Determinants of house prices in Istanbul: a quantile regression approach |
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Authors: | Email author" target="_blank">?a?layan?EbruEmail author Arikan?Eban |
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Institution: | (1) Department of Economics and Finance, Middle Tennessee State University, Murfreesboro, TN 37132, USA;(2) Department of Economics and Finance, Middle Tennessee State University, P.O. Box 27, Murfreesboro, TN 37132, USA;(3) Department of Insurance, Real Estate and Business Law, The Florida State University, Tallahassee, FL, USA |
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Abstract: | This paper uses quantile regression methods where a hedonic equation is estimated for each quantile of the conditional distribution
of housing prices. The survey data are used to investigate the relationship between house prices and housing characteristics
in Istanbul. This data set includes some housing characteristics of the dwellings like numbers of room, bathroom, heating
system, location of house etc. In the results of this paper show some similarities and differences from earlier studies on
housing prices. We find that age, cable tv, security, heating system, garage, kitchen area, increasing numbers of room and
bathroom increase the house prices. Our findings also show that side variable which is a special factor for Istanbul real
estate market has negative effect on the prices. It is clear that the factors of housing prices can change because of the
properties of country, region or city. The results of this study may give some important interpretations for developing real
estate market. |
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Keywords: | |
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