University of Cambridge, England, 2004

University of Cambridge, England, 2001

Middle East Technical University, Turkey, 1998

Isil is Professor of Real Estate Finance & the Academic Director of Alp Alkas Retail & Real Estate Center at Ozyegin University. She received her PhD degree from Land Economy Department (Real Estate Finance specialization) at University of Cambridge -UK in 2004. Her research interests are real estate finance (REITs, residential mortgages, option-based mortgage pricing), corporate real estate, and housing economics (migration and house price dynamics, housing affordability, housing wealth inequality). Before joining Ozyegin University, Isil was an Associate Professor of Real Estate Finance and Investment in Henley Business School, at the University of Reading, UK, and Associate Professor of Property Economics at the Queensland University of Technology, Australia. Before that, she worked at Middle East Technical University Department of Economics. 

Isil worked for the World Bank as a real estate consultant, led and collaborated in several research projects funded by the World Bank Group, European Union and The Scientific and Technological Research Council of Turkey on the financialization of housing markets, financing urban transformation projects, housing wealth inequality, smart homes, and pricing fixed-rate mortgage contracts in inflationary economies. Isil has widely published in several journals including Journal of Housing Economics, Journal of Real Estate Finance and Economics, Regional Studies, Urban Geography, International Journal of Urban and Regional Research.

Real estate finance (residential mortgages, option-based mortgage pricing, commercial real estate), Corporate finance (REITs, ESG investing), Housing Economics.

Research / Supervision Interests

Although not limited to, some of the possible topics of supervisions are as follows:
- ESG & Circular Economy in Corporate Strategy – Value Creation for Corporates
- Circular Economy in Real Estate and Vertical Farming
- Alternative Financing for Affordable Housing amid the Housing Crisis
- Migration and Housing Market Dynamics

**Note: I am open to new MSc and PhD students**

Previous PhD Supervisions

Previous Masters Supervisions

Published Articles

• Unal, U., Hayo, Bernd, and I. Erol (2024). The Effect of Immigration on the German Housing Market, The Journal of Real Estate Finance and Economics, https://doi.org/10.1007/s11146-024-09988-x
• Unal, U., Hayo, Bernd, and I. Erol (2024). Housing Market Convergence: Evidence from Germany, Applied Economics, https://doi.org/10.1080/00036846.2024.2315094
• Erol I., U. Unal, and Y. Coşkun (2023). ESG Investing and the Financial Performance: A Panel Data Analysis of Developed REIT Markets. Environmental Science and Pollution Research, 30, 85154–85169, https://doi.org/10.1007/s11356-023-28376-1
• Erol, I. and U. Unal (2023) Internal migration and house prices in Australia, Regional Studies, 57:7, 1207-1222, DOI: 10.1080/00343404.2022.2106363
• Adu-McVie, R., Yigitcanlar, T., Xia, B. and I. Erol (2023). How can innovation districts performance be assessed? Insights from South-East Queensland, Australia. Journal of Place Management and Development, 16 (2), 183-247. https://doi.org/10.1108/JPMD-06-2022-0053.
• Adu-McVie, R., Yigitcanlar, T., Xia B. and I. Erol (2022). Innovation District Typology Classification via Performance Framework: Insights from Sydney, Melbourne, and Brisbane, Buildings MDPI, 12(9), 1398, https://doi.org/10.3390/buildings12091398.
• Li, W., T. Yigitcanlar, A. Liu and I. Erol (2022). Mapping Two Decades of Smart Home Research: A Systematic Scientometric Analysis, Technological Forecasting & Social Change, 179, 121676.
• Erol I. and U. Unal (2022). Employment effects of immigration to Germany in the period of migration policy liberalization, 2005–2018. Eurasian Economic Review, 12, 531–565. https://doi.org/10.1007/s40822-022-00199-4.
• Chia, J. and I. Erol (2021). Young Australians living with parents: free and pay board as popular housing tenure choices, Journal of Housing and Built Environment, https://doi.org/10.1007/s10901-021-09911-3
• Li, W., T. Yigitcanlar, I. Erol and A. Liu (2021). Motivations, barriers and risks of smart home adoption: From systematic literature review to conceptual framework, Energy Research & Social Science, 80, 102211. https://doi.org/10.1016/j.erss.2021.102211.
• Isler, O., T. Flew, I. Erol and U. Dulleck (2021). Market news and credibility cues improve house price predictions: An experiment on bounded rationality in real estate, Journal of Behavioral and Experimental Finance, 31, 100550.
• Adu-McVie, R., Yigitcanlar, T., Erol, I. and Xia B. (December 2021) Classifying Innovation Districts: Delphi Validation of a Multidimensional Framework, Land Use Policy, 111, 105779.
• Coskun, Y., I. Erol, and G. Morri. (2021) Why do Turkish REITs Trade at Discount to NAV? A Rational Approach Analysis, Empirical Economics, 60, 2227-2259.
• Erol, I., D. Tirtiroglu, and E. Tirtiroglu (2020) Pricing of IPOs Under Legally Mandated Concentrated Ownership and Commitment Period: Evidence from a Natural Experiment for REITs in Turkey, Journal of Behavioral and Experimental Finance, 25, 100245.
• Erol, I. and T. Tyvimaa (2020) Explaining the Premium to NAV in Publicly Traded Australian REITs, 2008 – 2018, Journal of Property Investment & Finance, 38(1), 4-30.
• Sokalamis Adu Mcvie, R. Yigitcanlar, T. and I. Erol. (2020) How can contemporary innovation districts be classified? A systematic review of the literature, Land Use Policy, 95, 104595.
• Erol, I. (2019) New Geographies of Residential Capitalism: Financialization of Turkish Housing Market Since the Early 2000s, International Journal of Urban and Regional Research, 43(4), 724-740.

Fin 314 Real Estate Finance; Fin 502 Financial Securities and Markets