Determinants of Shopping Center Rents in Istanbul
||Demirciouglu, Esra; Vedia Dokmeci
||Determinants of Shopping Center Rents in Istanbul
||14th Annual European Real Estate Society Conference in London, UK
||Istanbul is the greatest metropolitan city of Turkey and since the first shopping centre in Istanbul (1988), the number of shopping centres rapidly increased. Today, there are 127 shopping centres in Turkey and 41 of them are in Istanbul. Also, among the 100 shopping centres which have been planning in Turkey, the 45 of them are in Istanbul and 35 of them are still under construction (AMPD, 2007). In this context, this study investigates the spatial distribution of shopping centres and rent values in the metropolitan city of Istanbul, Turkey. By this way, we aimed to find out the determinants of shopping centre rents which cause to differences in the city. For this purpose, the standard multiple linear regression procedure is used and the variables for the rent determinants are chosen according to literature review. The results indicate the shopping centres’ rent determinants for Istanbul city. Thus, the spatial distribution of shopping centres with different rent values also will show the urban dynamics of the city. These findings can be helpful to developers, investors, and policy makers in dealing with this issue.
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||Session J2: Issues in Real Estate Investment III
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