IDEAS home Printed from https://ideas.repec.org/p/arz/wpaper/eres2023_305.html
   My bibliography  Save this paper

Comparative Analysis of Real Housing Values And Virtual Land Prices in Istanbul

Author

Listed:
  • Yadigâr Gökçe imek
  • Serhat Basdogan
  • Ilir Nase

Abstract

Virtual real estate investments are becoming an increasingly important investment instrument in terms of investing in virtual land assets in the Metaverse. In addition, when investment decisions in the Metaverse are analysed, it is observed that there are highly similar market movements with the real world. This situation can provide insight into real-world prediction when using traditional methods such as multiple linear regression (MLR) on very large databases. This paper analyses the correlation between the two worlds by obtaining statistical results using data mining algorithms.Purpose of the study is to identify the potential high-yielding ones among Istanbul neighborhoods with analyzes made for virtual lands, which are seen as a virtual real estate investment instrument, and to determine the relationship between them by comparative analysis of virtual land values and real estate values. In this context, Metaverse platform (overthereality.ai) where the world map is divided into virtual lands, was accessed with open access software to get the data of virtual lands traded in primary and secondary markets within the borders of Istanbul. At the same time, square meters prices data of residential units for sale were also accessed from the real estate site (sahibinden.com) with the highest sales volume in Turkey, and these data were converted into land values and statistically analyzed, together with virtual land values, specifically for Istanbul neighborhoods.

Suggested Citation

  • Yadigâr Gökçe imek & Serhat Basdogan & Ilir Nase, 2023. "Comparative Analysis of Real Housing Values And Virtual Land Prices in Istanbul," ERES eres2023_305, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2023_305
    as

    Download full text from publisher

    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2023-305
    Download Restriction: no
    File URL: https://eres.architexturez.net/system/files/P_20230330220806_9448.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Correlation Analysis; land valuation; Virtual Land; Virtual Real Estate;
    All these keywords.

    JEL classification:

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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arz:wpaper:eres2023_305. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/eressea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.