Seventeenth Century Residential Real Estate Prices In Istanbul

Ayse Tugba Sengil

ERES from European Real Estate Society (ERES)

Abstract: This study is based on research about residential real estate prices of Istanbul in seventeenth century. City of Istanbul which located both Asia and Europe has history of approximately 9000 years. The earliest known settlement of Istanbul dates from 6700 BC at the historic peninsula on European Side. City centre of Istanbul in seventeenth century is also located in this area which is today known as Fatih and Eminonu districts and they are part of World’s Cultural Heritage. In seventeenth century, Istanbul had been part of Ottoman Empire since 1453. For centuries it was the capitol of economics, social life and administration of the Empire and then Republic of Turkey, although the last moved to Ankara after republic is established, yet importance of the city did remain.This study aims to determine how residential real estate market evolved in the long-run with historical perspective. It has discovered that not many studies are existed in the literature about real estates of Istanbul with historical perspective. Additionally this study is also expected to contribute to create a background/basic for further studies in similar subjects such as commercial real estates and different timelines. In order to achieve that a database of sales prices of residential real estates in Istanbul spanning the years from 1600-1699 are going to be put together. Sale registrations of Ottoman Central Istanbul Islamic Courts of seventeenth century provides a large scale of data about relevant subject. Using this database, decade-interval chances in real estate prices are planned to estimate. Moreover, reviewing effects of historical milestones to the house prices during specified period is a goal.As conclusion; in addition to appraising the residential real estate values of seventeenth century in Istanbul, city of average 700.000 population, through central districts, the city’s financial history is going to be explored, especially in terms of city’s residential facilities.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-07-01
New Economics Papers: this item is included in nep-ara, nep-cwa and nep-his
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