Investigation of the existence of housing bubble in Türkiye according to provinces and regions

The need for shelter is defined as the basic need of individuals from past to present. This need is met through housing. Imbalances in housing supply and demand cause fluctuations in housing prices. At this point, the concept of housing bubbles comes to the fore. Housing bubbles refer to artificially rising housing prices. Discussions regarding the existence of housing bubbles in Türkiye cover a long period. The increase in housing prices throughout Türkiye, especially after the February 6, 2023 earthquake, brings to mind the question, "Is there a housing bubble?". In this context, the study aims to investigate the existence of housing bubbles by considering housing price indices on a regional basis and housing unit prices on a selected province basis for 2010 - 2024. The existence of bubbles in housing price indices and housing unit prices are investigat using right-tailed Augmented Dickey-Fuller unit root (RTADF), right-tailed Equius Augmented Dickey-Fuller unit root (SADF), and Generalized Equius Augmented Dickey-Fuller unit root (GSADF) tests. With these tests, it is possible to understand the existence of housing bubbles and the periods in which bubbles appear. As a result of the study, housing bubbles are observe both on a provincial and regional basis in Türkiye.