Urban Renewal and its Effect on Real Estate Values, Galataport Project Example, Sishane Region Example


  • Pelin Yiğit Department of Engineerinng and Architecture, Tasyoncasi Sokak Agaoglu 1453 Maslak Sarıyer , Istanbul and 34481742, Turkey


Developing countries, housing policy, housing problem, design, architecture, real estate, capital markets; urbanization


Urban projects that cover large areas, include a diversity of urban functions, and prioritize the profit of the investor rather than the public interest, have been used as tools to facilitate transformation. The rediscovery of dilapidated areas and historically important architecture in city centers has laid the groundwork for the organization of cultural and entertainment activities. These urban spaces have been shaped as a part of new consumption habits in the fields of travel, culture and entertainment. In this context, the layers that make up the identity of the enlighteners in the region will be discussed together with the strong elements that make up the identity of the Golden Horn and Galata in the historical process. The formation of the region has been tried to be explained over certain date ranges. For this reason, important dates on which the developments affecting the region were experienced were determined as breaking points. Sishane District has been significantly affected by the developments mentioned, both with its location in the historical center and its craft district structure. These; Galataport and Halicport as projects for the regulation of coastal areas, Tarlabasi Renewal Project, where real estate-oriented transformation is carried out, Halic Metro Bridge and Haliç Tube Passage Project, which are large-scale transportation structures used as a means to generate income, and the 2010 Beyo?lu Development Plan change, which includes important decisions for tourism. With the Tuesday Pazari Cruise Port Project, known as "Galataport", the area used for passenger and freight transportation in the past is being replaced with cultural, tourism and trade functions. For each neighborhood, the prices of the unit square meters of the houses in dollars were calculated. Based on these data calculated later, the average unit square meter prices for the years 1980-1985-1990-1995 and 2000 were determined for each neighborhood. As a result of the analysis made with the collected data; it can be said that the increase in housing prices in the districts affected by this transformation environment is much higher than in other areas. Especially Cihangir is the best example in this sense. Changes in the social structure of the district have also affected the place, and the change in the user profile has shown its effect on housing prices. In this respect, the transformation of the district is similar to the social and spatial renewal process in some similar American cities. The results of this study can serve as an example for the analysis of housing prices in other neighborhoods that are similarly transformed.


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How to Cite

Yiğit, P. (2023). Urban Renewal and its Effect on Real Estate Values, Galataport Project Example, Sishane Region Example. International Journal of Formal Sciences: Current and Future Research Trends, 18(1), 43–58. Retrieved from https://ijfscfrtjournal.isrra.org/index.php/Formal_Sciences_Journal/article/view/721