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TÜRKİYE’DE KONUT PİYASASININ BELİRLEYİCİLERİ: AMPİRİK BİR UYGULAMA

THE DETERMINANTS OF HOUSING SECTOR IN TURKEY: AN EMPIRICAL ANALYSIS

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Abstract (2. Language): 
The studies on housing market in the macroeconomics literature have evolved rapidly. The increased capital flows through financial globalization went into housing investments as well as other areas. This study aims to present supply and demand determinants of the housing market in Turkey using regression analysis. This study reveals that while there is a negative relationship between housing demand and GDP per capita and housing prices, a positive relationship is found between demographic factors and housing demand. The other finding is that increase in the demand for housing slows down starting from 1994. The variables in the housing supply such as per capita GDP, housing prices and increase in M2 monetary expansion, namely liquidity expansion, have a positive relationship with housing supply.
Abstract (Original Language): 
Makroekonomi literatüründe konut iktisadı ile ilgili çalışmaların sayısı gittikçe artmaktadır. Özellikle finansal küreselleşme ile birlikte artan sermaye akımlarının ilgi duyduğu alanlara konut yatırımları da eklenmiştir. Bu çalışma Türkiye konut piyasasında konut arz ve talebinin belirleyicilerini bir regresyon analizi ile ortaya koymaktadır. Buna göre kişi başına milli gelir, konut fiyatları ve faiz oranları ile konut talebi arasında pozitif yönlü bir ilişki; demografik faktörler ile konut talebi arasında ise önemsiz bir ilişki bulunmuştur. Çalışmanın bulguları 1994 yılından itibaren konut talebindeki artış oranının yavaşladığı yönündedir. Konut arzını belirleyen değişkenlerden kişi başına milli gelir, konut fiyatları ve M2 parasal büyüklüğündeki artış yani likidite genişlemesi ile konut arzı arasında pozitif yönlü bir ilişki tespit edilmiştir.
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