Scholarlink

<p>Contemporary global crises—ranging from macroeconomic shocks to public health crises—have exposed structural vulnerabilities across economic systems, effects that are particularly pronounced in housing. As a sector characterized by high capital intensity, extensive investment horizons, and strong exposure to external fluctuations, housing remains mainly sensitive to such disturbances. These vulnerabilities have been further deepened by the neoliberal restructuring and financialization of housing—processes that have intensified its integration with volatile financial markets. Within this context, developers occupy a pivotal position, not only as producers of the built environment but also as key agents shaping how the sector absorbs and responds to crises. While firm size is widely associated with differences in financial capacity, organizational flexibility, portfolio structure, and technological adaptation, comparative empirical insights into how developers of varying scales navigate crises remain limited. Addressing this gap, this study examines how firm size conditions crisis response and resilience strategies among housing developers, taking Istanbul—a dynamic and highly financialized urban context—as its empirical setting. The methodology employed in this study is based on survey data that were obtained from 140 developer firms (73 small-scale and 67 large-scale) operating on both the European and Asian sides of Istanbul. Using a set of 28 indicators capturing strategic orientations and adaptive practices, the study employs Exploratory Factor Analysis (EFA) to identify the underlying patterns shaping developers’ responses to crisis conditions. This methodological approach enables a comparative assessment of how firms of different scales develop resilience strategies under crisis conditions. The findings indicate that firm size plays a decisive role in shaping resilience strategies. Large-scale developers tend to rely on more diversified, resource-intensive, and institutionally embedded approaches, drawing on strategic partnerships and structured risk management mechanisms. Smaller firms, by contrast, exhibit greater flexibility and dependence on social capital, yet their adaptive practices remain constrained by resource limitations and operational vulnerabilities, including bureaucratic burdens. These differences point to distinct modes of navigating uncertainty within the housing sector. By foregrounding the role of developers as active agents in crisis response, the study contributes to a more nuanced understanding of urban resilience and offers insights relevant to both policy design and sectoral risk management.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Housing market resilience strategies differentiated in Turkey’s developing sector: firm level analysis in Istanbul

  • 期刊论文

  • 发表日期：

    2026年8月4日

查看全文
  • Seyma Oztas,
  • Sevkiye Sence Turk

摘要

Contemporary global crises—ranging from macroeconomic shocks to public health crises—have exposed structural vulnerabilities across economic systems, effects that are particularly pronounced in housing. As a sector characterized by high capital intensity, extensive investment horizons, and strong exposure to external fluctuations, housing remains mainly sensitive to such disturbances. These vulnerabilities have been further deepened by the neoliberal restructuring and financialization of housing—processes that have intensified its integration with volatile financial markets. Within this context, developers occupy a pivotal position, not only as producers of the built environment but also as key agents shaping how the sector absorbs and responds to crises. While firm size is widely associated with differences in financial capacity, organizational flexibility, portfolio structure, and technological adaptation, comparative empirical insights into how developers of varying scales navigate crises remain limited. Addressing this gap, this study examines how firm size conditions crisis response and resilience strategies among housing developers, taking Istanbul—a dynamic and highly financialized urban context—as its empirical setting. The methodology employed in this study is based on survey data that were obtained from 140 developer firms (73 small-scale and 67 large-scale) operating on both the European and Asian sides of Istanbul. Using a set of 28 indicators capturing strategic orientations and adaptive practices, the study employs Exploratory Factor Analysis (EFA) to identify the underlying patterns shaping developers’ responses to crisis conditions. This methodological approach enables a comparative assessment of how firms of different scales develop resilience strategies under crisis conditions. The findings indicate that firm size plays a decisive role in shaping resilience strategies. Large-scale developers tend to rely on more diversified, resource-intensive, and institutionally embedded approaches, drawing on strategic partnerships and structured risk management mechanisms. Smaller firms, by contrast, exhibit greater flexibility and dependence on social capital, yet their adaptive practices remain constrained by resource limitations and operational vulnerabilities, including bureaucratic burdens. These differences point to distinct modes of navigating uncertainty within the housing sector. By foregrounding the role of developers as active agents in crisis response, the study contributes to a more nuanced understanding of urban resilience and offers insights relevant to both policy design and sectoral risk management.