Housing Market Annual Gross Yield Modelling: A Comparison between two dynamic markets (Istanbul and Dubai)

Ali Hepsen, Olgun Aydin and Orhan Vatandas

ERES from European Real Estate Society (ERES)

Abstract: The main purpose of this study is to investigate whether there is a long-run relationship between macroeconomic indicators and residential returns for two dynamic markets (Istanbul and Dubai). This paper uses the monthly residential return data for the twelve year period from January 2003 to December 2014 provided by REIDIN. In order to identify long term equilibrium between residential returns and macroeconomic indicators, correlation analysis, impulse response analysis and kriging metamodelling are utilized for the study. The findings of this paper would help government and property investors for creating more effective property management strategies in these markets.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-07-01
New Economics Papers: this item is included in nep-ara and nep-cwa
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