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Analysis of Determinants of House Prices Using Hedonic Price Model: The Case of TR 71 Region

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  • Arif Ä°ÄžDELÄ°

Abstract

The aim of this research is to analyze the determinants of house prices in the TR71 region by hedonic model. Least squares estimator is used in the analysis of hedonic house price model, which is built on a semi-logarithmic form. According to analysis findings, house size, room number, floor number of the house, floor number of the building and bathroom number affect the house prices positively, while the age of building affects house prices negatively. In addition, the analysis findings point out that the house of the house from the real estate agent instead of the owner has a negative effect on the house prices. Moreover analysis findings, show the fact that the house is located in Aksaray, Kırşehir and Nevşehir instead of Niğde have a positive effect on house prices. Also analysis findings reveal that spatial factors have more pronounced effects on the house prices than the physical properties of the house. A significant effect of the combi boiler, heater, stove and floor heating system on house prices is not detected in the analysis findings. Finally, the analysis findings indicate that the fact that the house is located within site does not have a significant effect on house prices.

Suggested Citation

  • Arif Ä°ÄžDELÄ°, 2021. "Analysis of Determinants of House Prices Using Hedonic Price Model: The Case of TR 71 Region," Fiscaoeconomia, Tubitak Ulakbim JournalPark (Dergipark), issue 2.
    • Handle: RePEc:fis:journl:210214
    DOI: 10.25295/fsecon.895779
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    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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