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Finance and System of Provision of Housing. The Case of Istanbul, Turkey

Author

Listed:
  • Ozlem Celik

    (Middle East Technical University (METU), Department of Political Science and Public Administration)

  • Aylin Topal

    (Middle East Technical University (METU), Department of Political Science and Public Administration)

  • Galip Yalman

    (Middle East Technical University (METU), Department of Political Science and Public Administration)

Abstract

This paper outlines a theorisation of the systems of provision approach (sop) and illustrates the relation between financialisation and housing by applying the sop framework in the case of Istanbul. The interest of different segments of capitalist interests in urban space has been gradually growing in Turkey, and in Istanbul particularly over the last decade, with a special emphasis on the construction sector in general and housing, in particular. The housing provision in Istanbul has been changing in terms of the role of the state, the expansion and increase in construction sector in relation to the integration to global capitalism, moments of resistance in different neighbourhoods against gentrification, the expectations of consumers from different classes, and the changing role of labour. The paper shows that the role and impact of finance and financialisation is evident in the case of Istanbul in terms of revealing the tensions, conflicts and congruencies among different developers, different classes, between the state, developers and consumers.

Suggested Citation

  • Ozlem Celik & Aylin Topal & Galip Yalman, 2016. "Finance and System of Provision of Housing. The Case of Istanbul, Turkey," Working papers wpaper152, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    • Handle: RePEc:fes:wpaper:wpaper152
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    File URL: http://fessud.eu/wp-content/uploads/2015/03/Housing_Istanbul_WP152-FESSUD.pdf
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    References listed on IDEAS

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    1. Isil Erol & Özgenay Cetinkaya, 2009. "Originating Long-Term Fixed-Rate Mortgages In Developing Economies New Evidence from Turkey," ERES eres2009_148, European Real Estate Society (ERES).
    2. Isil Erol & Kanak Patel, 2004. "Housing Policy and Mortgage Finance in Turkey During the Late 1990s Inflationary Period," International Real Estate Review, Global Social Science Institute, vol. 7(1), pages 98-120.
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    Cited by:

    1. Eren Vural, Ipek, 2017. "Financialisation in health care: An analysis of private equity fund investments in Turkey," Social Science & Medicine, Elsevier, vol. 187(C), pages 276-286.

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