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Paper eres2007_305:
Local House Price Index for Istanbul Metropolitan Area

id eres2007_305
authors Arslanli, Kerem Yavuz; Vedia Dokmeci
year 2007
title Local House Price Index for Istanbul Metropolitan Area
source 14th Annual European Real Estate Society Conference in London, UK
summary The purpose of this paper has been to explore the nature of housing price differences in Istanbul Metropolitan Area. Recent studies on urban housing markets have widely accepted the existence and significance of housing sub-markets. This study investigates spatial distribution of housing prices in Istanbul by taking into consideration property and sub-market characteristics to identify localized factors. Conditions to construct a robust Local House Price Index for Istanbul also examined. Hedonic Regression models employed using ordinary least squares (OLS) to estimate house price. Especially in Istanbul house prices are highly spatially correlated the weight matrix approach employed to handle this problem. Findings of this study suggests that recently introduced Mortgage Law in Turkish banking system strongly needs House Price Indices (HPI) to be studied deeply in different market segments sub-market characteristics and local factors.
series ERES:conference
discussion No discussions. Post discussion ...
session Session F9: Hedonic Modelling I
last changed 2009/11/19 09:01
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