HEDONIC MODELING OF HOUSING PURCHASE/SALE DENSITY WITH URBAN CHANGE FACTORS

Abstract. Due to the industrialization in the cities, land needs have appeared in the increasing urban population. These needs have created houses with the accumulate of collective living spaces in the city. It is necessary to determine the supply-demand relationship and value of these real estates with economic importance for smart urban management systems and decision support systems in the market. The value of real estate varies according to the country in which it is located, but in general, it is affected by many factors such as spatial attributes, demographic factors, building factors, economic conditions. Depending on these factors, values and purchase-sale densities of housing also change.

In this study, for prediction of housing purchase-sale density, hedonic modeling was realized with 15 features from urban change factors. Urban change factors that affect the purchase/sale of housing such as land use, demographic factors, population density and structural factors have been examined through Geographic Information System (GIS). The hedonic regression method was used for predicting the density of housing purchase/sale. As a result of the modeling, it was found as R² = 0,85.