Analysis of the factors affecting housing value

There are many factors affecting house prices. During inflationary periods, the increase in costs is reflected in construction costs and increases housing prices. In addition, as rising interest rates increase the cost of credit and monthly installment payments, the number of house buyers is quite low. When interest rates fall, house prices can suddenly be raised for no reason. As housing prices rise, it becomes more difficult to buy a house. Based on this issue, this study aims to investigate the factors affecting the house price. In the study, micro factors affecting housing value are identified. The research was carried out in Samsun, the most developed province in the Black Sea Region. Data on 5,987 1+1, 2+1, 3+1 and 4+1 houses for sale were obtained from a website where housing advertisements were posted at the national level. A model was constructed with 22 variables identified to have an impact on house prices. The data obtained was analyzed with the Generalized Linear Model using the Hedonic price model. Additionally, whether there was a significant difference between housing prices and housing features was examined using ANOVA and t-test. Square meter size of the house, the floor where the house is located, the number of floors in the building, the number of bathrooms in the house, the neighborhood and district where the house is located, the number of rooms in the house, the dues amount of the house, the age of the building, the heating system of the house, the status of the house in the site, the title deed type of the house, the seller of the house, It has been determined that the proximity of the house to transportation and the view of the house positively affect house prices. It was determined that the variables of having a balcony in the house, the usage status of the house, the credit suitability of the house, the facade of the house, the neighborhood of the house and the type of house were found to be insignificant in the model.