||Testing for Bubbles in Turkish Housing Markets: A Comparison of Alternative Methods
||Coskun, Yener; Ali Alp; H. Murat Ertugrul; Unal Seven
||Real estate economy has showed unusual performance in last decade in Turkey. Growing house supply/sales, credit volume, and rising house prices have mostly marked as boom. The perception of housing boom has also raised concerns among local/inernational investors, consumers, and policy-makers. The objective of the paper is to present the findings of the first comprehensive bubble analysis of Turkish housing markets utilizing/comparing several alternative methods. In order to address research questions, the study established two research objectives, 1) To identify characteristic variables of a housing bubble analysis in the context of Turkish housing market, and 2) To emprically measure whether rising house prices have been justified by fundamental factors. The outcomes of the study provides critical knowledges to domestic/international stakeholders of Turkish housing (and real estate) market.
|Year of publication:
||Housing bubble, residential market, house price, mortgage, Turkey
Coskun, Yener; Ali Alp; H. Murat Ertugrul; Unal Seven (2015).
Testing for Bubbles in Turkish Housing Markets: A Comparison of Alternative Methods. 22nd Annual European Real Estate Society Conference in Istanbul, Turkey,