Homeownership, Housing Demand, and Household Wealth Distribution in Turkey

Evren Ceritoğlu

Emerging Markets Finance and Trade, 2020, vol. 56, issue 5, 1146-1165

Abstract: This article analyzes housing market developments in Turkey over the past two decades. In particular, we estimate the permanent income elasticity, price elasticity, and interest rate elasticity of housing demand. We use 14 consecutive waves of the Turkish Statistical Institute (TURKSTAT) Household Budget Surveys (HBS) from 2003 to 2016. We find that the permanent income elasticity of housing demand is statistically significant at 26% in our restricted sample. However, we find that both the price elasticity and interest rate elasticity are not statistically significant. Therefore, our empirical analysis confirms that income is the main determinant of homeownership and housing wealth.

Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/1540496X.2018.1555461 (text/html)
Access to full text is restricted to subscribers.

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:mes:emfitr:v:56:y:2020:i:5:p:1146-1165

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

DOI: 10.1080/1540496X.2018.1555461

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().