Spatial analysis of 2000-2018 residential prices in istanbul

Abstract

The purpose of this article is to examine the spatial distribution of housing prices for neighbourhoods in Istanbul andto compare their growth rates over the previous two decades. The results of the study reveal that while traditionallyexpensive housing in coastal areas has remained the same in terms of value, its quantity has undergone a significantincrease. There has also been a decentralization of high property values towards the periphery of the city. This is aresult of economic development, the attraction of a fashionable suburban life-style, the formation of new sub-centers,the development of transportation systems, and the effects of globalization due to foreign investments. However, thesechanges have also meant that the disparity between housing for lower and higher income brackets is becoming moremarked. Furthermore, the results illustrate that increased numbers of planned neighborhoods, the restructuring ofsquatter areas, and the revitalization of inner-city neighborhoods have helped to raise housing prices at themetropolitan level.