Exploring the determinants of housing price bubbles in the Turkish economy: a COVID-related framework

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dc.contributor.authorDoruk, Omer Tugsal
dc.date.accessioned2025-01-06T17:44:04Z
dc.date.available2025-01-06T17:44:04Z
dc.date.issued2024
dc.description.abstractPurposeThis study aims to explore a novel framework for housing price bubbles in the Turkish economy during the pandemic. It examines the probability of housing bubble formation relative to the pre-pandemic period and identifies possible determinants of housing bubbles in the Turkish economy.Design/methodology/approachIn this study, a two-stage novel estimation method is applied. In the first stage, bubble periods are identified through the right-tailed supremum augmented Dickey-Fuller test. In the second stage, the determinants of these bubbles are identified, and the housing bubble determinants during the COVID-19 pandemic are compared to the pre-pandemic period.FindingsThe findings indicate that there is an asset price bubble in the housing market during the pandemic period. Furthermore, mortgage credit expansion, mortgage credit rates and the depreciation of the Turkish Lira against the USD could increase housing bubble formation. However, housing sector sales to foreign investors do not contribute to housing bubble formation during the pandemic in the Turkish housing market.Originality/valueTo the best of the author's knowledge, this is the first study to address the relative determinants of housing bubbles in an emerging market context during the pandemic.
dc.identifier.doi10.1108/IJHMA-05-2024-0073
dc.identifier.issn1753-8270
dc.identifier.issn1753-8289
dc.identifier.scopus2-s2.0-85201829510
dc.identifier.scopusqualityQ2
dc.identifier.urihttps://doi.org/10.1108/IJHMA-05-2024-0073
dc.identifier.urihttps://hdl.handle.net/20.500.14669/2912
dc.identifier.wosWOS:001296573700001
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherEmerald Group Publishing Ltd
dc.relation.ispartofInternational Journal of Housing Markets and Analysis
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_20241211
dc.subjectPrice bubbles
dc.subjectHousing market
dc.subjectTurkish economy
dc.subjectCOVID-19
dc.subjectG00
dc.subjectR30
dc.titleExploring the determinants of housing price bubbles in the Turkish economy: a COVID-related framework
dc.typeArticle

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