Housing price studies is the first step of housing market analysis. Prices are determined at the
intersection point of supply and demand curves, which determine equilibrium point that
represents equilibrium price and quantity level. At a point in time demand factors are more
important in determining the prices because short-run supply curve is almost vertical.
However, in the long run supply of housing, and its certain attributes, will increase if price
premium arises in the previous periods.
In most of the studies, house prices are analyzed by using hedonic price index technique,
which enables us to have information about the demand side of housing sector. In the hedonic
price framework, heterogeneous goods are considered as aggregations of characteristics, and
implicit marginal prices for these characteristics are calculated. When &lsquo / Hedonic Price
Analysis&rsquo / is applied to the housing sector, it shows us the price of each housing attribute and
gives information about the preferences and willingness to pay of the people for each
attribute. Therefore, at the end of such an analysis it is possible to see which attributes are
valued most by house buyers in the city.
The aim of this thesis is to reveal the implicit prices of housing attributes in the housing
market of Ankara, for the year 2006, with the purpose of gaining more information about the
demand side of the housing sector. For this purpose, hedonic pricing method is used with the
data that are extracted from appraisal reports which include information about main attributes
and estimated price of each dwelling unit.
| Identifer | oai:union.ndltd.org:METU/oai:etd.lib.metu.edu.tr:http://etd.lib.metu.edu.tr/upload/12608958/index.pdf |
| Date | 01 May 2007 |
| Creators | Karagol, Tuba |
| Contributors | Turel, Ali |
| Publisher | METU |
| Source Sets | Middle East Technical Univ. |
| Language | English |
| Detected Language | English |
| Type | M.S. Thesis |
| Format | text/pdf |
| Rights | To liberate the content for public access |
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