Determinants of Regional Housing Sales in Türkiye: A Spatial Econometric Analysis
Determinants of Regional Housing Sales in Türkiye: A Spatial Econometric Analysis

Summary/Abstract: This study aims to measure the presence of spatial effects on housing sales in Türkiye at a regional level. The analysis specifically investigates the impact of interest rates, housing credit volume, and construction permits on regional housing sales in Türkiye, as well as other factors commonly used in the literature, such as real housing price, inflation, migration rate, unemployment, and GDP per capita. Using data from 2010 to 2023, NUTS-2 regions are analyzed through a spatial panel data method. The results indicate spatial interdependence in housing sales among regions of Türkiye. Furthermore, increases in the real housing price index, housing loan, interest rates, and inflation have been found to reduce housing sales, whereas increases in the total amount of housing loans and net migration rates lead to higher housing sales.

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