Identification of Wealthy Households from the Residential Property Price Index Database for Sample Selection for Household Surveys

Evren Ceritoğlu and Ozlem Sevinc

Working Papers from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: This paper aims to identify wealthy households in Turkey for sample selection for household surveys. In the absence of income and wealth tax data, we analyze house prices from the Residential Property Price Index (RPPI), which is constructed by the Central Bank of the Republic of Turkey (CBRT) from dwelling appraisal reports to monitor price movements. RPPI is announced monthly by the CBRT for Turkey and 26 geographical regions at NUTS2 level since 2012, but data actually starts from January 2010. The RPPI database comprises more appraisal observations from Istanbul and western provinces, where house prices are significantly higher than country average. However, the number of appraisal observations is low for the Eastern provinces, since the number of house sales is limited in poor and small provinces. Moreover, the percentage of mortgaged house sales is even lower in these regions, whereas the RPPI database is based on dwelling appraisal reports on house sales, which are subject to mortgage loans.

Keywords: Unit house prices; Wealthy households; Panel data; Sampling design; Oversampling (search for similar items in EconPapers)
JEL-codes: C33 C83 R21 R31 R32 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-ara and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:wpaper:2010

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