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Identification of Wealthy Households from the Residential Property Price Index Database for Sample Selection for Household Surveys

Author

Listed:
  • Evren Ceritoglu
  • Ozlem Sevinc

Abstract

This paper aims to identify wealthy households in Turkey for sample selection for household surveys. In the absence of income and wealth tax data, we analyze house prices from the Residential Property Price Index (RPPI), which is constructed by the Central Bank of the Republic of Turkey (CBRT) from dwelling appraisal reports to monitor price movements. RPPI is announced monthly by the CBRT for Turkey and 26 geographical regions at NUTS2 level since 2012, but data actually starts from January 2010. The RPPI database comprises more appraisal observations from Istanbul and western provinces, where house prices are significantly higher than country average. However, the number of appraisal observations is low for the Eastern provinces, since the number of house sales is limited in poor and small provinces. Moreover, the percentage of mortgaged house sales is even lower in these regions, whereas the RPPI database is based on dwelling appraisal reports on house sales, which are subject to mortgage loans.

Suggested Citation

  • Evren Ceritoglu & Ozlem Sevinc, 2020. "Identification of Wealthy Households from the Residential Property Price Index Database for Sample Selection for Household Surveys," Working Papers 2010, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:wpaper:2010
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    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Research/Working+Paperss/2020/20-10
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    More about this item

    Keywords

    Unit house prices; Wealthy households; Panel data; Sampling design; Oversampling;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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