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This study aims to explore the housing demand of urban fringe residents in southwest Ankara. Two subquestions were developed: What are the respondents’ perceptions of Ankara city center and which characteristics do they prioritize for living in the urban fringe? Data were collected through a face-to-face household survey, and a hedonic regression model was developed based on responses.

Increasing housing demand, lifestyle change and faulty housing policies in Ankara have triggered urban sprawl along fringe areas, which causes several urban problems. Considering that urban sprawl is related to housing demand, it is essential to examine the structure of housing demand and the preference to live near the urban fringe.

According to the survey results, security, crime, noise pollution, traffic congestion and parking problems that reduce the welfare of Ankara city center encouraged expansion toward the rural–urban fringe, in addition to low-quality or traditional housing attributes. The urban core became unattractive to the respondents for being insecure, chaotic and down-market. The hedonic model showed that seven variables, all related to housing characteristics, best explain the housing demand in the area. Socioeconomic status and lifestyle were found to be associated with the desire to live on the urban fringe, also indicating the snob effect.

The authors propose taking domain-specific housing demand patterns in the spatial planning assumptions and housing policies into consideration for a well-governed urban development in Ankara. Making the city center more appealing through rehabilitation should be preferable rather than limiting demand on the urban fringe with a strict intervention in housing supply.

This chapter aims to examine the linkages between urbanisation, real estate investments and sustainability in Turkey. To do so, theoretical and conceptual frameworks were discussed based on literature review. Through mixed-methods research, primary data were collected via questionnaires from relevant 248 company executives while secondary data were collected from relevant institutions. Data on two case study green buildings were also collected through documents from building owners and project and construction managers. The results show that many urban development, transformation and real estate projects are executed without considering sustainability principles. Thus, nationally, mixed-use real estate and green building projects are limited even though a majority of the companies surveyed (85%) designed and executed projects based on a green structure approach. Generally, the costs of green buildings are higher compared to traditional buildings. There is the need for strategic spatial plans based on reliable cadastre systems, targeting national and regional development in using existing resources efficiently and paying attention to the importance of environmental quality. For the efficiency of real estate markets, advanced real estate market and financing systems and the integration of sustainability principles into decision-making process in planning, design, construction and operation phases of projects should be considered.

This study aims to examine the performance and volatility of Turkey Real Estate Investment Trusts (Turkish REITs) as the world is adjusting to the new normal situation in every aspect of REITs' business activities.

The prices of REITs were acquired from 26 Turkish REITs in this study, but owing to autocorrelation difficulties, 14 Turkish REITs were employed in the analysis. The ten-year long-term bond of the Turkish Government was also utilized and the period of data obtained was based on availability. The performance of Turkish REITs was evaluated using Sharpe's ratio and Treynor's ratio, and the volatility was assessed using MGARCH-BEKK.

The authors found out that Turkish REITs are constantly underperforming and the REITs' returns remain highly volatile and persistent. In addition, findings showed evidence of volatility clustering and the asymmetric impact of shocks. This study further revealed the uniqueness of each of the Turkish REITs due to the lack of evidence of multicollinearity.

However, the limitation of this study is the constraint in obtaining more macro-economic variables of more than ten-years of Turkey's Government bond and the study focused mainly on Turkish REITs.

The result suggests that since Turkish REITs are not mandatory to payout 90% of taxable earnings as dividends, high performance and an appropriate risk management approach are expected. The need for timely revealing performance of T-REITs and associated uncertainty may trigger better performance as discussed in the relationship between disclosure and performance which is recently emphasized in a recent study by Koelbl (2020). With current performance and associated uncertainty in Turkish REITs, the need to protect Turkish REITs investors is highly essential. The result further educates REIT investors that diversification benefits of REITs tend to reduce in extremely risky situations.

This is the first study in the context of Turkish REITs that comprehensively integrated market capitalization of REITs and simultaneous evaluation of performance and the volatility of the Turkish REITs as the world adjusts to the new normal.

This paper aims to investigate asymmetric pricing behaviour and impact of coronavirus (Covid-19) pandemic shocks on house price index (HPI) of Turkey and Kazakhstan.

Monthly HPIs and consumer price index (CPI) data ranges from 2010M1 to 2020M5 are used. This study uses a nonlinear autoregressive distributed lag model for empirical analysis.

The findings of this study reveal that the Covid-19 pandemic exerted both long-run and short-run asymmetric relationship on HPI of Turkey while in Kazakhstan, the long-run impact of Covid-19 pandemic shock is symmetrical long-run positive effect is similar in both HPI markets.

The main limitations of this study are the study scope and data set due to data constraint. Several other macroeconomic variables may affect housing prices; however, variables used in this study satisfy the focus of this study in the presence of data constraint. HPI and CPI variables were made available on monthly basis for a considerably longer period which guaranteed the ranges of data set used in this study.

Despite the limitation, this study provides necessary information for authorities and prospective investors in HPI to make a sound investment decision.

This is the first study that rigorously and simultaneously examines the pricing behaviour of Turkey and Kazakhstan HPIs in relation to the Covid-19 pandemic shocks at the regional level. HPI of Kazakhstan is recognized in the global real estate transparency index but the study is rare. The study contributes to regional studies on housing price by bridging this gap in the real estate literature.