Real Estate Investment Funds, Investment Options, and the Requirements of Islamic Funds in Türkiye

Gülnaz Şengül Güneş (), Monsurat Ayojimi Salami () and Erol Demir ()
Additional contact information
Gülnaz Şengül Güneş: Ankara University, Department of Real Estate Development and Management, Faculty of Applied Sciences
Monsurat Ayojimi Salami: Ankara University, Department of Real Estate Development and Management, Faculty of Applied Sciences
Erol Demir: Ankara University, Department of Real Estate Development and Management, Faculty of Applied Sciences

A chapter in Understanding Türkiye’s Real Estate Markets, 2026, pp 313-332 from Springer

Abstract: Abstract This chapter examines real estate investment funds (REIFs) as the investment options available for Islamic funds in Türkiye. Quarterly and long-term net asset value (NAV) data were obtained to analyse the correlation and long-term relationships between several variables. A generalised method of moments (GMM) model is employed to estimate a dynamic panel regression. Furthermore, the information gathered on Türkiye REIFs (T-REIFs) has enabled the categorisation of T-REIF companies into three broad investment options: conventional REIFs, full-fledged Islamic REIFs, and hybrid T-REIF windows, in which investors in T-REIFs can invest. The findings indicate that not all T-REIFs have made substantial investments in the real estate sectors. Additionally, the portfolio diversification of these T-REIFs is markedly different from that of other T-REIFs. Some T-REIFs have experienced a sudden price increase, while others have appreciated only gradually. The findings also show that lagged T-REIF prices, time deposits, public debt instruments, and investments in various sectors have a significant impact on current price movements in T-REIFs (Islamic T-REIFs). However, real estate investment (REI) did not significantly predict price movements in T-IREIFs. In contrast, REI and time deposits exert a significant impact on price movements in conventional T-REIFs (T-CREIFs). Future event studies, along with improved data, are recommended.

Keywords: Turkish Real Estate Investment Funds (T-REIFs); Turkish Conventional REIFs (T-CREIFs); Turkish full-fledged Islamic REIFs (full-fledged T-IREIFs); Hybrid T-REIFs Windows (T-CREIFs and T-IREIFs) (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-032-13297-0_16

Ordering information: This item can be ordered from
http://www.springer.com/9783032132970

DOI: 10.1007/978-3-032-13297-0_16

Access Statistics for this chapter

More chapters in Management for Professionals from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().