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作者

Zeynep Melike Sayın;Zeynep Elburz;Hasan Engin Duran

来源

HABITAT INTERNATIONAL,Vol.130,P.102712

语言

英文

关键字

作者单位

Department of City and Regional Planning, Faculty of Architecture, Izmir Institute of Technology, Izmir, Turkey;Department of City and Regional Planning, Faculty of Architecture, Izmir Institute of Technology, Izmir, Turkey;Department of Land Surveying and Geo-Informatics, The Hong Kong Polytechnic University, Hung Hom, Hong Kong;Department of Building and Real Estate. The Hong Kong Polytechnic University, 11 Yuk Choi Rd, Hung Hom, Kowloon, Hong Kong;College of Architecture and Urban Planning, Chongqing Jiaotong University, No.66 Xuefu Road, Nan'an District, Chongqing, 400074, China;WISSENSARCHITEKTUR-Laboratory of Knowledge Architecture, Faculty of Architecture, TU Dresden, Zellescher Weg 17, BZW-B 009, 01069, Dresden, Germany;School of Economics and Finance, Massey University, Private Bag 11222, Palmerston North, 4442, New Zealand;Department of Estate Management, Kumasi Technical University, Box 854, Kumasi, Ghana;Urban Policy Laboratory, Department of Public Policy, School of Social and Policy Studies Gerson H Gordon Faculty of Social Sciences, Tel-Aviv University, Tel-Aviv, Israel;Vietnam- ASEAN Construction and Investment Joint Stock Company, Vietnam;School of Geography and Planning, Cardiff University, Cardiff, CF10 3WA, UK

摘要

The vast majority of the studies on house price dynamics focus on either structural/locational/demographic variables in a cross-sectional setting (i.e., hedonic price modeling) or on the impact of macroeconomic fundamentals in a time series framework. In this work, we argue that both approaches fall short of providing adequate information as cross-sectional analyses largely ignore the macro-dynamics, whereas time series approaches fail to incorporate the cross-sectional dimension. Current work combines both dimensions in a panel framework and provides, in this way, a methodological contribution as well as more informative analyses as it captures the impact of a wide array of variables. Thus, this study examines the housing prices in Izmir/Turkey by adopting the above-mentioned dimensions with both panel and spatial panel regressions. The study area consists of 212 neighborhoods located in different districts of Izmir. The period of analysis covers 30 months between 2017 and 2019. As an outcome of the empirical analyses, both structural/demographic, and macroeconomic variables were found evidently important. Hence, it is understood that all dimensions (structural/locational/demographic, macroeconomic) should be incorporated into comprehensive modeling. A high spatial dependence and positive spatial spillover effects were also detected.