Rental price convergence in a developing economy: New evidence from nonlinear panel unit root test

Bilgin, Mehmet Huseyin, Lau, Chi Keung, Demir, Ender and Astrauskiene, Nijole (2010) Rental price convergence in a developing economy: New evidence from nonlinear panel unit root test. International Journal of Strategic Property Management, 14 (3). pp. 245-257. ISSN 1648-715X

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Official URL: http://dx.doi.org/10.3846/ijspm.2010.18

Abstract

We examine the hypothesis of nonlinear rental price convergence using relative rental price index of three major cities of Turkey namely, Istanbul, Izmir, and Ankara span from the period from January 1994 to February 2010. Our results indicate that all cities exhibit rental price convergence towards its national mean level for the period of January 1994 to December 2004. In contrast, none of the cities show evidence of convergence from January 2005 to February 2010. The evidence clearly shows rental price divergence in Turkish property market.

Item Type: Article
Uncontrolled Keywords: Turkey, housing industry, panel unit root test, rental price movement
Subjects: L100 Economics
N100 Business studies
Department: Faculties > Business and Law > Newcastle Business School > Business and Management
Depositing User: Chi Keung Lau
Date Deposited: 30 Sep 2013 09:12
Last Modified: 04 Dec 2015 13:12
URI: http://nrl.northumbria.ac.uk/id/eprint/13586

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