Turkey, noting significant progress with its developing economy in recent years, investments in construction and real estate sectors, is becoming a center of attraction for institutional and individual investors. In this process, the country offers significant opportunities to foreign investors who need to master local dynamics to make successful investment decisions. As Trem Global team, we are closely following developments in order to provide support to investors in real estate acquisition and investment issues, which are highly dependent on internal and external factors and have unique problems, with our experienced and industry-dominated staff. In order to meet the needs of our customers in Turkey, and to help them achieve successful results in investment decisions we present Real Estate Acquisition and Investment Guide in Turkey to the investors, where we provide sector-specific knowledge. The information in this guide is general, not social, tax or legal advice.
Compulsory earthquake insurance is generally an insurance system developed for the dwellings within the municipal boundaries. To the buildings which are registered as title deeds and which are built as private houses on the immovables subject to private ownership, to the independent sections within the scope of the Floor Ownership Law, to the independent sections used within these buildings for commercial purposes, offices and similar purposes, to the houses built by the state due to natural disasters, easement has been established in the buildings, the deed has not yet been revised and the title deed in the qualification of land, etc. buildings that appear as, land cooperative houses have not yet been allocated mandatory earthquake insurance is required.
Insurance for dwellings that do not yet have independent title deeds can be made based on the declaration of the insurer and with the information of the land title deed.
Buildings outside the scope of insurance as follows: Buildings registered in the village account and built by the inhabitants of the village and the surrounding areas and hamlets, all commercial or industrial buildings, buildings which do not have a project and have not received engineering services, buildings determined to be modified or weakened in a way that adversely affects the carrier system, buildings constructed in contradiction with the relevant legislation and project in a way that adversely affects the carrier system, buildings decided to be demolished by the authorized public institutions and buildings that are not suitable for use as abode, disrepair, dilapidated or abandoned.