The relationship between foreign residents, housing price index, inflation and unemployment in Turkiye

Yalçıner K., Ölçen O.

International Journal for Housing Science and Its Applications, vol.46, no.1, pp.20-25, 2025 (Scopus) identifier

  • Publication Type: Article / Article
  • Volume: 46 Issue: 1
  • Publication Date: 2025
  • Doi Number: 10.70517/ijhsa46103
  • Journal Name: International Journal for Housing Science and Its Applications
  • Journal Indexes: Scopus, Academic Search Premier, Compendex
  • Page Numbers: pp.20-25
  • Keywords: DCC GARCH model, foreign residents, housing price index, inflation, unemployment
  • Istanbul Gelisim University Affiliated: No

Abstract

There is a large economy behind relationship real estate markets and the migration process. This paper mainly concentrates on this economy by relating inflation, unemployment, Housing Price Index (HPI) and Foreign Residents (FR) in Turkiye with a DCC GARCH Model. According to the findings, there are high correlative relations between the changes in HPI and inflation and unemployment sequentially. On the other side, a relatively calm relationship is found between changes in HP and changes in FR. %18 of the correlations are formed because of the shocks, conversely, %45 of the correlations are formed depending on the lags structure of the model. In light of this research, it can be said that the macro policies have less direct impacts on the FR. Through the mediating role of the HPI, inflation and unemployment can indirectly impact the FR. Income levels, the economic and political situations of the domestic and migration-aimed countries, and psychological and sociological factors can affect this equation.