The Impact of the COVID-19 Pandemic on Investment Management in the Housing Market in Turkey

Authors

DOI:

https://doi.org/10.34190/eckm.24.1.1484

Keywords:

COVID-19, residential property, investment, management, methodology, pandemic

Abstract

COVID-19 significantly impacted the management of investments in the residential property market. Changes in property demand, shifts in market volatility, financing challenges, changes in property management and changes in local regulations and policies are presented. The pandemic created a more challenging and unpredictable investment management (IM) environment in the residential property market. However, with proper knowledge management (KM) and investment strategies, investors may have opportunities to thrive in this changing market. Investment KM refers to identifying, capturing, organising and sharing information and expertise related to investment activities within an organisation. KM in residential investment involves developing a system for gathering, organising and using information and expertise related to buying, owning, and selling a property. COVID-19 significantly affected the property market. Effective KM in residential investment can help individuals make informed decisions, identify potential risks, and maximise the value of their investment. Like many others worldwide, the Turkish residential market was hit by COVID-19. The Turkish residential market has a few key points: financing, shifts in buyer preferences, and regulation changes. The pandemic hit Turkey's residential property market, leading to property price changes. The Turkish government implemented several residential policies to support the residential market and help individuals and families facing financial challenges due to the pandemic. Those policies did not eliminate the challenges but mitigated some of the negative effects of the pandemic on the market and helped individual investors. This article discusses house price changes in Turkey during the COVID-19 period, the factors affecting price changes, and the property policies that affect property price changes. This article analyses IM challenges and explores how KM can help individual property investors.

Author Biographies

Celal Erdogdu, ISMA University of Applied Sciences

Celal Erdogdu is a PhD candidate in the Department of Business Administration at the ISMA University of Applied Sciences in Latvia. He is writing his PhD and works as a real estate valuer. His research focuses on the housing market, home price changes, affordability, gas station, and hotel valuation.

Inese Spica, Scientific Institution Business Competence Centre

Dr Inese Spica is leading researcher at the scientific institution Business Competence Centre and professor at the ISMA University. She received her PhD in economics sciences from University of Latvia in 2001. She is editor of scientific journals, monographs and has been managed three international conferences on Business Competences; Trade Marketing; Business Environment.

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Published

2023-09-05

Issue

Vol. 24 No. 1 (2023): Proceedings of the 24th European Conference on Knowledge Management

Section

Academic Papers

License

Copyright (c) 2023 European Conference on Knowledge Management

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.