kaya, asli central bank of turkey - statistics department, Turkey , topaloglu bozkurt, ayça central bank of turkey - statistics department, Turkey , bastan, emine meltem central bank of turkey - statistics department, Turkey , atilgan ayanoglu, özgül central bank of turkey - statistics department, Turkey

CONSTRUCTING A HOUSE PRICE INDEX FOR TURKEY

34118

In this paper, we present experiences of Central Bank of Turkey in compiling and developing a House Price Index (HPI). HPI, which is constructed by using the method of Stratified Median Price, covers all houses subject to loan approvals all over the country. We focus on why developing a house price index for Turkey was needed, sources and coverage of the index, reasons behind implementing the stratified median price approach, application of stratification and weighting procedures in building the index. In addition, method of developing a new-housing price index is discussed and indices compiled on the basis of 26 NUTS 2 regions are reviewed.

297

House Price Index , Stratification , Weighting

Anadolu University Journal of Science and Technology. A : Applied Sciences and Engineering

313