Istanbul’s Property Market

Importing of xlsx file as follows (as the original column names include spaces I’ve found a way to eliminate this problem, which is calling .name_repair=“universal”. This function changes spaces with dots);

url <- "https://mef-bda503.github.io/files/EVDS_istanbul_property_data.xlsx"
destfile <- "EVDS_istanbul_property_data.xlsx"
curl::curl_download(url, destfile)
EVDS_istanbul_property_data <- read_xlsx(destfile,n_max = 130,.name_repair = "universal")
## New names:
## * `TP AKONUTSAT1 T40` -> TP.AKONUTSAT1.T40
## * `TP AKONUTSAT2 T40` -> TP.AKONUTSAT2.T40
## * `TP AKONUTSAT3 T40` -> TP.AKONUTSAT3.T40
## * `TP AKONUTSAT4 T40` -> TP.AKONUTSAT4.T40
## * `TP DISKONSAT ISTANBUL` -> TP.DISKONSAT.ISTANBUL
## * ...
View(EVDS_istanbul_property_data)

Plots and Line together

This is the code chunk for my first hands-on ggplot visualization (couldn’t manage the dates);

#managing dates
EVDS_istanbul_property_data$Tarih <- EVDS_istanbul_property_data$Tarih %>% readr::parse_date(format = "%Y-%m") %>% lubridate::as_date(.)

istanbul<-ggplot(EVDS_istanbul_property_data,aes(x=Tarih ,y=TP.TCBF02.ISTANBUL,group=1))+geom_line()+geom_point(color="red",alpha=0.5)+labs(x="Date",y="Price",title = "Housing Prices in Istanbul-Turkey")
istanbul
## Warning: Removed 1 row(s) containing missing values (geom_path).
## Warning: Removed 1 rows containing missing values (geom_point).

Findings and Conclusion

Starting from 2010 to 2020 Istanbul housing prices per meter square has tripled. Although the main reason for this increase seems like the inflation rate at first glance, underlying real reason might be the depreciation of real value of Turkish Lira among foreign currencies. Otherwise we cannot explain the decrease starting from September 2018 to May 2019. As the visualization shows, after May 2019 housing prices started to rise again which coincides with the USD-TRY rate increase.

As a conclusion it might be better to compare Istanbul Housing prices with USD-TRY currency rates to see if there’s correlation.

USD - TRY Rates

currency$Tarih <- currency$Tarih %>% readr::parse_date(format = "%Y-%m") %>% lubridate::as_date(.)

curr<-ggplot(currency,aes(x=Tarih ,y=Kur,group=1))+geom_line()+geom_point(color="red",alpha=0.5)+labs(x="Date",y="USD-TRY",title = "Currency Rates in Turkey")
curr