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Macroeconomic Change, Housing Affordability and Public Policies: The Case of Turkey

Author

Listed:
  • Yener Coskun
  • Craig Watkins

Abstract

Notions of housing affordability concept are at the heart of debates about access to home ownership, housing finance and social policies globally. The existing housing affordability literature mostly focuses mainly on developed countries. Housing affordability problem in emerging countries are starting to attract increasing attention. This paper seeks to contribute to this emergent literature by analysing housing affordability in Turkey. The paper explores market trends, the nature of the affordability problem and makes some tentative policy suggestions. The paper develops a theoretically informed model to assess affordability using data from 2005 to 2012 on house price to income ratios, the housing affordability index of Turkey (HAIT), and a variety of social and economic indicators. The Turkish results are contrasted with similar measures for other countries.

Suggested Citation

  • Yener Coskun & Craig Watkins, 2013. "Macroeconomic Change, Housing Affordability and Public Policies: The Case of Turkey," ERES eres2013_12, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2013_12
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2013-12
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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