The Impact of Covid-19 on Real Estate Demand Based on Green Spaces: Case Study of Türkiye (Ankara)

Abstract

The COVID-19 pandemic in 2020 revealed its impact on various sectors inside our country. The aim of this study is to evaluate the impact of changing socio-economic lifestyle habits during the COVID-19 pandemic on the demand for real estate in Çankaya and Keçioren districts of Ankara., specifically regarding open and green areas. The study’s approach involves doing statistical analysis on a dataset consisting of around 28,400 entries from the REIDIN Data&Analytics. This analysis is performed using the E-Views Economic Analysis software. Linear regression analysis and the Kalman Filter Method are used. Then, spatial analyses were performed using GIS by using kernel density analysis. It has been observed that Çankaya's unit pricing per square meter has been found to be higher than those of Keçiören. Based on the residential real estate type, the rate of preference for houses with gardens and distinctive green areas was 4.17% in 2018, 4.22% in 2019, and 4.45% in 2020 in Çankaya district, and 0.13% in 2018, 0.15% in 2019, and 0.14% in 2020 in Keçiören district. Comparisons indicate that the rates in Keçiören are very low. It was concluded that demand for green-space real estate in the Keçiören district increased after the pandemic compared to the pre-pandemic period. On the other hand, in the Çankaya district, there has been a decrease in monthly demand for real estate with green areas since March 2020. During the same period, demand for real estate with green areas in Çankaya remained stable.

Keywords

• COVID-19 pandemic
• Real estate demand
• Open-green space
• Spatial and econometric analysis