MUĞLA KONUT PİYASASINDA YATIRIMCI PSİKOLOJİSİNİN ANALİZİ

Öz

Yatırımcıların karar alma süreci pek çok önyargı ve duygulara dayanmaktadır. Bu nedenle piyasalarda özellikle de finansal piyasalarda genellikle sınırlı rasyonalitenin hakim olduğu görülmektedir. Muhafazakarlık, optimizm, geri görüş, pişmanlıktan kaçınma, aşırı güven, sürü davranışı, aşinalık, kendine atfetme, aşırı veya eksik duyarlılık bunlardan en göze çarpanlarıdır. Bu önyargı ve duygular aynı anda pek çok yatırımcıyı etkisi altına alarak kartopu etkisi yaratmakta ve piyasalarda köpüklere yol açarak ani fiyat çöküşlerini beraberinde getirebilmektedir. Finansal piyasalar gibi konut piyasasında da bu tür eğilimlerin varlığı yadsınamaz. Konut piyasasında, diğer piyasalarda olduğu gibi yatırımcılar duygularının ve önyargılarının etkisi altında kararlar almaktadır. Bu çalışmada, Muğla konut piyasasında yatırımcıların hangi psikolojik eğilimlerle yatırım kararları aldıkları araştırılmıştır. Bunun için rastgele seçilen 70 konut sahibiyle derinlemesine mülakat anketi gerçekleştirilerek konut piyasasına dair psikolojik eğilimleri ortaya konulmaya çalışılmıştır. Elde edilen bulgulara göre, Muğla konut piyasasında yatırım yapanlar muhafazakar, aşinalık önyargısına sahip ve risk almaktan kaçınan yatırımcı tipine uygun hareket etmektedir.

Anahtar Kelimeler

• Davranışsal İktisat
• Sınırlı Rasyonalite
• Psikolojik Önyargılar
• Konut Piyasası

ANALYSIS OF INVESTORS PSYCHOLOGY IN MUGLA HOUSING MARKET

Abstract

Limited rationality is mostly seen in the market because of the process of decision making based to the numerous prejudice/emotions. The most prominent them are conservatism, optimism, hindsight bias, disposition, overconfidence, herd behaviour, familiarity bias, self attribution, over/less sentiment. This prejudice/emotions create snow-ball effect due to the taking under the influence many investors in the same time and can bring sudden price collapse by causing of the bubbles in the markets. Determined under the influence of investors emotions and prejudices, as in the other markets in the housing market. In this study, investigated which owned the psychological tendency of investors in Mugla real-estate market. For this purpose in-depth interviews with randomly selected 70 investors and put forth to psychological tendency to the real-estate. According to the findings, investors that in Mugla real-estate market act suitable to investors type of the conservative, with familiarity bias, risk averse.

Keywords

• Behavioral Economics
• Limited Rationality
• Psychological Prejudices
• Real Estate Markets

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