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EARTHQUAKE FEAR SKYROCKETS PRICES OF PREFABRICATED HOUSES IN İZMIR

 * News
 * Turkey

 * November 13 2020 07:00:00

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EARTHQUAKE FEAR SKYROCKETS PRICES OF PREFABRICATED HOUSES IN İZMIR

ISTANBUL

The increase in demand for prefabricated houses has caused the prices of
demountable structures for sale in Turkey’s Aegean coast to increase by 40
percent in two weeks, after a magnitude-6.6 earthquake that shook the region on
Oct. 30.

Prefabricated houses, which were offered for sale at a price between 70,000 and
100,000 Turkish Liras ($9,000 – $12,750) in İzmir province before the earthquake
that killed 114 people, are now appearing to buyers for sale for 150,000 to
200,000 Turkish Liras ($19,000 – $25,500), according to Rıdvan Akgün, the
chairman of the İzmir Real Estate Club.

“İzmir residents are looking for a parcel or plot of land for prefabricated
housing. Due to this, supply and demand increased,” Akgün said.

Noting that the prices of detached houses also increased after the earthquake,
Akgün stressed that the prices of villas increased by almost 50 percent in the
same time period.

“We see that the villas, which were sold for 1 million Turkish Liras [$127,000]
two weeks ago, are now being sold for 1.5 million Turkish Liras [$190,000],” he
added.

Soil liquefaction poses danger to Istanbul

Meanwhile, experts have warned for an immediate need to take precautions against
an expected big Marmara earthquake, noting that one of the biggest risks is
“soil liquefaction.”

Oğuz Gündoğdu, a geophysicist from Istanbul University, says lands reclaimed
from the sea, especially coastal promenades and Istanbul’s Avcılar district, are
under high risk due to soil liquefaction.

Gündoğdu said buildings in the city need to be inspected for the ground they are
built upon, citing a heightened risk.

“Liquefaction aggravates waves of tremors and affects the balance of buildings.
Istanbul’s Avcılar and Ataköy settlements are particularly risky areas. We see
what happened in the 1999 earthquake where a coastal strip, reclaimed from the
sea, was shattered and collapsed back into the sea,” he said.

Nusret Suna, the head of Istanbul Chamber of Construction Engineers, also warns
that the roads built on areas reclaimed from the sea may also pose a risk.

Suna said any extraordinary movement, tremors or vibrations cause ground with
soil liquefaction to lose its capability to carry the load above, namely,
buildings.

“This is not the case for all of Istanbul, but liquefaction risk exists
especially in areas with alluvial soil, sandy ground and areas where underground
water levels are high,” he said.

Following the Marmara earthquake in 1999, soil liquefaction has been a pressing
issue Turkish experts having been calling on authorities to look into.

More than 17,000 people were killed in 1999 when a 7.4-magnitude quake struck
the western city of İzmit, 90 kilometers southeast of Istanbul.



Izmir,


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