Following changes in international trade policy and the impact of globalization, Turkey’s major cities underwent urban transformation processes after the 1980s. Istanbul benefited the most from these transformation processes because it is the country’s most important economic, cultural, and tourism center, as well as its most integrated center in the world economy. During the last quarter of the twentieth century, Istanbul, the country’s most important economic, cultural, and tourism center, located in a very strategic location between Asia and Europe, underwent a tremendous urban transformation. At the same time, Istanbul is a world-renowned city for its natural beauty and historical monuments, which reflect its historical role as the capital of three separate empires. It has the distinct advantage of having shorelines on the Black Sea, the Marmara Sea, and the Bosphorus Straits. Furthermore, it has strong international ties with other countries.
Istanbul is Turkey’s largest city, and its population increased from 1,000,085 to 10,018,735, primarily due to rural migration, between 1950 and 2000. Its rapid population growth has resulted in its expansion and, as a result, multi-center development of the city in the periphery, as well as an increase in density in the existing neighborhoods.
The uniqueness and universality of decentralization and the reshaping of the economic landscape in metropolitan areas have received a great deal of attention in recent decades. The role of globalization in multi-center city development has also been investigated in a number of studies conducted in both developed and developing countries. For Example, restoration of old buildings, regeneration, and transformation of urban functions; on the other hand, pedestrianization of the Main Street and construction of the metro contributed to the socio-economic development of these declining zones. This process raised real estate prices and drew national and international real estate investors.