Residential Market Dynamics and Micro-Scale Environmental Quality: A Hedonic Assessment in Transforming Neighborhoods

Abstract

This paper analyses the links between structural, locational, and micro-scale environmental features and housing prices in two transforming neighborhoods in İzmir, Türkiye: Mansuroğlu (Bayraklı) and Kazımdirik (Bornova). Neighborhood-specific hedonic price models were applied to a dataset of 120 geolocated housing listings, allowing for a comparative assessment of price determinants under different redevelopment dynamics. Micro-scale environmental quality (MSEQ) was evaluated through expert-based street audits using Google Street View and incorporated into the models as a composite indicator reflecting pedestrian-level environmental conditions. The findings indicate that housing prices are primarily influenced by structural characteristics such as floor area, building age, and number of bathrooms, as well as locational attributes, particularly being located within a gated residential complex. These results are consistent across both neighborhood models, highlighting the dominant role of physical housing attributes and redevelopment patterns in shaping market values. Although the MSEQ coefficient is positive in both cases, it is not statistically significant at conventional levels. This suggests that, in rapidly transforming housing markets, structural and redevelopment-related factors outweigh the influence of micro-scale environmental quality in price formation. Nevertheless, the inclusion of environmental indicators provides a more comprehensive understanding of neighborhood dynamics and urban transformation processes. The findings also point to the potential indirect or context-dependent role of environmental quality, indicating the need for further research incorporating larger datasets and alternative methodological approaches.

Keywords

• Housing values
• hedonic model
• Urban transformation
• Neighborhood characteristics
• Spatial and locational factors

Dönüşüm Sürecindeki Mahallelerde Konut Piyasası Dinamikleri ve Mikro-Ölçekli Çevresel Kalite: Hedonik Bir Değerlendirme

Öz

Bu çalışma, İzmir’de dönüşüm sürecindeki iki mahallede—Mansuroğlu (Bayraklı) ve Kazımdirik (Bornova)—yapısal, konumsal ve mikro-ölçekli çevresel özellikler ile konut fiyatları arasındaki ilişkileri incelemektedir. Farklı yeniden gelişim dinamikleri altında fiyat belirleyicilerini karşılaştırmalı olarak değerlendirebilmek amacıyla, 120 adet coğrafi konumu belirlenmiş konut ilanından oluşan veri setine mahalleye özgü hedonik fiyat modelleri uygulanmıştır. Mikro-ölçekli çevresel kalite (MESQ), Google Street View üzerinden gerçekleştirilen uzman temelli sokak gözlemleriyle ölçülmüş ve yaya düzeyindeki çevresel koşulları temsil eden bileşik bir gösterge olarak modellere dâhil edilmiştir. Bulgular, konut fiyatlarının büyük ölçüde metrekare, bina yaşı ve banyo sayısı gibi yapısal özellikler ile site içinde yer alma gibi konumsal nitelikler tarafından belirlendiğini göstermektedir. Bu sonuçlar her iki mahalle modeli için de tutarlıdır ve fiziksel konut özellikleri ile yeniden gelişim süreçlerinin piyasa değerleri üzerindeki baskın rolünü ortaya koymaktadır. MESQ değişkeninin katsayısı her iki modelde de pozitif olmakla birlikte, geleneksel anlamlılık düzeylerinde istatistiksel olarak anlamlı bulunmamıştır. Bu durum, hızlı dönüşüm geçiren konut piyasalarında fiyat oluşumunda mikro-ölçekli çevresel kaliteden ziyade yapısal ve yeniden gelişim odaklı faktörlerin daha belirleyici olduğunu göstermektedir. Bununla birlikte, çevresel göstergelerin modele dâhil edilmesi, mahalle dinamiklerinin ve kentsel dönüşüm süreçlerinin daha bütüncül bir şekilde anlaşılmasına katkı sağlamaktadır. Bulgular ayrıca, çevresel kalitenin dolaylı veya bağlama özgü etkilerine işaret etmekte olup, daha geniş veri setleri ve alternatif yöntemler kullanılarak yapılacak ileri çalışmaların gerekliliğini ortaya koymaktadır.

Anahtar Kelimeler

• Konut değerleri
• Kentsel dönüşüm
• Mahalle özellikleri
• Mekansal ve konumsal faktörler

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