Master Degree / Yüksek Lisans Tezleri
Permanent URI for this collectionhttps://hdl.handle.net/11147/3008
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Master Thesis Hedonic Price Modelling in Turkish Real Estate Markets: the Case of Bayraklı, Izmir(Izmir Institute of Technology, 2019) Akçay, Nilay; Duran, Hasan EnginHousing markets are often recognized as heterogenous structures that varies across spatial units and time. The determinants of house prices have been increasingly analzed recently in the literature, but, mostly in a linear setting, in almost all studies. Purpose of the current study is to investigate the micro-determinants of house prices in Adalet and Mansuroğlu Neighborhoods located in Bayraklı District of İzmir Province by using both linear Hedonic and nonlinear methods. In total, 278 apartments are analyzed. The data is collected in a period November 2018 - March 2019. The semi-logarithmic linear and non-parametric nonlinear forms were used as a functional form in order to analyze the significance of physical and environmental characteristics of the apartments. As a result, nonlinearity is found as weakly evident which fails to alter the results obtained from linear method. In terms of determinants, structural carachteristics (i.e. size, rooms and age of the building) are found as more significant determinants than locational caractheristics (i.e. distance from CBD).