Türkiye'de Tüketici Fiyatları ile Hedonik Konut Fiyatları Arasındaki İlişki: Panel Veri Analizi.

Fluctuations in housing prices have a significant effect on economic dynamics. In this context, the determination of micro and macroeconomic variables affecting housing prices is an important issue. The aim of this study is to test the short-run and the long-run dynamic relationship between the hedonic house prices and the consumer prices in Turkey based on 26 regions for the period 2010:01-2018:02. According to the empirical findings, there is a co-integration relationship between the hedonic house price index and the consumer price index. In addition, consumer prices affect the hedonic housing prices in both short-run and long-run. In the long-run, a 10% increase in the consumer price index increases the hedonic price index by approximately 8.5%. The error-correction term confirms the long-run equilibrium relationship between variables. [ABSTRACT FROM AUTHOR]