houses sold was taken as housing demand. The explanatory variables of the study are the real price of one square meter of housing, real income level, and urban population. Firstly, stationary properties of the series were checked by unit root tests, then co-integration was investigated. Lastly, we ran the Autoregressive lag model process. We found that Turkey is more sensitive to income level and there is positive relationship between prices and housing demand. This might be accounted for by the fact that houses are kinds of investment goods in Turkey. |
| first_indexed | 2024-04-10T14:50:45Z |
| format | Article |
| id | doaj.art-07e245440d1d4ce58565453543fd36d0 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T14:50:45Z |
| publishDate | 2016-05-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-07e245440d1d4ce58565453543fd36d02023-02-15T16:07:35ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382016-05-0163113211351032Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?Ali Osman SolakBurhan KabadayıIn this study, housing demand in Turkey was examined with Bounds Testing Approaches for the period of 1964-2014. The total square meters of houses sold was taken as housing demand. The explanatory variables of the study are the real price of one square meter of housing, real income level, and urban population. Firstly, stationary properties of the series were checked by unit root tests, then co-integration was investigated. Lastly, we ran the Autoregressive lag model process. We found that Turkey is more sensitive to income level and there is positive relationship between prices and housing demand. This might be accounted for by the fact that houses are kinds of investment goods in Turkey.https://dergipark.org.tr/tr/pub/ijefi/issue/32012/353805?publisher=http-www-cag-edu-tr-ilhan-ozturkhousing demand real estate bubble bounds testing approach |
| spellingShingle | Ali Osman Solak Burhan Kabadayı Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble? International Journal of Economics and Financial Issues housing demand real estate bubble bounds testing approach |
| title | Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble? |
| title_full | Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble? |
| title_fullStr | Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble? |
| title_full_unstemmed | Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble? |
| title_short | Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble? |
| title_sort | bounds testing approaches to housing demand in turkey is there a real estate bubble |
| topic | housing demand real estate bubble bounds testing approach |
| url | https://dergipark.org.tr/tr/pub/ijefi/issue/32012/353805?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| work_keys_str_mv | AT aliosmansolak boundstestingapproachestohousingdemandinturkeyistherearealestatebubble AT burhankabadayı boundstestingapproachestohousingdemandinturkeyistherearealestatebubble |