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Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?

Year 2016, Volume: 6 Issue: 3, 1132 - 1135, 01.05.2016

Ali Osman Solak Burhan Kabadayı

Abstract

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.

Keywords

Housing Demand Real Estate Bubble Bounds Testing Approach

Year 2016, Volume: 6 Issue: 3, 1132 - 1135, 01.05.2016

Ali Osman Solak Burhan Kabadayı

Abstract

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Details

Other ID JA97HC36YA
Journal Section Research Article
Authors

Ali Osman Solak This is me

Burhan Kabadayı This is me

Publication Date May 1, 2016
Published in Issue Year 2016 Volume: 6 Issue: 3

Cite

APA Solak, A. O., & Kabadayı, B. (2016). Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?. International Journal of Economics and Financial Issues, 6(3), 1132-1135.
AMA Solak AO, Kabadayı B. Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?. IJEFI. May 2016;6(3):1132-1135.
Chicago Solak, Ali Osman, and Burhan Kabadayı. “Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?”. International Journal of Economics and Financial Issues 6, no. 3 (May 2016): 1132-35.
EndNote Solak AO, Kabadayı B (May 1, 2016) Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?. International Journal of Economics and Financial Issues 6 3 1132–1135.
IEEE A. O. Solak and B. Kabadayı, “Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?”, IJEFI, vol. 6, no. 3, pp. 1132–1135, 2016.
ISNAD Solak, Ali Osman - Kabadayı, Burhan. “Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?”. International Journal of Economics and Financial Issues 6/3 (May 2016), 1132-1135.
JAMA Solak AO, Kabadayı B. Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?. IJEFI. 2016;6:1132–1135.
MLA Solak, Ali Osman and Burhan Kabadayı. “Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?”. International Journal of Economics and Financial Issues, vol. 6, no. 3, 2016, pp. 1132-5.
Vancouver Solak AO, Kabadayı B. Bounds Testing Approaches to Housing Demand in Turkey: Is There a Real Estate Bubble?. IJEFI. 2016;6(3):1132-5.