Governance Strategy Model for Earthquake-Prone Urban Areas: A Türkiye-Focused Perspective

This study investigates a conceptual Regional Real Estate Governance Strategy Model for high-earthquake-risk urban areas, focusing specifically on Türkiye. While current approaches to managing seismically risky real estate prioritize structural safety, legal regulations, and subsequent technical urban transformation, economic, behavioral, and governance aspects affecting market outcomes are systematically overlooked. This study utilizes international academic literature, policy documents, and secondary institutional data to present an integrated governance model that systematically harmonizes seismic risk, market dynamics, and multi-stakeholder coordination. The research is qualitative and literature-based. This synthesis of relevant international literature, global best practices, and national policy context identifies critical mechanisms for the impact of seismic risk on real estate valuation, investment decisions, and market transparency. Based on this integration, a Hybrid Integrated Model (MIM) is proposed that clearly outlines the roles and interactions of public institutions, market players, and civil society in the management of seismically risky real estate markets. The proposed model, which emphasizes risk-sensitive pricing, open information sharing, and participatory governance as key determinants of sustainable real estate management in at-risk areas, allows for easy implementation. Addressing seismic risk as a technical, economic, and governance challenge, this study offers a practical and flexible framework for policymakers and implementers to improve market stability, market resilience, and long-term value preservation in developing countries at risk of earthquakes.