18 Using Clustering of Panel Data to Examine Housing Demand …
193
Afghans demand housing especially from IstanbulWhen compared with the
Germans housing demand of 2015, housing demand interest in Turkey has continued
in 2016. In 2016, it ranks second in the list with 1474 units and 649,254 m
2 purchases.
Another country that was.
on the list in the previous year and continued to increase in 2016 is Azerbaijan. Although the number of Azerbaijanis, which ranked ninth in the list in 2015,
decreased in number, their purchases in square meters increased. Azerbaijanis ranked
fifth with 280,247 m
2 purchases. It ranks eighth in the list of housing purchases.
According to a research by the Demir, Construction Management Board, border
neighborhood of Turkey with Iran it is important from a strategic point of view. Thus,
the Iranians are among the most residential area purchasing nations. According to
Radikal (2008), the Turkish real estate market since 2003 and it was opened to foreign
buyers of the situation, the British property buyers purchase housing from Turkey
because of the low prices. Any housing on the Turkish coast can be purchased for as
low as 35,000 lb. While the UK is ranked first in the list with 4,552 housing purchases
in 2015, it is ranked second with 2,556 housing purchases in 2016.
The similarity of the countries in the second, third, fourth, fifth, sixth, seventh and
eighth clusters stems from the fact that housing demand is for investment, accommodation and tourism purposes. In 2015, Iraq was the leading foreign investor with
4 228 units purchase followed by Saudi Arabia with 2704, Kuwait with 2130, Libya
with 427, United Arab.
Emirates with 332, Qatar with 277, Egypt with 318, Jordan with 243 and Yemen
with 231 houses. Middle Eastern countries mostly buy real estate from Istanbul, Izmit
and Yalova provinces.
When we look at the year 2016, Iraqis have 3 thousand 36 houses. The monthly
average purchase price of Iraqis, the leader of 2015, was 253. In 2016, Saudi Arabia
citizens ranked second with 1886 and Kuwait citizens ranked third with 1744.
Accordingly, in 2016, 18 thousand 391 houses were sold to foreigners. The Dutch
have purchased 217, the Belgians 198.
18.5 Conclusion
In this study, clustering analysis with k-prototypes algorithm was applied to the
economic factors affecting the sale of houses of provincial groups. The main purpose
of the study is to classify the provinces and countries showing common feature
according to the expectations of the Turks living abroad and foreign countries in the
demand for housing in Turkey.
According to the analysis results, the cluster validity indices Cindex (0.0111),
Gamma (0.9348) and Gplus (0.0093) as index values found for expatriates who
demand housing from Turkey suggest the optimal number of clusters as 6. On
the other hand, cluster validity indices Cindex (0.0037), Dunn (0.3495) and Gplus
(0.0041) as the index found for foreigners who demand for housing in Turkey suggests
193
Afghans demand housing especially from IstanbulWhen compared with the
Germans housing demand of 2015, housing demand interest in Turkey has continued
in 2016. In 2016, it ranks second in the list with 1474 units and 649,254 m
2 purchases.
Another country that was.
on the list in the previous year and continued to increase in 2016 is Azerbaijan. Although the number of Azerbaijanis, which ranked ninth in the list in 2015,
decreased in number, their purchases in square meters increased. Azerbaijanis ranked
fifth with 280,247 m
2 purchases. It ranks eighth in the list of housing purchases.
According to a research by the Demir, Construction Management Board, border
neighborhood of Turkey with Iran it is important from a strategic point of view. Thus,
the Iranians are among the most residential area purchasing nations. According to
Radikal (2008), the Turkish real estate market since 2003 and it was opened to foreign
buyers of the situation, the British property buyers purchase housing from Turkey
because of the low prices. Any housing on the Turkish coast can be purchased for as
low as 35,000 lb. While the UK is ranked first in the list with 4,552 housing purchases
in 2015, it is ranked second with 2,556 housing purchases in 2016.
The similarity of the countries in the second, third, fourth, fifth, sixth, seventh and
eighth clusters stems from the fact that housing demand is for investment, accommodation and tourism purposes. In 2015, Iraq was the leading foreign investor with
4 228 units purchase followed by Saudi Arabia with 2704, Kuwait with 2130, Libya
with 427, United Arab.
Emirates with 332, Qatar with 277, Egypt with 318, Jordan with 243 and Yemen
with 231 houses. Middle Eastern countries mostly buy real estate from Istanbul, Izmit
and Yalova provinces.
When we look at the year 2016, Iraqis have 3 thousand 36 houses. The monthly
average purchase price of Iraqis, the leader of 2015, was 253. In 2016, Saudi Arabia
citizens ranked second with 1886 and Kuwait citizens ranked third with 1744.
Accordingly, in 2016, 18 thousand 391 houses were sold to foreigners. The Dutch
have purchased 217, the Belgians 198.
18.5 Conclusion
In this study, clustering analysis with k-prototypes algorithm was applied to the
economic factors affecting the sale of houses of provincial groups. The main purpose
of the study is to classify the provinces and countries showing common feature
according to the expectations of the Turks living abroad and foreign countries in the
demand for housing in Turkey.
According to the analysis results, the cluster validity indices Cindex (0.0111),
Gamma (0.9348) and Gplus (0.0093) as index values found for expatriates who
demand housing from Turkey suggest the optimal number of clusters as 6. On
the other hand, cluster validity indices Cindex (0.0037), Dunn (0.3495) and Gplus
(0.0041) as the index found for foreigners who demand for housing in Turkey suggests