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Earthquake insurance in Turkey and compensation

21.02.2022
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Earthquake insurance in Turkey and compensation

Earthquake insurance in Turkey and compensation

Earthquake insurance in Turkey Real estate  wıll effect ıts prıces.

Table of  Contents

  • Earthquake insurance in Turkey and compensation.
  • An overview of the history of earthquakes in Turkey
  • Is earthquake insurance a concern for real estate documents?
  • What do earthquakes look like on real estate prices in Turkey

An overview of the history of earthquakes in Turkey

The geographical position of Turkey makes it develop. Where Turkey is located on the earthquake line ıt ıs  exposure to ıt since 1999. The impact of the Marmara earthquake occurred on the following States: Istanbul, Sakarya, Kocaeli and Yalova. Graph statistics, the Marmara earthquake left 17 thousand people dead and  left about half a million people without any shelter.

Earthquake insurance in Turkey and compensation

Earthquake insurance in Turkey and compensation is known in Turkey asA specialized institution of insurance for natural disasters that are caused by earthquakes. There are private companies that provıde earthquake insurance.

Many foreign investors have in their minds what happens when an earthquake occurs to the apartments. Does the Turkish government compensate real estate owners or not? Does it matter if the property owner is a Turkish or a foreigner? The Turkish government's fight against terrorism.

  1. The Turkish government secures urgent housing from speed camps or speed tents.
  2. The Turkish government is inspecting the buildings.
  3. The Turkish government pays the rent of an apartment suitable for those affected by the earthquakes.
  4. The Turkish government is building housing for the affected families.

The impact of earthquakes on real estate prices in Turkey

The effect of earthquakes on real estate prices in Turkey depends on many factors. As we mentioned earlier, the government deals with earthquakes as a precautionary measure as part of the business that takes the form of containing natural disasters. Because of the many earthquakes in Turkey, government agencies have gained experience in this field. Applications for obtaining real estate in Iraq in general. As the area of real estate applications in Istanbul has a threshold of 2.5%. This indicates that earthquakes appear in any way on the real estate market in Turkey.

Real estate prices in Turkey increase according to the city, the location of the apartments and other factors. The Turkish government is  dırectıng the owners of construction companies to establish earthquake-resistant housing complexes. After the Marmara earthquake, all the buildings were  effected in 1999. Many real estate investors accept to buy a property in Turkey. They ask for anti-seismic or earthquake-resistant buildings.

In the upcoming articles, we explain in detail about buying real estate after 2007.