Results found: 2

Search results

Search:
in the keywords: housing price

Sort By:

Limit search:

Linear and Nonlinear Dynamics of Housing Price in Turkey

100%

Karamelikli H.

Ekonomia. Rynek, Gospodarka, Społeczeństwo

2016

issue 46

81-98

Housing sector have an important size in economic activities of Turkey. This sector could absorb an important size of skilled and unskilled unemployed. Furthermore, decreasing rents would cause an increase in household savings because of lightening their basic expenditures. Therefore, having knowledge about the dynamics of housing prices is very crucial for economic policymakers. In this paper, the dynamics between house prices and macroeconomic variables including inflation, interest rate, unemployment and real domestic product are studied. Despite the well-known fact that macroeconomic variables possess asymmetric and nonlinear features, many studies about the dynamics of housing prices has been tested only within a linear framework. Therefore, in this paper non-linear autoregressive distributed lag (NARDL) model is used to explore asymmetrical relations in the long-run. Despite to most researches in this field, the effect of interest rate found with a negative sign. Negative effect of both nominal interest rate and inflation on housing prices alongside of greater impact of inflation in comparison with nominal interest rate, would cause the long-run coefficient of real interest rate be positive. Forethought can explain of the positive relation of the unemployment rate and housing prices.

Analysis of Current Empirical Studies on Transport Value-Added Effect and Proximate Housing Price Capture

100%

Aliyu A. A., Kemiki O. A., Bello M. U.

Path of Science

2018

vol. 4

issue 12

1001-1020

Transport infrastructure is paraphernalia that helps in curtailing urban sprawl in municipal cities and it also lessens traffic overcrowding and air effluence. It equally promotes high-density development in addition to more affordable accommodation all over developed countries. This article reviews and evaluates the range of study outcomes established by the emerging frontier of knowledge delving on the capitalization effects of transport-oriented development on real estate prices. The effect of transport system services on accommodation price has been investigated from numerous viewpoints employing several rigorous statistical tools. Based on the findings of the existing literature, there are two broad kinds of impacts that closeness to a transport system can have on the value of housing accommodations: accessibility benefits (experienced in close proximity to transit services) might increase housing values, while nuisance qualities (experienced in transit-oriented facilities) could equally have a negative outcome on apartment prices. Owing to the contradictory nature of these simultaneous effects, findings from numerous empirical investigations have been opposing or open to debate. The reviewed empirical studies provide policymakers with new-fangled empirical evidence as well as analytical tools to re-examine value capture as a financing option and to transform, modify, improve, reorganize and restructure investment strategies or opportunities for rail transit services. Property development and construction companies may perhaps be able to make a decision on where to erect real estate for profit maximization and sales. Transportation planning and urban development authorities, conversely, might be able to obtain and distribute tax income based on the ease of access benefit and nuisance effects.

Refine search results

1 Ekonomia. Rynek, Gospodarka, Społeczeństwo

1 Path of Science

1 Aliyu A. A.

1 Bello M. U.

1 Karamelikli H.

1 Kemiki O. A.

1 2018

1 2016

Search results

Linear and Nonlinear Dynamics of Housing Price in Turkey

Analysis of Current Empirical Studies on Transport Value-Added Effect and Proximate Housing Price Capture