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As the Istanbul city spread out new neighborhood areas are also developed with new characteristics.

Location of houses on Europe continent has more impact on value than Asian part of the city. House Price taken in natural Log form as dependent variable and house characteristics, neighborhood characteristics and transportation infrastructure taken as independent variables. Factors that affect house prices in Istanbul are investigated by Hedonic Regression Model with spatial variables. The purpose of this paper is to explore the nature of housing price differences in Istanbul Metropolitan Area. He has been a member of the board of directors of the European Real Estate Society (ERES) and President 2016-17, the leading real estate research and education organization in Europe. He has academic articles in international/national journals and several conference papers in international conferences. After completion of his PhD, he has started lectures on, “Real Estate Finance & Investment” and “Real Estate Modeling and Forecasting”, at İ.T.Ü. He worked at University of Alicante Institute of International Economics in 2010 and Cass Business School Department of Finance in 2011. He has been worked at ITU Urban and Environmental Planning and Research Center 2002-2012.

Kerem Yavuz Arslanlı is currently employed at Istanbul Technical University Department of Urban and Regional Planning.

Hedonic price index