Kudüs’te Yabancıların Etkisiyle Mülkiyetin Değerlenmesi ve Emlak Piyasasının Oluşumu
Property Valuation and Formation of the Real Estate Market in Jerusalem Under the Influence of Foreigners

Summary/Abstract: Throughout the centuries of Ottoman rule, Jerusalem and its surroundings underwent various processes of transformation. The transformations that occurred in all areas during the second half of the 19th century, unlike those before, deeply affected the state, society, and cities. The initial individual interest of foreigners in the region, followed by their institutional presence, was among the visible effects of this transformation. The phenomenon of “existing in Jerusalem,” fueled by the struggle for influence of Great Powers over the Holy Lands, led to the appreciation of property values and the city's expansion. Despite not being located on major transportation routes, Jerusalem witnessed an unprecedented rise in its real estate market due to the increasing interest of foreigners, which contributed to population growth. This, in turn, spurred the emergence of groups dependent on property trade and mobilized both local and foreign real estate investors. The transformation process mentioned also coincided with the Ottoman state's focus on centralization and strengthening its institutional structure. The reforms prepared in the financial, administrative, and legal domains during this period were shaped to address emerging needs. The property reforms, designed to be implemented following the proclamation of the Tanzimat, were revised and applied in response to the pressures arising from the real estate market, which had been stimulated by foreign interest. The real estate market in Jerusalem, which began to revive in 1850, continued to expand and property values increased until the outbreak of World War I. This study examines the factors that contributed to the appreciation of property values in Jerusalem following the revitalization of the real estate market. Simultaneously, it also references the adaptation of property reforms, initially designed and implemented before the market's growth, to the newly emerging conditions. Within the scope of the study, sources compiled from different archives and a rich literature were utilized.

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