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The Effects of Technological Developments in the Construction Sector on the Housing Market: The Case of Ankara Province

Author

Listed:
  • Tursun, Abdurrahman

    (Ankara University)

  • Demir, Erol

    (Ankara University)

Abstract

The housing sector constitutes one of the fundamental components of the construction industry which holds a significant share within national economies. The ability to make successful housing investments is related to the thorough analysis and predictability of housing markets. Recent technological advancements in the construction sector are anticipated to lead to shorter construction completion times. In the study, the potential impact of the shortened construction completion times resulting from technological advancements in the construction sector on housing markets is investigated with a system dynamics approach. The research, limited to Ankara housing market, utilizes quantitative data such as the number of newly sold primary housing units, population and household numbers, building permit statistics, construction cost index (CCI), and domestic producer price index (D-PPI) for the period between 2013 and 2021, alongside qualitative data related to the region. According to the analysis findings, it is determined that in case construction completion times decrease to 3.5 months, fluctuations in monthly housing sales volume will occur within a narrower range. The expedited construction of housing units through evolving construction technologies suggests an alternative path towards achieving more predictable market conditions.

Suggested Citation

  • Tursun, Abdurrahman & Demir, Erol, 2024. "The Effects of Technological Developments in the Construction Sector on the Housing Market: The Case of Ankara Province," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 15(2), pages 101-127, April.
    • Handle: RePEc:ris:buecrj:0659
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    More about this item

    Keywords

    Construction Sector; Housing; Housing Market; Construction Technology; System Dynamics;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R39 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other

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