GENTRIFICATION AS A RESULT OF GLOBALISATION

Posted On Oct 17 2011 by

Smith and Williams defined gentrification as “the rehabilitation of working-class and derelict housing and the consequent transformation of an area into a middle-class neighbourhood”. Gentrification emphasized the effects of global economy on newly found sectors due to financial activities and international job transactions during 1980’s as a result of the radical changes in Turkish economy. There were new types of jobs especially in İstanbul in accordance with the demands of this new, globalized economy. To locate these jobs and the people working, places and housing stock are needed near the city center. However, the eligible areas were already occupied and …