GAYRİMENKUL PİYASASINDA ETKİNLİK ve TÜRKİYE GAYRİMENKUL PİYASASI ETKİNLİK ENDEKSİ HAZIRLANMASI ÇALIŞMASI

Gökhan Şeker

doi:10.5281/zenodo.8430077

Authors

Gökhan Şeker Anatolia Danışmanlık

DOI:

https://doi.org/10.5281/zenodo.8430077

Abstract

Real estate markets are one of the most important markets in a country in terms of macroeconomic balances, with their feature of being leading markets in terms of economy and their contributions to economic growth, development and employment. The increase in the efficiency level in the real estate sector has positive effects on all macroeconomic indicators, supporting growth in the overall economy. Indices published by the CBRT and TURKSTAT regarding real estate markets in Turkey either represent only a narrow dimension of the market or cannot be used effectively because they are based on perception. In this article, "Turkish Real Estate Markets Composite Index" was prepared by using the combined indicators index preparation methodology with ten variables taken to represent these dimensions in ten dimensions that are thought to affect the general real estate markets in Turkey. The data set was prepared based on the variables used to prepare the index for the year 2010. The prepared index was compared with selected indicators (benchmarking) and its predictive power was tested for the years 2021-2022. As a result of the study, the three strongest variables affecting this index were identified. Accordingly, "mortgage loan interest rates" come first, representing the sustainable financing dimension. The variable "issue amounts of real estate-based financial instruments issued" comes second, representing the advanced financial instruments dimension. It was determined that the third place was "the number of real estate appraisers", representing the real estate appraisal dimension.

Key Words: Real Estate Market, Efficiency, Inefficiency, Real Estate Market Cycle.

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