APPLICATION OF REPEAT SALES METHODOLOGY ON TURKISH REAL ESTAT

Abstract

The study examined the application of repeat sales methodology on real estate in Turkey. Secondary data were used in this study which span from 2010M1 to 2018M11. The monthly data were extracted and sourced from the statistical page of Turkish data. Descriptive and regression analyses were used as the estimation techniques.The findings from the analysis revealed that the independent variables have negative sign that is house price index is negative at constant with 7.886041 coefficient. This means that, at constant there is a negative but significant effect of HHPI, NHPI and EHPI on house price index in Turkey during the study period. The study concluded that that new house price index had a positive and significant effect on house price index in Turkey. It also concluded that hedonic house price index had a positive effect but it is not significant during the study period. Furthermore, it was concluded that existing house price index revealed a positive and significance effect on house price index in Turkey