Linkages between Urbanisation, Real Estate Investments and Sustainability in Turkey

Abstract

This chapter aims to examine the linkages between urbanisation, real estate investments and sustainability in Turkey. To do so, theoretical and conceptual frameworks were discussed based on literature review. Through mixed-methods research, primary data were collected via questionnaires from relevant 248 company executives while secondary data were collected from relevant institutions. Data on two case study green buildings were also collected through documents from building owners and project and construction managers. The results show that many urban development, transformation and real estate projects are executed without considering sustainability principles. Thus, nationally, mixed-use real estate and green building projects are limited even though a majority of the companies surveyed (85%) designed and executed projects based on a green structure approach. Generally, the costs of green buildings are higher compared to traditional buildings. There is the need for strategic spatial plans based on reliable cadastre systems, targeting national and regional development in using existing resources efficiently and paying attention to the importance of environmental quality. For the efficiency of real estate markets, advanced real estate market and financing systems and the integration of sustainability principles into decision-making process in planning, design, construction and operation phases of projects should be considered.