HEDONIC ESTIMATION OF HOUSING MARKET PRICES IN TURKEY

Yıl 2014, , 67 - 82, 18.05.2015

Rüştü Yayar Derya Demir

https://doi.org/10.18070/euiibfd.42448

Cited By: 15

Öz

In this study, there has been aimed to determine the factors that affect the price of flats in the housing sector in Turkey with a hedonic pricing model. According to the model results, the house’s having residential swimming pool, a jacuzzi and a water tank, its being a duplex, its central heating system, its being closer to the center, the size of the house, the bathroom floor’s being vinyl or PVC, being closer to banking services and compulsory education services,  its having  cable TV, telephone lines and parking opportunities increases the value of the house. The house is in the basement or ground floor of the building construction date is first, the room is the floor of ceramic tiles, bathroom floor screed (concrete road) the fuel used is coal, reduces the value of the house.

Anahtar Kelimeler

Housing Prices, Hedonic Pricing Model, Housing Market, Turkey.

TÜRKİYE’DEKİ KONUT PİYASASI FİYATLARININ HEDONİK TAHMİNİ

Öz

Bu çalışmada, Türkiye konut sektöründe apartman dairelerinin fiyatını etkileyen faktörlerin belirlenmesi amaçlanmıştır Model sonuçlarına göre, konutlarda havuz, jakuzi ve su deposu bulunması, konutun dubleks daire olması, ısı sisteminin müşterek/merkezi olması, konutun büyüklüğü, banyo zemininin marley ya da PVC olması, banka hizmetlerine ve zorunlu eğitim hizmetlerine yakın olması, kablolu yayın, telefon hattı ve garaj bulunması konutun değerini artırmaktadır. Konutun bodrum ya da zemin kat olması, binanın yapım tarihinin eski olması, oda zemininin karo seramik olması, banyo zemininin şap (kara beton) olması, kullanılan yakıtın kömür olması konutun değerini düşürmektedir

Anahtar Kelimeler

-

Kaynakça

• ARCAN, Enis Faik and Fikret EVCİ; (1999), Approach to Architectural Design, Second Edition, Istanbul: Design Publishing Group.
• ARIKAN, Fatma Eban; (2008), “Determination of Factors that Affect House Rents with Hedonic Pricing Method”, Unpublished Postgraduate Thesis, Istanbul: Marmara University Social Sciences Institute.
• BALDEMİR, Ercan; Cüneyt Yenal KESBİÇ and Mustafa İNCİ; (2008), “Estimating Hedonic Demand Parameters in Real Estate Market (Muğla Example)”, İnönü University Journal of Social Sciences Enstitue, 20, pp. 41-66.
• BOYACIGİL, Onur; (2003), “A Case Study on the Hedonic Pricing Methodology in Iskenderun Urban Space”, Unpublished Postgraduate Thesis, Adana: Çukurova University Institute of Science.
• COHEN, Jeffrey P. and Cletus C. COUGHLIN; (2006), “Airport-Related Noise, Proximity, and Housing Prices in Atlanta”, Working Paper Federal Reserve Bank of St. Louis, pp. 1-34. Internet Address: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=840184, Date of Access: 21.11.2012.
• ÇUBUKÇU, Ebru and Gözde Ekşioğlu ÇETINTAHRA; (2011), “Investigating the Influence of Environmental Aesthetics on House Prices Using Hedonic Models”, İTÜ Journal, 10(1), pp. 3–12.
• GRILICHES, Zvi; (1991), “Hedonic Price Indexes and the Measurement of Capital and Productivity: Some Historical Reflections”, Fifty Years of Economic Measurement: The Jubilee of the Conference on Research in Income and Wealth , Conferans Seminer, University Of Chicago Press, 12-14 May, pp. 185-206. Internet Address: http://www.nber.org/chapters/ c5976.pdf,Date of Access: 20.11.2012.
• HARSMAN, Bjorn and John M. QUIGLEY; (1990), Housing Markets and Housing Institutions: An International Comparison, Boston: Kluwer Academic Publishers.
• HILL, Robert J. and Daniel MELSER; (2008), “Hedonic Impution and The Price Index Problem: An Application to Housing”, Economic Inquiry, 46(4), pp. 593-609.
• HIRCHMAN, Elizabeth C. and Morris B. HOLBROOK; (1982), “Hedonic Consumption: Emerging Concepts, Method sand Propositions”, Journal of Marketing, 46(3), pp. 92-101.
• KAIN, John F. and John M. QUIGLEY; (1970), “Measuring the Value of Housing Quality”, Journal of the American Statistical Association, 65(330), pp. 532–548.
• LANCESTER, Kelvin J.; (1966), “ A New Approach to Consumer Theory”, The Journal of Political Economy, 74(2), pp. 132–157.
• LEVENT, Haluk; (1995), “Hedonic Approach to Demand Theory and A Case Study: Determination of Real Estate Prices in Istanbul”, Unpublished Doctoral Thesis, Istanbul: Istanbul University Social Sciences Institute.
• MANKIW, N. Gregory; (2001), Principles of Economics, Second Edition, USA: Harcourt College Publishers.
• PARMETER, Christopher F.; Daniel J. HENDERSON and Subal C. KUMBHAKAR; (2007), “Nonparametric Estimation of A Hedonic Price Function”, Journal of Applied Econometrics, 22, pp. 695-699.
• RIDKER, Ronald G. and John A. HENNING; (1967), “The Determinants of Residential Property Values with Special Reference to Air Pollution”, The Review of Economics and Statistics, 49(2), pp. 246–257.
• ROSEN, Sherwin; (1974), “Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition”, Journal of Political Economy, 8(1), pp. 34–55.
• ROSEN, Sherwin; (1976), “A Theory of Life Earnings”, The Journal of Political Economy, Part 2: Essays in Labor Economics in Hanor of H. Gregglewis, 84(4), pp. 45–67.
• SELİM, Sibel; (2008), “Determinants of House Prices in Turkey: Hedonic Regression Model”, Doğuş University Journal, 9(1), pp. 65–76.
• SELİM, Hasan; (2009), “Determinants of House Prices in Turkey: Hedonic Regression Versus Artificial Neural Network”, Expert Systems with Applications, 36, pp. 2843–2852.
• SPANGENBERG, Eric R.; Kevin E. VASS and Ayn E. CROWLEY; (1997), “Measuring the Hedonic and Utilitarian Dimensions of Attitude: A Generally Applicable Scale”, Advances in Consumer Research, 24, pp. 235–241, Internet Address: http://www.acrwebsite.org/search/view- conference-proceedings.aspx?Id=8048, Date of Access: 19.11.2012.
• TODA, Yasushi and Nadezhda N. NOZDRINA; (2004), “The Spatial Distribution of the Apartment Prices in Moscow In 2002: Hedonic Estimation From Micro Data”, ENHR Conference, 2-6 July, Cambridge, pp. 1-9, Internet Address:http://isites.harvard.edu/fs/docs/ icb.topic871787.files/Moscow_Hedonic_Pricing.pdf, Date of Access: 19.11.2012.
• Turkish Statistics Institutes; (2011), “Household Budget Survey Microdata Set 2010”, tap.do?metod=KitapDetay&KT_ID=7&KITAP_ID=255, Date of Ac- cess: 20.11.2012. Address:
• http://www.tuik.gov.tr/ Ki
• ÜÇDOĞRUK, Şenay; (2001), “Factors that Affect Real Estate Prices in Izmir: Hedonic Approach”, Dokuz Eylül University Faculty of Economics and Administrative Sciences Journal, 16(2), pp. 149–161.
• WEN, Hai-zhen; Jyh-Feng LU and Ling LIN; (2004), “An Improved Method of Real Estate Evaluation Based on Hedonic Price Model”, IEEE International Publisher, Center for Real Estate Studying, Engineering Management Conference,18-21 October, China: Zhejiang University, pp. 1329-1332.
• WEN, Hai-zhen; Sheng-hua JIA and Xiao-yu GUO; (2005), “Hedonic Price Analysis of Urban Housing: An Empirical Research on Hangzhou”, Journal of Zhejiang University Science A, 6(8), pp. 907–914.
• YANG, Zan; (2001), “An Application Of The Hedonic Price Model With Uncertain Attribute, The Case Of The People’s Republic Of China”, Property Management, 19(1), pp. 50-63.
• YANKAYA, Uğur and Murat ÇELIK; (2005), (2005), “Modeling the Impact of Izmir Subway on the Housing Values with Hedonic Price Model”, Dokuz Eylül University İ.İ.B.F. Magazine, 20(2), pp. 61–79.
• YAYAR, Rüştü; (2011), “Estimating Hedonic Demand Parameters in Laptop Computer Market”, KMÜ Social and Economic Researches Journal, 13 (21), pp. 21-27.