Abstract

The aim of this study is to determine relationship among sub–sector indices of the Borsa Istanbul (BIST) including BIST Real Estate Investment Trust (XGMYO), BIST Non-Metal Mineral Product (XTAST), BIST Chemical, Petroleum, Plastic (XKMYA), BIST Basic Metal (XMANA) and BIST 100. The reason for choosing these indices is that they represent important components of the housing industry, which is one of the important elements of real estate and very important in our country. For this purpose, monthly data between October 2005 and September 2019 is analyzed with the ARDL-Bounds testing approach. As a result of the analysis, the long-term cointegration relationship between the variables is determined and significant results are obtained regarding BIST Real Estate Investment Trust index being affected by the BIST Non-Metal Mineral Product and BIST Basic Metal index. In addition short term results support that the BIST 100 index is associated with the Real Estate Investment Trust index.