Supply-demand analysis method (SDAM) application in residential projects: Case of Istanbul boroughs

Nowadays, and especially in our country, construction has become a locomotive sector. It is also one of the most valid investment instruments. The sector, which has maintained its appeal up to now, has entered a period of stagnation with increasing supply and diversity. This necessitated the need for on-point investments to be made. It is possible with realistic analysis that projects that spend a lot of money and time can be successful. In today's contracting concept, the position and concept of the projects are generally instinctively decided. As a result, unsuccessful projects are emerging. Especially for housing projects, the supply in the region, the type of product demanded and the target market must be analyzed. Demand-supply analysis has great importance in the process of developing the project. In this study, a supply-demand analysis method based on statistical data and market researches was developed and applied to 3 different regions of Istanbul. This method is intended to support the housing projects in the decision phase. One of the basic elements that make up the cities is the houses. These dwellings are located in our lives as places where every change that affects people reflects. When we look at the historical process, the housing that has been uncovered in order to meet the need for housing has begun to have different meanings and tasks over the years. These changing meanings and tasks have begun to change the housing problem over the years. The existence of different identities in the society also diversifies the expectations about the housing. The housing market, which is trying to realize these expectations, has consistently introduced new housing presentation projects. It is an important question that the housing projects that are produced in various ways according to each taste actually meet the need of housing. The other question is whether there is a real need for this constant residential production. Or, who are the main customers of these housing projects? The supply of housing for lower income groups in Turkey is known to be a major problem. At present, access to housing by the lower income group is a major problem and government policies are inadequate. The residential housing market in Turkey and in need of housing projects that shape the needs of lower-middle-income group is not, are the wishes of the higher income groups. Sheltering in Turkey required by the urbanization and settlement problems of people who tried to make themselves contrary to the slums by building structures and construction requirements. In recent years, a new process has begun with the mortgage loans extended to the banks as a result of relative stability in the economy and low interest rates. However, along with the global financial crisis, new measures have been taken in housing financing and in the mortgage loan system provided by banks. The system is constantly monitored and the developments are closely monitored in order to ensure that banks and borrowers do not fall behind in the practice of mortgaged home loans. In Turkey, the real estate development and finance in recent years is giving more weight to recent studies and investigations are generally contented with making the secondary data. However, individual and institutional investors have projects to establish real estate acquisitions and financial firms' relationships, and in particular to attract credit for housing and other real estate investments by different segments of society and to build new product type development work that fits the needs of investors. Housing, which is sometimes seen as a consumer goods and sometimes as an investment property by households, meets the need for housing, which is one of the basic necessities of people with its general framework. The supply and demand of the housing is changing and developing over time, depending on the economic, social, cultural, geographical and demographic realities of the countries. Housing compensation is linked to housing policies and economic conditions. Speculative expectations are more often encountered with housing demand for investment purposes, especially in urban areas where high demand and rapid price increases are experienced. Supply and demand elements vary according to the type of housing demand that can emerge in different purposes and forms such as consumption, investment and accumulation of wealth. With housing security, which needs to be welcomed; water, electricity, sewerage and communication are provided, heat, light and ventilation are adequate and people have an environment that allows them to use their rights such as work, health, education and the environment. In these preferences, household size has a key role. The increase in diversity and qualities in residential unit types brings with it the problem of financing and the main axis of this is the "housing market". The success of residential projects is directly proportional to the position of other real estate projects. For this reason, determining the correct position is of great importance. The main parameter when determining location is that the project will be in demand in the region. Because the demand for the project is high, it is possible to increase the sales prices and to sell more areas in a shorter time. This situation also increases the profitability of the plant. However, the lack of demand for the project makes it difficult to reach the planned sales prices and the risk of prolonging the sales period. A healthy supply-demand analysis is needed to minimize this risk. Demographic characteristics (age, sex, etc.), income, qualifications of the house, new household formation, primary secondary housing demand, investment residential demand, purchasing rental housing demand and so on. can be analyzed from a wide variety of angles. Housing requests can also be examined in sub-classes such as primary housing and vacation housing. It is possible to analyze the housing claim for ownership first, in terms of income. In this frame, those who actively seek housing at a certain time; newly formed households and a part of the existing households. The sector that demands housing for renting or buying and has the means to meet this demand represents effective demand. On the other hand, the demand of the people who do not have enough facilities when they want to buy or rent the house is expressed as repressed demand. Therefore, it is possible that the demand for housing can be transformed into effective housing demand only under certain conditions. In this context, when looking at the housing claim from a broader perspective, income and wealth adequacy (distribution), housing prices and financing conditions support fiyata accessibility in the home; it is possible to evolve the housing requirement towards the purchase demand. If the purchase of housing is done with credit financing in market conditions, it can be said that the demand for housing financing has come about due to the demand for housing. Domestic market dynamics are the most important factor in determining the sources of housing demand. However, local demand for housing is difficult to determine precisely. It may be considered to seek the knowledge of local real estate agents to overcome the problem of data inaccuracies during the local talebuilding of housing. In the summer, however, the macroeconomic determinants of housing demand have been revealed within socio-economic variables. In this framework, developments in the general economy have a decisive influence on housing demand. For example, the decline in inflation, liberalization and financial innovation are driving housing demand. In addition, factors such as real interest rates on housing loans, housing issues of elderly people, wealth (including heritage) and low housing prices are among the factors affecting housing demand.