Homeownership, Housing Demand, and Household Wealth Distribution in Turkey

Ceritoğlu, Evren

doi:10.1080/1540496x.2018.1555461

Cited by 11 publications

(12 citation statements)

References 22 publications

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“…The primary goal of this paper was to examine the nature of income‐based disparities in housing outcomes in Turkey in order to see where middle‐income households fall, particularly relative to affluent households. Given the significant growth in newly constructed housing, increase in the middle‐class segment of the population, and increasing inequality in wealth in Turkish society (Ceritoglu 2019; The World Bank 2014; Torul and Oztunali 2018; Turel and Koc 2015), it is imperative to understand the housing attainment of middle‐income households. To fulfill this main goal, the analysis focused on completing three objectives.…”

Section: Discussionmentioning

confidence: 99%

“…Given the increases in the middle‐class segment of the Turkish population, the significant growth in newly constructed housing, and the fact that housing is a main source of wealth for Turks (Ceritoglu 2019), it is surprising that little research, to our knowledge, has explicitly examined the housing outcomes of middle‐income households, relative to their lower‐ and upper‐income counterparts, in this society. The very limited research on this topic focuses on homeownership by income groups.…”

Section: Introductionmentioning

confidence: 99%

“…However, this study is descriptive in nature. Another study examines whether housing income is a key determinant of homeownership, second homeownership, and housing debt, controlling for other relevant factors, but the focus is not explicitly on middle-income households (Ceritoglu 2019). This latter study finds that higher-income groups are significantly more likely to own their homes, own second homes, and have housing debt than the lowest-income group.…”

Section: Introductionmentioning

confidence: 99%

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Housing Outcomes in Turkey: How Do Middle–Income Households Fare?

2020

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Despite the doubling in size of the middle class and the significant housing increase in Turkey, little research has examined housing outcomes of middleincome households, particularly relative to affluent households. The housing increase and 2007 Mortgage Law could have reduced housing differences between middle-income and affluent households, but the rise in gated communities could have increased these differences. Using data from Turkey's 2012 Household and Budget Survey, we find that middle-income households are significantly less likely than affluent households to own their homes and live in larger homes, and among owner-occupiers, in homes of higher value. Less pronounced differences are found in their residence in newer homes. Fewer differences in housing outcomes exist between middle-and lower-income households, particularly among owner-occupiers. These results suggest that the most affluent households, rather than the poorest households, are likely isolating themselves from other households, thereby affecting the future well-being of middle-income households.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Housing Outcomes in Turkey: How Do Middle–Income Households Fare?

2020

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“…Following that, the percentage of households live in rented houses has increased with the effect of urbanization and it led to an increase in rents. Ceritoglu (2017) showed through HBS data that home ownership decreased by 6 percent between 2003 and 2014 despite the rise in income per capita: currently, the home ownership rate is around 60 percent in Turkey as stated in TURKSTAT (2013). A possible reason of decline in the budget share of housing for all quantiles after 2008 can be explained by increasing availability of new apartments in urban areas.…”

Section: Neoliberalization and Finance Of The Household Budgetmentioning

confidence: 99%

Economic crisis and consumption: an almost ideal demand system estimation for Turkey with time-varying parameters

Türkmen-Ceylan

2019

Development Studies Research

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This paper proposes an alternative approach for analyzing the impacts of economic crises on consumption demand patterns in the absence of household consumption or price data. To do so, an Almost Ideal Demand System (AIDS) which incorporates time dummies corresponding to the periods of economic crises is estimated by using Turkish household final consumption data derived from national accounts. All findings are plausible and coherent with the theoretical framework and show that the crises significantly affect consumption demand patterns in Turkey. The study also reveals tax cuts of 2009 were designed on the basis of economic efficiency, although they were shown to be regressive by Albayrak ([2011.

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“…According to Ceritoğlu (2020), the downward trend in interest rates, which increased in developed countries after the global financial crisis, contributed to the housing boom. Öztürk and Fitöz (2009) showed in their study that there is a linear relationship between housing demand and interest rates.…”

Section: Effect Of Deposit Interest Ratementioning

confidence: 99%

Analysis of Factors Affecting Housing Sales in Turkey

Çolak¹

2021

Journal of Yaşar University

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Studies on housing in the field of macroeconomics have increased in recent years. Factors affecting housing sales in Turkey were investigated in this study.After the 2008 global financial crisis on the exchange rate in Turkey, the consumer price index (CPI), deposit interest rate, index of industrial production and the impact on home sales of relations between the employment rate was examined in this study, in the period between 2013 to 2019 years of real estate sales volume in Turkey It is aimed to reveal the causality relationships between and the factors affecting the sales amounts. As a result of the Johansen cointegration and Granger causality tests for the period of January 2013 to December 2013; a cointegration in other words long relationship among housing sales index and Dollar/TL exchange rate, deposit rates, industrial production index was found. In addition a bidirectional casuality runs between housing sales index and industrial production index while a unidirectional casuality runs from deposit rates and CPI to housing sales index, also from housing sales index to employment.

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Homeownership, Housing Demand, and Household Wealth Distribution in Turkey

Cited by 11 publications

References 22 publications

Housing Outcomes in Turkey: How Do Middle–Income Households Fare?

Housing Outcomes in Turkey: How Do Middle–Income Households Fare?

Economic crisis and consumption: an almost ideal demand system estimation for Turkey with time-varying parameters

Analysis of Factors Affecting Housing Sales in Turkey

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