Some investors feel afraid of earthquakes in Turkey, this article for everyone who wonders how real estate prices are affected by earthquakes in Turkey.
Prviously, we talked about the most important factors that determine real estate prices in Turkey, however, we did not mention earthquakes , as earthquakes do not determine the price of real estate.
But the question is how are real estate prices in Turkey affected by earthquakes?
Experts explain, that only the prices of properties that were built before 1999 that are affected by earthquakes, as the Turkish government stipulated that the newly constructed buildings be in conformity with the standards of buildings built for earthquakes, and it also established earthquake insurance, all to avoid damages as much as possible.
After the Izmir earthquake, the Turkish government stressed application of these laws so that all newly constructed buildings meet the standards of earthquake-resistant buildings.
