Two shops that have been operating in Istanbul since the late 19th century and 1936, respectively, yielded to a rise in rents after a new law was enacted last year, which dealt a blow to the city's nostalgia addicts.

Kelebek Corset Shop along the city's famous İstiklal Avenue closed on Dec. 10, in addition to another historic shop forced to close after property owners took advantage of a new law allowing them to evict tenants of no more than 10 years.

İlya Avramoğlu, a third-generation member of the family who runs Kelebek Corset Shop, which opened in 1936, decided to shut down as he cannot afford to pay the rent on the posh street near Taksim Square with the few daily sales he makes, as more people are choosing shopping malls over small shops like his to purchase garments. Avramoğlu told reporters the shop was a symbol of "shopping culture in Beyoğlu," where İstiklal Avenue is located, and survived a pogrom in the 1960s. But rising costs in the avenue - where rents skyrocketed due to fast economic growth and property development - forced them to close.

Last year, Pando, a breakfast cafe in Beşiktaş, which opened in 1895, was closed after its owner was ordered by the landlord to leave after the two failed to reach an agreement regarding the shop, located near a busy square of the district.

Though the new law that enables landlords to evict tenants without any legal process is lauded for helping economic growth, it also faces criticism of gentrifying the city's historical districts where crumbling buildings that are badly in need of renovation barely continue to stand the test of time.