A STUDY ON HOUSING AND HOUSING PRICES IN TURKEY FROM THE PERSPECTIVE OF SUSTAINABLE DEVELOPMENT GOALS

Abstract

Housing plays a critical role in achieving Sustainable Development Goals, beyond being a basic necessity . The economic, social, and environmental dimensions of the housing sector interact in a complex and multifaceted way with the principles of Sustainable Development. As a significant component of national economies, the housing sector has the potential to create employment, attract investment, and stimulate economic growth. However, speculative market dynamics and inaccessible housing prices can deepen economic inequalities and pave the way for financial instability. Therefore, a sustainable housing policy must aim to support economic growth while also ensuring social justice and financial stability. Access to adequate, safe, and affordable housing is a fundamental prerequisite for social welfare and community cohesion. Housing shortages or poor-quality housing can lead to negative outcomes including social exclusion. In this context, this study aims to empirically examine the relationship between housing unit prices and housing interest rates in Turkey during the period of 2010:Q1-2024:Q4. The analysis, conducted using the Toda-Yamamoto causality test, reveals a bidirectional causality relationship between housing unit prices and housing interest rates in Turkey during the specified period.

Keywords: Sustainable Development, Housing, Housing prices, Causality, Toda Yamamoto Causality