Housing affordability, housing demand and determinants of housing demand: A case of Ankara province

Since the early last century, many models have been revealed in this field by focusing on economic approaches to real estate in many countries. In this study; the main objectives are to explain the theories that are effective in the functioning of urban housing markets, to examine the approaches of housing affordability, to create a demand model with macro-qualified variables, to explain the variables that are effective in the decision-making process of consumers based on the analysis of the survey data. Within the scope of housing demand VAR, Granger, and VECM models were examined and Engle-Granger's two-stage estimation method was applied for the demand model which is cover the 2000-2021 periods. According to the model results; it has been determined that the increases in the consumption expenditures of the households, the number of flats that have received building permits, the real estate activity, and the total population have an increasing effect on the housing sales, while the increases in the housing loan interest rate have a decreasing effect on the housing sales. To determine the factors affecting consumer decisions, a questionnaire was applied to 793 people who bought houses in the Çankaya district. According to the prominent results of the survey; although individuals will reside at different distances, the variable of transportation or distance is marked as the most important option for both gender groups. Within the scope of housing affordability, the topics such as housing project development, housing production and financing packages of public institutions, examples of municipal and private housing companies, social rental housing applications, build and rent model, legal and institutional arrangements such as fair housing law, it is considered that it is possible to develop permanent solutions to housing problems by developing policies and effective implementation that facilitate access to housing, especially for middle and lower income group households in the developing countries and Turkey.