Investigating the parameters that affect housing prices in Turkey


Tosun H. M. , Temel B. A. , Başağa H. B.

International Civil Engineering & Architecture Conference, Trabzon, Turkey, 17 - 20 April 2019, pp.13-22

  • Publication Type: Conference Paper / Full Text
  • City: Trabzon
  • Country: Turkey
  • Page Numbers: pp.13-22

Abstract

The real estate market has an important place in the world economy. Especially in recent years with the

development of the construction sector in Turkey, this market has been a large share of Turkish economy. Among

the real estates, houses have become more prominent. Accurate evaluation of real estates is an important issue in

terms of protecting investors and customers. The purpose of real estate evaluation is the search for real value based

on objective criteria and data. In determining the price of a house, which is also considered as an economic

investment instrument, there are many parameters affecting the price change in addition to the structural

characteristics of the house. Some of those can be listed as the location of the house, what floor it is located on,

whether it has a view, its proximity to the transportation facilities, the estimated annual rental income, the

characteristics of the settlement etc. In this study, the determinants that affect the price of housing are stated in

order to obtain the true value of houses in Turkey. For this purpose, the researches on housing valuation in Turkey

have been evaluated and the basic parameters affecting house prices have been determined. According to the

obtained results, the most important parameters that affect the housing price are the size of the house, the floor of

the house, the age of the building, the number of rooms, the number of bathrooms, parking lot / garage, the location

of the house, the distance from the city center and the elevator in the building.