Determinants of house prices in Istanbul: a quantile regression approach

Determinants of house prices in Istanbul: a quantile regression approach 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

Determinants of house prices in Istanbul: a quantile regression approach

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Publisher
Springer Journals
Copyright
Copyright © 2009 by Springer Science+Business Media B.V.
Subject
Social Sciences; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1007/s11135-009-9296-x
Publisher site
See Article on Publisher Site

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.

Journal

Quality & QuantitySpringer Journals

Published: Dec 20, 2009

References

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