The dynamics of housing affordability and housing demand analysis in Ankara

Ozturk A., Kapusuz Y. E., TANRIVERMİŞ H.

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS, vol.11, no.5, pp.828-851, 2018 (ESCI) identifier identifier

  • Publication Type: Article / Article
  • Volume: 11 Issue: 5
  • Publication Date: 2018
  • Doi Number: 10.1108/ijhma-08-2017-0079
  • Journal Name: INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS
  • Journal Indexes: Emerging Sources Citation Index (ESCI), Scopus
  • Page Numbers: pp.828-851
  • Keywords: Marketing, Interest rates, Housing affordability, Housing market analysis, Housing markets, Macroeconomics, COINTEGRATION, FRAMEWORK, MARKET, RATIO
  • Ankara University Affiliated: Yes

Abstract

Purpose Information about the current and future composition of the population in terms of household size and the desired housing preferences provides a good foundation for determining current and future housing needs. The policy-makers and developers can also use such knowledge as a starting point in their housing and commercial real estate investment decisions. In Turkey, urbanization and housing issues have accompanied the growth of industrialization. Within the scope of the country's urbanization history, various instruments have been used to solve the lack of housing issues. The constructed houses should be accessible or affordable by fixed-income earners in the middle and lower socio-economic classes, who are mostly excluded. In particular, the real estate development sector has taken manageable risks by closely following the changing social and economic conditions and developing a variety of housing concepts. The purpose of this paper is to investigate the housing sector situation and affordability issues and then use time series analysis to present relationships between macroeconomic factors and housing demand in Ankara region.