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ÇOK KRİTERLİ KARAR VERME YÖNTEMLERİYLE EMLAK FİYATLARI VE KONUTA ERİŞEBİLİRLİK AÇISINDAN ŞEHİR KARŞILAŞTIRMALARI

Year 2022, Volume: 6 Issue: 2, 176 - 217, 01.10.2022

Abstract

Özellikle pandemi döneminin başlangıcından itibaren dünya genelinde emlak fiyatlarının hızla artmasıyla birlikte düşük ve orta gelirli milyonlarca insan kira ve konut fiyatları nedeniyle önemli sorunlar yaşamaktadır. Buna bağlı olarak, gelirlerinin önemli bir kısmını kira ya da konut kredisine ayırmaları gerekmektedir. Konut kira ve satın alma fiyatları, ortalama aile gelirine göre daha hızlı artmaktadır. 17 Sürdürülebilir Kalkınma Hedefi'nin ve 169 ilgili hedefin çoğu, konutla diğer başlıklara göre daha fazla bağlantılıdır. Hükümetler, Sürdürülebilir Kalkınma Hedeflerini destekleyen politikalar aracılığıyla tüm bireylerin sosyal, ekonomik ve ekolojik olarak sürdürülebilir toplu-luklarda yeterli ve uygun fiyatlı konutlara erişebildiği ve herkesin tam potansiyeline ulaşabileceği bir ortam sağlamalıdır. Çalışma, konut satın alınabilirliği ve emlak fi-yatlarının performansını ölçmede kullanılan göstergelerin sistematik olarak nasıl analiz edileceğine dair ve karşılaştırma yapabilmek için küme analizi ve çok kriterli karar verme yöntemlerinden oluşan yeni ve özgün bir bütünleşik yaklaşım önermektedir. Gösterge ağırlıkları Critic yöntemi ile objektif olarak belirlendikten sonra 25 ülkeden 60 şehir TOPSIS, VIKOR, PROMETHEE I-II, ARAS, COPRAS, ELECTRE, SAW ve MAUT yöntemleri ile karşılaştırılmıştır. Ayrıca Borda Sayım Metodu ile genel bir ortak sıralama elde edilmiştir. Ayrıca ülkeler ve şehirler bazında değerlendirmeler ve karşılaştırmalar yapılmaktadır.

References

  • Akkas, M. E., & Sayilgan, G. (2015). Housing Prices and Mortgage Interest Rate: Toda-Yamamoto Causality Test. Journal of Economics Finance and Accounting, 2(4).
  • Alaloul, W. S., Musarat, M. A., Rabbani, M. B. A., Iqbal, Q., Maqsoom, A., & Farooq, W. (2021). Construction sector contribution to economic stability: Malaysian GDP distribution. Sustainability, 13(9), 5012.
  • Almusaed, A., & Almssad, A. (2018). Housing. BoD–Books on Demand.
  • Anacker, K. B. (2019). Introduction: Housing affordability and affordable housing. In (Vol. 19, pp. 1-16): Taylor & Francis.
  • Bahmani-Oskooee, M., & Wu, T.-P. (2018). Housing prices and real effective exchange rates in 18 OECD countries: a bootstrap multivariate panel Granger causality. Economic Analysis and Policy, 60, 119-126.
  • Brans, J.-P., & Vincke, P. (1985). Note—A Preference Ranking Organisation Method: (The PROMETHEE Method for Multiple Criteria Decision-Making). Management science, 31(6), 647-656.
  • Chatterjee, P., Athawale, V. M., & Chakraborty, S. (2011). Materials selection using complex proportional assessment and evaluation of mixed data methods. Materials & Design, 32(2), 851-860.
  • Chen, J., Zhang, H., & Zhou, Q. (2021). Rule by law, law-based governance, and housing prices: The case of China. Land, 10(6), 616.
  • Cheong, T. S., & Li, J. (2018). Transitional distribution dynamics of housing affordability in Australia, Canada and USA. International Journal of Housing Markets and Analysis.
  • Chiwuzie, A., & Dabara, D. I. (2021). Housing construction costs and house rents fluctuations in an emerging property market: the case of Osogbo, Nigeria. Property Management.
  • Dağdeviren, M., & Erarslan, E. (2008). PROMETHEE siralama yöntemi ile tedarikçi seçimi. Gazi Üniversitesi Mühendislik-Mimarlık Fakültesi Dergisi, 23(1).
  • Das, M. C., Sarkar, B., & Ray, S. (2012). A framework to measure relative performance of Indian technical institutions using integrated fuzzy AHP and COPRAS methodology. Socio-Economic Planning Sciences, 46(3), 230-241.
  • Dawkins, C. (2021). Realizing housing justice through comprehensive housing policy reform. International Journal of Urban Sciences, 25(sup1), 266-281.
  • Diakoulaki, D., Mavrotas, G., & Papayannakis, L. (1995). Determining objective weights in multiple criteria problems: The critic method. Computers & Operations Research, 22(7), 763-770.
  • Emekci, S. (2021). How the pandemic has affected Turkish housing affordability: why the housing running cost is so important. City, Territory and Architecture, 8(1), 1-13.
  • Englund, P., & Ioannides, Y. M. (1997). House price dynamics: an international empirical perspective. Journal of Housing Economics, 6(2), 119-136.
  • Erdin, C., & Ozkaya, G. (2017). The performance evaluation of the ASEAN countries and Turkey in the sustainable development index framework with the TOPSIS method. Yildiz Soc. Sci. Inst. J, 1(2), 150-163.
  • Europe, S. W. (2017). Why Affordable Housing is Key to Deliver SDGs. https://www.sdgwatcheurope.org/why-affordable-housing-is-key-to-deliver-sdgs/
  • Fields, D. J., & Hodkinson, S. N. (2018). Housing policy in crisis: An international perspective. In (Vol. 28, pp. 1-5): Taylor & Francis.
  • Galster, G., & Lee, K. O. (2021). Housing affordability: A framing, synthesis of research and policy, and future directions. International Journal of Urban Sciences, 25(sup1), 7-58.
  • Geng, M. N. (2018). Fundamental drivers of house prices in advanced economies. International Monetary Fund.
  • Hepsen, A., & Asici, M. (2013). The association between current account deficit and house prices in Turkey. Journal of Applied Finance & Banking, 3(3), 65-79.
  • Hsieh, C.-T., & Moretti, E. (2019). Housing constraints and spatial misallocation. American Economic Journal: Macroeconomics, 11(2), 1-39.
  • Hurbánková, Ľ. (2021). Comparison of Slovakia Regions Based on Scoring Method. EMAN 2021–Economics & Management: How to Cope with Disrupted Times, 65.
  • Institute, T. S. (2012). Construction and Housing Statistics. https://data.tuik.gov.tr/Kategori/GetKategori?p=Insaat-ve-Konut-116
  • Ishizaka, A., & Nemery, P. (2011). Selecting the best statistical distribution with PROMETHEE and GAIA. Computers & Industrial Engineering, 61(4), 958-969.
  • Jiang, Y., Zhao, D., Sanderford, A., & Du, J. (2018). Effects of bank lending on urban housing prices for sustainable development: A Panel Analysis of Chinese Cities. Sustainability, 10(3), 642.
  • Kaklauskas, A., Zavadskas, E. K., Naimavicienė, J., Krutinis, M., Plakys, V., & Venskus, D. (2010). Model for a complex analysis of intelligent built environment. Automation in construction, 19(3), 326-340.
  • Kartal, M. T., Depren, S. K., & Depren, Ö. (2021). Housing prices in emerging countries during COVID-19: evidence from Turkey. International Journal of Housing Markets and Analysis.
  • Kate Everett-Allen, K. F. (2021). What impact is Covid-19 having on global house prices? https://www.knightfrank.com/research/article/2020-09-07-global-house-price-index-q2-2020
  • Kim, J., & Yook, S.-H. (2021). Statistical property of record breaking events in the Korean housing market. Journal of the Korean Physical Society, 78(7), 642-649.
  • Konuşkan, Ö., Endüstri Mühendisliği, A., & UYGUN, Ö. (2014). ÇOK NİTELİKLİ KARAR VERME (MAUT) YÖNTEMİ VE BİR UYGULAMASI.
  • Lamboray, C. (2007). A comparison between the prudent order and the ranking obtained with Borda's, Copeland's, Slater's and Kemeny's rules. Mathematical Social Sciences, 54(1), 1-16.
  • Leventhal, T., & Newman, S. (2010). Housing and child development. Children and Youth Services Review, 32(9), 1165-1174.
  • Lin, Y., Ma, Z., Zhao, K., Hu, W., & Wei, J. (2018). The impact of population migration on urban housing prices: Evidence from China’s major cities. Sustainability, 10(9), 3169.
  • Lippman, D. (2017). Math in society. David Lippman.
  • Liu, J., & Ong, H. Y. (2021). Can Malaysia’s National Affordable Housing Policy Guarantee Housing Affordability of Low-Income Households? Sustainability, 13(16), 8841.
  • Luca, O., & Geis, A. (2021). Real Estate in the Netherlands: A Taxonomy of Risks and Policy Challenges.
  • Matoušek, D. (2021). Affordability of own housing across regions of the Czech Republic.
  • Newman, S. J., & Holupka, C. S. (2014). Housing affordability and investments in children. Journal of Housing Economics, 24, 89-100.
  • Numbeo. (2022). Property Prices Index by City 2022. In.
  • Nuray, R., & Can, F. (2006). Automatic ranking of information retrieval systems using data fusion. Information processing & management, 42(3), 595-614.
  • Olanrewaju, A. L., Lim, X. Y., Tan, S. Y., Lee, J. E., & Adnan, H. (2018). Factors affecting housing prices in Malaysia: Analysis of the supply side. Planning Malaysia, 16.
  • Ömürbek, N., Karaatlı, M., & Balcı, H. F. (2016). Entropi temelli MAUT ve SAW yöntemleri ile otomotiv firmalarının performans değerlemesi. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, 31(1), 227-255.
  • Ömürbek, N., Karaatli, M., & Cömert, H. G. (2016). AHP-SAW ve AHP-ELECTRE Yöntemleri ile Yapı Denetim Firmalarının Değerlendirmesi. Journal of Administrative Sciences/Yonetim Bilimleri Dergisi, 14(27).
  • Özdağoğlu, A. (2013). Çok ölçütlü karar verme modellerinde normalizasyon tekniklerinin sonuçlara etkisi: COPRAS örneği. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 8(2), 229-255.
  • Ozkaya, G., & Erdin, C. (2020). Evaluation of sustainable forest and air quality management and the current situation in europe through operation research methods. Sustainability, 12(24), 10588.
  • Rehman, M. U., Ali, S., & Shahzad, S. J. H. (2020). Asymmetric nonlinear impact of oil prices and inflation on residential property prices: a case of US, UK and Canada. The Journal of Real Estate Finance and Economics, 61(1), 39-54.
  • Saldaña-Márquez, H., Gámez-García, D. C., Gómez-Soberón, J. M., Arredondo-Rea, S. P., Corral-Higuera, R., & Gómez-Soberón, M. C. (2019). Housing indicators for sustainable cities in middle-income countries through the residential urban environment recognized using single-family housing rating systems. Sustainability, 11(16), 4276.
  • Samarasinghe, D. A. S. (2021). The housing crisis in Australia and New Zealand: A comparative analysis through policy lenses. Int. J. Constr. Supply Chain. Manag, 10, 212-223.
  • Triantaphyllou, E. (2000). Multi-criteria decision making methods. In Multi-criteria decision making methods: A comparative study (pp. 5-21). Springer.
  • Un-Habitat, & Programme, U. N. H. S. (2011). Cities and climate change: global report on human settlements, 2011. Routledge.
  • Wrenn, D. H., Yi, J., & Zhang, B. (2019). House prices and marriage entry in China. Regional Science and Urban Economics, 74, 118-130.
  • Wu, W., Stephens, M., Du, M., & Wang, B. (2019). Homeownership, family composition and subjective wellbeing. Cities, 84, 46-55.
  • Yeh, C. H. (2002). A problem‐based selection of multi‐attribute decision‐making methods. International Transactions in Operational Research, 9(2), 169-181.
  • Yi, B., Qiao, H., Yang, F., & Xu, C. (2010). An improved initialization center algorithm for K-means clustering. 2010 International Conference on Computational Intelligence and Software Engineering,
  • Zavadskas, E. K., & Turskis, Z. (2010). A new additive ratio assessment (ARAS) method in multicriteria decision‐making. Technological and Economic Development of Economy, 16(2), 159-172.

CITY COMPARISONS IN TERMS OF PROPERTY PRICES AND HOUSING AFFORDABILITY THROUGH MULTI-CRITERIA DECISION-MAKING METHODS

Year 2022, Volume: 6 Issue: 2, 176 - 217, 01.10.2022

Abstract

Especially since the beginning of the pandemic period, millions of people with low and middle incomes are experiencing significant problems due to the rapid increase in real estate prices worldwide. Therefore, they have to allocate a significant portion of their income to rent or housing loans. The price of renting and purchasing a home is increasing faster than the average family income. Many of the 17 SDGs and 169 related objectives have a greater connection to housing than others. Governments should provide an environment where all individuals have access to adequate and affordable housing in socially, economically and ecologically sustainable communities, and where everyone can reach their full potential, through policies that support the Sustainable Development Goals. This study proposes a new and original integrated approach consisting of cluster analysis and multi-criteria decision-making methods to systematically analyse indicators and compare the performance of housing affordability and property prices in cities. After determining the indicator weights objectively with the Critic method, 60 cities from 25 countries are compared with TOPSIS, VIKOR, PROMETHEE I-II, ARAS, COPRAS, ELECTRE, SAW and MAUT methods. Also, a general common ranking was obtained with the Borda Count Method. In addition, evaluations and comparisons are made in terms of countries and cities.

References

  • Akkas, M. E., & Sayilgan, G. (2015). Housing Prices and Mortgage Interest Rate: Toda-Yamamoto Causality Test. Journal of Economics Finance and Accounting, 2(4).
  • Alaloul, W. S., Musarat, M. A., Rabbani, M. B. A., Iqbal, Q., Maqsoom, A., & Farooq, W. (2021). Construction sector contribution to economic stability: Malaysian GDP distribution. Sustainability, 13(9), 5012.
  • Almusaed, A., & Almssad, A. (2018). Housing. BoD–Books on Demand.
  • Anacker, K. B. (2019). Introduction: Housing affordability and affordable housing. In (Vol. 19, pp. 1-16): Taylor & Francis.
  • Bahmani-Oskooee, M., & Wu, T.-P. (2018). Housing prices and real effective exchange rates in 18 OECD countries: a bootstrap multivariate panel Granger causality. Economic Analysis and Policy, 60, 119-126.
  • Brans, J.-P., & Vincke, P. (1985). Note—A Preference Ranking Organisation Method: (The PROMETHEE Method for Multiple Criteria Decision-Making). Management science, 31(6), 647-656.
  • Chatterjee, P., Athawale, V. M., & Chakraborty, S. (2011). Materials selection using complex proportional assessment and evaluation of mixed data methods. Materials & Design, 32(2), 851-860.
  • Chen, J., Zhang, H., & Zhou, Q. (2021). Rule by law, law-based governance, and housing prices: The case of China. Land, 10(6), 616.
  • Cheong, T. S., & Li, J. (2018). Transitional distribution dynamics of housing affordability in Australia, Canada and USA. International Journal of Housing Markets and Analysis.
  • Chiwuzie, A., & Dabara, D. I. (2021). Housing construction costs and house rents fluctuations in an emerging property market: the case of Osogbo, Nigeria. Property Management.
  • Dağdeviren, M., & Erarslan, E. (2008). PROMETHEE siralama yöntemi ile tedarikçi seçimi. Gazi Üniversitesi Mühendislik-Mimarlık Fakültesi Dergisi, 23(1).
  • Das, M. C., Sarkar, B., & Ray, S. (2012). A framework to measure relative performance of Indian technical institutions using integrated fuzzy AHP and COPRAS methodology. Socio-Economic Planning Sciences, 46(3), 230-241.
  • Dawkins, C. (2021). Realizing housing justice through comprehensive housing policy reform. International Journal of Urban Sciences, 25(sup1), 266-281.
  • Diakoulaki, D., Mavrotas, G., & Papayannakis, L. (1995). Determining objective weights in multiple criteria problems: The critic method. Computers & Operations Research, 22(7), 763-770.
  • Emekci, S. (2021). How the pandemic has affected Turkish housing affordability: why the housing running cost is so important. City, Territory and Architecture, 8(1), 1-13.
  • Englund, P., & Ioannides, Y. M. (1997). House price dynamics: an international empirical perspective. Journal of Housing Economics, 6(2), 119-136.
  • Erdin, C., & Ozkaya, G. (2017). The performance evaluation of the ASEAN countries and Turkey in the sustainable development index framework with the TOPSIS method. Yildiz Soc. Sci. Inst. J, 1(2), 150-163.
  • Europe, S. W. (2017). Why Affordable Housing is Key to Deliver SDGs. https://www.sdgwatcheurope.org/why-affordable-housing-is-key-to-deliver-sdgs/
  • Fields, D. J., & Hodkinson, S. N. (2018). Housing policy in crisis: An international perspective. In (Vol. 28, pp. 1-5): Taylor & Francis.
  • Galster, G., & Lee, K. O. (2021). Housing affordability: A framing, synthesis of research and policy, and future directions. International Journal of Urban Sciences, 25(sup1), 7-58.
  • Geng, M. N. (2018). Fundamental drivers of house prices in advanced economies. International Monetary Fund.
  • Hepsen, A., & Asici, M. (2013). The association between current account deficit and house prices in Turkey. Journal of Applied Finance & Banking, 3(3), 65-79.
  • Hsieh, C.-T., & Moretti, E. (2019). Housing constraints and spatial misallocation. American Economic Journal: Macroeconomics, 11(2), 1-39.
  • Hurbánková, Ľ. (2021). Comparison of Slovakia Regions Based on Scoring Method. EMAN 2021–Economics & Management: How to Cope with Disrupted Times, 65.
  • Institute, T. S. (2012). Construction and Housing Statistics. https://data.tuik.gov.tr/Kategori/GetKategori?p=Insaat-ve-Konut-116
  • Ishizaka, A., & Nemery, P. (2011). Selecting the best statistical distribution with PROMETHEE and GAIA. Computers & Industrial Engineering, 61(4), 958-969.
  • Jiang, Y., Zhao, D., Sanderford, A., & Du, J. (2018). Effects of bank lending on urban housing prices for sustainable development: A Panel Analysis of Chinese Cities. Sustainability, 10(3), 642.
  • Kaklauskas, A., Zavadskas, E. K., Naimavicienė, J., Krutinis, M., Plakys, V., & Venskus, D. (2010). Model for a complex analysis of intelligent built environment. Automation in construction, 19(3), 326-340.
  • Kartal, M. T., Depren, S. K., & Depren, Ö. (2021). Housing prices in emerging countries during COVID-19: evidence from Turkey. International Journal of Housing Markets and Analysis.
  • Kate Everett-Allen, K. F. (2021). What impact is Covid-19 having on global house prices? https://www.knightfrank.com/research/article/2020-09-07-global-house-price-index-q2-2020
  • Kim, J., & Yook, S.-H. (2021). Statistical property of record breaking events in the Korean housing market. Journal of the Korean Physical Society, 78(7), 642-649.
  • Konuşkan, Ö., Endüstri Mühendisliği, A., & UYGUN, Ö. (2014). ÇOK NİTELİKLİ KARAR VERME (MAUT) YÖNTEMİ VE BİR UYGULAMASI.
  • Lamboray, C. (2007). A comparison between the prudent order and the ranking obtained with Borda's, Copeland's, Slater's and Kemeny's rules. Mathematical Social Sciences, 54(1), 1-16.
  • Leventhal, T., & Newman, S. (2010). Housing and child development. Children and Youth Services Review, 32(9), 1165-1174.
  • Lin, Y., Ma, Z., Zhao, K., Hu, W., & Wei, J. (2018). The impact of population migration on urban housing prices: Evidence from China’s major cities. Sustainability, 10(9), 3169.
  • Lippman, D. (2017). Math in society. David Lippman.
  • Liu, J., & Ong, H. Y. (2021). Can Malaysia’s National Affordable Housing Policy Guarantee Housing Affordability of Low-Income Households? Sustainability, 13(16), 8841.
  • Luca, O., & Geis, A. (2021). Real Estate in the Netherlands: A Taxonomy of Risks and Policy Challenges.
  • Matoušek, D. (2021). Affordability of own housing across regions of the Czech Republic.
  • Newman, S. J., & Holupka, C. S. (2014). Housing affordability and investments in children. Journal of Housing Economics, 24, 89-100.
  • Numbeo. (2022). Property Prices Index by City 2022. In.
  • Nuray, R., & Can, F. (2006). Automatic ranking of information retrieval systems using data fusion. Information processing & management, 42(3), 595-614.
  • Olanrewaju, A. L., Lim, X. Y., Tan, S. Y., Lee, J. E., & Adnan, H. (2018). Factors affecting housing prices in Malaysia: Analysis of the supply side. Planning Malaysia, 16.
  • Ömürbek, N., Karaatlı, M., & Balcı, H. F. (2016). Entropi temelli MAUT ve SAW yöntemleri ile otomotiv firmalarının performans değerlemesi. Dokuz Eylül Üniversitesi İktisadi İdari Bilimler Fakültesi Dergisi, 31(1), 227-255.
  • Ömürbek, N., Karaatli, M., & Cömert, H. G. (2016). AHP-SAW ve AHP-ELECTRE Yöntemleri ile Yapı Denetim Firmalarının Değerlendirmesi. Journal of Administrative Sciences/Yonetim Bilimleri Dergisi, 14(27).
  • Özdağoğlu, A. (2013). Çok ölçütlü karar verme modellerinde normalizasyon tekniklerinin sonuçlara etkisi: COPRAS örneği. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 8(2), 229-255.
  • Ozkaya, G., & Erdin, C. (2020). Evaluation of sustainable forest and air quality management and the current situation in europe through operation research methods. Sustainability, 12(24), 10588.
  • Rehman, M. U., Ali, S., & Shahzad, S. J. H. (2020). Asymmetric nonlinear impact of oil prices and inflation on residential property prices: a case of US, UK and Canada. The Journal of Real Estate Finance and Economics, 61(1), 39-54.
  • Saldaña-Márquez, H., Gámez-García, D. C., Gómez-Soberón, J. M., Arredondo-Rea, S. P., Corral-Higuera, R., & Gómez-Soberón, M. C. (2019). Housing indicators for sustainable cities in middle-income countries through the residential urban environment recognized using single-family housing rating systems. Sustainability, 11(16), 4276.
  • Samarasinghe, D. A. S. (2021). The housing crisis in Australia and New Zealand: A comparative analysis through policy lenses. Int. J. Constr. Supply Chain. Manag, 10, 212-223.
  • Triantaphyllou, E. (2000). Multi-criteria decision making methods. In Multi-criteria decision making methods: A comparative study (pp. 5-21). Springer.
  • Un-Habitat, & Programme, U. N. H. S. (2011). Cities and climate change: global report on human settlements, 2011. Routledge.
  • Wrenn, D. H., Yi, J., & Zhang, B. (2019). House prices and marriage entry in China. Regional Science and Urban Economics, 74, 118-130.
  • Wu, W., Stephens, M., Du, M., & Wang, B. (2019). Homeownership, family composition and subjective wellbeing. Cities, 84, 46-55.
  • Yeh, C. H. (2002). A problem‐based selection of multi‐attribute decision‐making methods. International Transactions in Operational Research, 9(2), 169-181.
  • Yi, B., Qiao, H., Yang, F., & Xu, C. (2010). An improved initialization center algorithm for K-means clustering. 2010 International Conference on Computational Intelligence and Software Engineering,
  • Zavadskas, E. K., & Turskis, Z. (2010). A new additive ratio assessment (ARAS) method in multicriteria decision‐making. Technological and Economic Development of Economy, 16(2), 159-172.
There are 57 citations in total.

Details

Primary Language English
Journal Section Uluslararası Toplumsal Bilimler Dergisi Cilt 6 Sayı 2
Authors

Gökhan Özkaya 0000-0002-2267-6568

Publication Date October 1, 2022
Published in Issue Year 2022 Volume: 6 Issue: 2

Cite

APA Özkaya, G. (2022). CITY COMPARISONS IN TERMS OF PROPERTY PRICES AND HOUSING AFFORDABILITY THROUGH MULTI-CRITERIA DECISION-MAKING METHODS. Uluslararası Toplumsal Bilimler Dergisi, 6(2), 176-217.