Earthquake Resistant New Real Estate in Istanbul

One of the most important things that real estate investors ask or want to buy real estate in Istanbul is the quality of the building and its earthquake resistance in Turkey, we bring this article to you where we explain the Disaster Prevention Law in Turkey.

In recent years, protecting buildings from earthquakes has become an important matter that needs to be studied and considered before launching any project or residential complex in Istanbul. Residential complexes constructed under earthquake safety conditions and controls, it has been confirmed by research that earthquake damage to buildings is due to their non-compliance with the Earthquake Disaster Prevention Law.

Recently, the Turkish government has taken steps to increase safety standards for new buildings and modern homes, and to renovate and retrofit older buildings to make them earthquake-resistant. The Ministry of Urban Environment released the disaster preparedness plan at the same time as it issued new regulations on earthquake safety standards.

The Turkish government closely monitors the buildings under construction as all materials used to build them are inspected and a team from the ministry conducts patrols to ensure safety standards in residential and commercial buildings.

What is earthquake insurance in Turkey?

According to the Turkish government, earthquake insurance in Turkey is a compulsory insurance that covers the construction costs after damage to buildings caused by natural disasters such as earthquakes, fires, and collapses, and economically assists owners in post-reconstruction, the Turkish government in 1991 The devastating earthquake claimed many lives and many material and spiritual losses in the aftermath. This insurance is deducted by the Natural Disaster Insurance Company, or "DASK" for short, which is directly regulated by the Turkish Ministry of Finance.

The owner pays for this insurance directly when picking up the keys, and can enjoy all government services, such as electricity, water, gas, communication, Internet, etc. This is because without a DASK policy, all previous benefits cannot be claimed. After registration, the payment mechanism for earthquake insurance is only made at DASK agencies on certain dates each year. The mechanism for paying these amounts is at a branch of a Turkish bank or through the post office or at the office of the insurance company.

Is earthquake insurance important in Turkey?

The importance of the Earthquake Insurance Law in Turkey is to maintain the safety of buildings from demolition and their ability to resist earthquakes, thereby reducing the likelihood of earthquake damage and also helping to reduce material costs and expenses incurred by property owners due to natural disasters. This insurance makes condo builders aware of the importance of constructing strong disaster resistant buildings and residents' awareness of protecting their property and rights by purchasing earthquake insurance from government agencies. It is also important to assess the damage and cost needed in an earthquake or disaster After repairing the building.

Does earthquake insurance in Turkey cover all buildings?

Real estate covered by earthquake insurance is residential real estate registered with the National Land Registry, such as condominiums, villas, apartment complexes, and government buildings, in addition to office real estate and businesses, which are registered with the Land Registry as compensation to residents in the event of a disaster. This includes exclusive floors such as B. Services. and roof.

Additionally, the Earthquake Insurance Act covers easements and buildings that do not meet structural requirements and are classified as commercial.
On the other hand, there are buildings that are not covered by earthquake insurance and this includes buildings that are not even subject to national building codes, abandoned homes and offices, and buildings in rural areas that do not comply with the law and have not received planning permission at all, Or received a demolition notice from the government.

What does earthquake insurance cover in Turkey?

This insurance covers expenses incurred in the event of any of the following damages caused by an earthquake or natural disaster:

• Basics of real estate construction
• Property walls or property gardens related to villas and detached houses
• Ceiling
• Flooring
• Hallway in a building
• Stairs and Elevators

On the other hand, this insurance does not reimburse the following expenses:

• Home and Office Furniture
• Items in the store
• Rent compensation
• Death toll
• Unemployment
• Physical and mental harm
• Transportation costs to your new home or office
• Debris removal and disposal costs

What documents are required from the owner to purchase earthquake insurance in Turkey?

• A copy of the identity card of the property owner
• Tax number
• Earthquake insurance premium payment receipt
• A copy of the Tapu with sufficient information about the property
• The full address of the property.

How Much Does Earthquake Insurance Cost for Turkish Real Estate?

The value of insurance varies according to the following facts:

• Building age
• Lot size and number of rooms
• The location of the property.

For more information, you can contact us