Turkish real estate
Many foreign investors and residents in Turkey flocked to buy real estate of various types. They considered buying real estate a profitable investment opportunity, as real estate prices rise significantly annually, and some considered buying real estate an opportunity to obtain Turkish citizenship.
To enjoy the benefits of Turkish citizenship and obtain a Turkish passport
Given the importance of buying a property, this necessitated careful research into the specifications of the property that the individual wishes to buy
Many conditions guarantee you to choose a good property, but one of the most important conditions in Turkey is to buy an earthquake-resistant property, as Turkey is considered one of the earthquake-prone areas
Turkish government actions
The Turkish government has taken binding measures for the owners of construction projects to build earthquake-resistant buildings in Turkey in general and Istanbul in particular.
Where the facilities have taken care of protecting buildings from earthquakes to varying degrees and have taken all the standards set by the Turkish government to avoid any loss of life or property.
The Marmara earthquake was a bad memory in the memory of the Turks, as its intensity reached 7.6 degrees on the Richter scale, leaving about seventeen thousand people dead and leaving about half a million people without shelter.
The Turkish government imposed on those who want to buy a property to insure it against earthquakes, which is a mandatory insurance in Turkey related to both residential and non-residential real estate.
The importance of insurance against earthquakes and natural disasters lies in repairing the damage that may occur to property if it is exposed to natural disasters. The Earthquake Insurance Corporation is known as DASK.
The owner of the property is obliged to pay the insurance, and the tenant is not obligated to do so, and the owner of the property pays the insurance annually
What buildings are not covered by earthquake insurance in Turkey?
Village houses or those built in the countryside, or popular areas and do not obtain building permits and do not take into account modern building legislation in Turkey
Buildings not subject to building codes in Turkey
Buildings that have received demolition notice from the Turkish government
Abandoned uninhabited buildings
How is earthquake insurance calculated?
Construction site: the city, the building, the street, the age of the building, the building area
Earthquake insurance does not include:
rubble removal expenses
Deactivation of work
Furniture and merchandise losses
Physical damage and death
Expenses of moving to a new home or business
Damage in construction due to malfunctions in the construction itself
What is the importance of earthquake insurance in Turkey?
Ensuring the safety of the building and its resistance to earthquakes to reduce damages
Reducing expenses for real estate owners in Turkey when natural disasters occur
Repairing damages that occur after ground disasters