Konya Novada and M1 Shoppıng Mall Precedent Study Andcomparıson on the Impacts of Bad Envıronment on Real Estatevalues

Abstract

A number of elements positively or negatively affect the value of the real estates. As it is known, real estates consist of the land and the plants and annexes built on the land. The plants on the land are exposed to physical, functional and environmental attrition. Physical attrition occurs over time in relation to building quality and material quality of the structure. Functional attrition is the loss of convenience of the building as to usage and daily fashion. Environmental attrition, which is distinct from all of these, is the impairment caused by negative environmental conditions. In this study, the subject of real estate valuation is explained briefly and the impacts of environmental conditions on real estate values is examined. For the application, regions which have equal proximity to the Konya Intercity Bus Terminal and have similar attraction centers has been chosen albeit, one of the regions is an industry-dominated zone. Data related to the precedents in the study region have been collected. The land capitalization ratios were calculated and compared in the light of these data. As a result of the comparison, it has been concluded that the surrounding environment has low levels of impact on the real estate in the NOVADA and M1 Shopping Mall regions.