Exuberant behaviour in the Istanbul housing market before and during the time of the COVID-19 pandemic: evidence from the aggregate and disaggregate levels

Lokman Gunduz; Sumeyye Busra Tekin; Merve Ozer; Ismail H. Genc

doi:10.1080/13504851.2023.2278592

Exuberant behaviour in the Istanbul housing market before and during the time of the COVID-19 pandemic: evidence from the aggregate and disaggregate levels

Lokman Gunduz
, Sumeyye Busra Tekin
, Merve Ozer
, Ismail H. Genc^*

^*Bu çalışma için yazışmadan sorumlu yazar

Araştırma sonucu: Dergiye katkı › Makale › bilirkişi

1 Atıf (Scopus)

Özet

We study mildly explosive behaviour in house prices in Istanbul at both aggregate and disaggregate levels via GSADF tests. In contrast to previous studies, our results suggest multiple episodes of price exuberance in Istanbul and most districts. Most boroughs synchronically experienced explosive house prices in 2014–2015; and more powerfully during the last episodes of COVID-19. We also show that financial variables, including low mortgage interest rates and high stock prices, increased the probability of explosiveness.

Orijinal dil	İngilizce
Sayfa (başlangıç-bitiş)	619-623
Sayfa sayısı	5
Dergi	Applied Economics Letters
Hacim	32
Basın numarası	5
DOI'lar	https://doi.org/10.1080/13504851.2023.2278592
Yayın durumu	Yayınlandı - 2025
Harici olarak yayınlandı	Evet

Bibliyografik not

Publisher Copyright:
© 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

BM SKH

Bu sonuç, aşağıdaki Sürdürülebilir Kalkınma Hedefine/Hedeflerine katkıda bulunur

SKH 11 Sürdürülebilir Şehirler ve Topluluklar

Belgeye Erişim

10.1080/13504851.2023.2278592

Diğer Dosyalar ve Linkler

Link to publication in Scopus

Alıntı Yap

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title = "Exuberant behaviour in the Istanbul housing market before and during the time of the COVID-19 pandemic: evidence from the aggregate and disaggregate levels",

abstract = "We study mildly explosive behaviour in house prices in Istanbul at both aggregate and disaggregate levels via GSADF tests. In contrast to previous studies, our results suggest multiple episodes of price exuberance in Istanbul and most districts. Most boroughs synchronically experienced explosive house prices in 2014–2015; and more powerfully during the last episodes of COVID-19. We also show that financial variables, including low mortgage interest rates and high stock prices, increased the probability of explosiveness.",

keywords = "COVID-19, Exuberance, GSADF test, Istanbul, house prices",

author = "Lokman Gunduz and Tekin, \{Sumeyye Busra\} and Merve Ozer and Genc, \{Ismail H.\}",

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doi = "10.1080/13504851.2023.2278592",

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T1 - Exuberant behaviour in the Istanbul housing market before and during the time of the COVID-19 pandemic

T2 - evidence from the aggregate and disaggregate levels

AU - Gunduz, Lokman

AU - Tekin, Sumeyye Busra

AU - Ozer, Merve

AU - Genc, Ismail H.

PY - 2025

Y1 - 2025

N2 - We study mildly explosive behaviour in house prices in Istanbul at both aggregate and disaggregate levels via GSADF tests. In contrast to previous studies, our results suggest multiple episodes of price exuberance in Istanbul and most districts. Most boroughs synchronically experienced explosive house prices in 2014–2015; and more powerfully during the last episodes of COVID-19. We also show that financial variables, including low mortgage interest rates and high stock prices, increased the probability of explosiveness.

AB - We study mildly explosive behaviour in house prices in Istanbul at both aggregate and disaggregate levels via GSADF tests. In contrast to previous studies, our results suggest multiple episodes of price exuberance in Istanbul and most districts. Most boroughs synchronically experienced explosive house prices in 2014–2015; and more powerfully during the last episodes of COVID-19. We also show that financial variables, including low mortgage interest rates and high stock prices, increased the probability of explosiveness.

KW - COVID-19

KW - Exuberance

KW - GSADF test

KW - Istanbul

KW - house prices

UR - https://www.scopus.com/pages/publications/105001949247

U2 - 10.1080/13504851.2023.2278592

DO - 10.1080/13504851.2023.2278592

M3 - Article

AN - SCOPUS:105001949247

SN - 1350-4851

VL - 32

SP - 619

EP - 623

JO - Applied Economics Letters

JF - Applied Economics Letters

IS - 5

ER -

Exuberant behaviour in the Istanbul housing market before and during the time of the COVID-19 pandemic: evidence from the aggregate and disaggregate levels

Özet

Bibliyografik not

BM SKH

Belgeye Erişim

Diğer Dosyalar ve Linkler

Parmak izi

Alıntı Yap