Abstract:

Housing is a heterogeneous property with many different characteristics. These features make up the price of the housing. The aim of this study is to analyze in detail the potential effects of properties of housing for sale in the TRA1 area on housing prices. In order to this goal, various analyses have been made with the hedonic price model, which is used as horizontal cut data for the sales housing ads on their websites. In the analyses, the linear model, the semi-logarithmic model and the full-logarithmic model were used as function forms. As a result, the important indicators of housing prices in the TRA1 area were identified as the area of the housing (m2), the number of rooms and the housing in the city center. Also, variables such as the province where the housing is located, the parking lot, the east front, the floor and the number of bathrooms are also observed to have a positive impact on the housing prices. The age of the building has a negative impact on the housing prices.

Abstract:

Housing is a heterogeneous product with many different characteristics. Such properties (features) belonging to the residence constitute the price of the residence. The main of this study is to analyze the potential effects of residential properties of the houses for sale in the TRA1 region on the housing prices in detail.In order to accomplish this aim, the housing advertisements in the web sites were used as horizontal cross-sectional data and various analyzes were made with the hedonic price model. According to the analysis, the linear model, semi-logarithmic model and full logarithmic model were used as function form. As a result, the width of the residence (m2), the number of rooms and the fact that whether they are located in the city center have been identified as the most important determinants of housing prices in the TRA1 region. In addition, it is also observed that variables such as the province, parking lot within the site, eastern facade, number of floors and bathrooms positively affected the housing prices. It is also determined that the age of the building has impacts on the housing prices in the negative direction.

Keywords: