CAN INVESTMENT IN HOUSING BE AN ECONOMIC ILLUSION? A REVIEW FROM THE PERSPECTIVE OF SOCIAL JUSTICE: THE EXAMPLE OF TÜRKİYE

Authors : Rıdvan Karacan, Ali Kerem Karacan

Pages : 190-224

Doi:10.37991/sosdus.1528008

View : 39 | Download : 22

Publication Date : 2025-06-30

Article Type : Research Paper

Abstract :In recent years, housing prices and rents in Turkey have surged beyond global and European standards, with a significant increase in construction targeting upper-income groups and foreign buyers rather than those in need. Despite this trend, there is a notable lack of literature documenting whether investments in housing drive these high prices and rent increases. This study addresses this gap by investigating whether housing purchases qualify as investments. Utilizing Granger cointegration analysis and the Toda-Yamamoto causality test, we examine the relationship between housing purchases and gross domestic product (GDP) in Turkey. The empirical analysis reveals no long-term cointegration or causal relationships between these variables. Our findings suggest that housing purchases do not qualify as traditional investments. These insights provide a basis for mitigating the adverse effects of housing investments in Turkey.
Keywords : Konut Yatırımı, GSYH, Sosyal Adalet, Türkiye

ORIGINAL ARTICLE URL