The Effect of Macroeconomic Factors Affecting Housing Demand On Housing Sales In Turkey: Time Series Analysis
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Housing has become an indispensable element in human life. The concept of 'housing,' a fundamental component of the basic need for shelter, has evolved from being a term solely related to the need for shelter to also serving as an indicator reflecting the social and economic status of individuals, coinciding with the transition to the information age driven by technological and communicative advancements. It has transformed into a core place where individuals can engage in cultural activities and feel secure. That's why caves, which were originally used only for shelter and protection in prehistoric times, have become a legally protected cultural heritage for modern, contemporary humans. With advancing technology, the quantity of offered housing has shown a rapid increase, and as a result, the housing sector has become one of the cornerstone sectors determining the Turkish economy. In this context, it is crucial to accurately determine housing supply and demand, and stakeholders in the housing sector need to conduct thorough financial analyses during this process. This study will delve into the factors influencing housing demand. The dataset used in this study covers the period from 2007 to 2023. The selection of these time intervals is particularly influenced by the Mortgage Crisis that occurred in 2007, which had a significant impact on the entire world. The analysis of this study will be conducted using the econometric analysis program Gretel Lab Cloud Student Version. |
