Gayrimenkul Fiyatlarının Derlenmesi Ülke Örnekleri ve Türkiye İçin Bir Uygulama

Refah düzeyinin belirlenmesinde önemli role sahip olan konut harcamaları ekonomik faaliyetle yakın ilişkiye sahip olurken, hanehalkının gelir ve tüketim harcamaları açısından, konut sektöründeki fiyat dinamiklerine ilişkin unsurların değerlendirilmesi önem arz etmektedir. Dünyada, kişi başına düşen gelirin artmasının da etkisiyle artan konut talebine paralel olarak, konut fiyatlarında son yıllarda iki haneli büyüme rakamları gözlenirken, merkez bankaları emlak piyasasındaki gelişmeleri mercek altına almaktadır. Finansal serbestleşme ile gelen kredi genişlemesi ile emlak piyasalarındaki likidite akışı fiyatlarda yukarı yönlü bir hareketi beraberinde getirirken, emlak balonunun oluşma riskini ve sonrasında bu balonun sönmesiyle gerçekleşebilecek olası bir çöküş riskini artırmaktadır. Bu doğrultuda, gayrimenkul fiyatlarına ait veriler emlak sektörüne ilişkin sağlıklı analizlerin yapılmasına olanak sağlamaktadır. Bu çalışmanın amacı, dünyada gayrimenkul fiyatlarının nasıl hesaplandığını görmenin yanı sıra, hesaplamalarda görülen olası zorlukları gözler önüne sermektir. Ayrıca çalışmada, Türkiye’ye ilişkin sınırlı sayıda göstergeye değinildikten sonra, konut fiyatları ve özellikleri arasındaki ilişkiyi irdelemek üzere seçilen örneklemle ampirik çalışma yapılmıştır.

The Compilation of House Prices Country Examples and an Application for Turkey

Housing expenditures have a major impact on wealth, and are closely associated with economic activity. From the households’ income and consumption perspective, monitoring price dynamics of the housing sector has become an important issue. As housing demand gained ground with the increase in per capita income, annual growth rate of house prices are measured in double digits; so central banks have to take an interest in the developments of housing markets. Besides, credit growth and global liquidity are stimulating the rise in house prices, in essence all may be laying the groundwork for a housing bubble that may crash in the future. Therefore, appropriate data referring to house prices are crucial for analysts. The aim of this study is then not only to see how house prices are compiled in several countries but also to show potential obstacles that may be seen in the future while compiling Turkish house prices. Furthermore, after examining data available in Turkey on house prices, a hedonic regression model will be constructed to reflect the relationship between house prices and housing characteristics empirically.

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