Turkey has introduced tough measures against speculators in the real estate market following the earthquake

On 23 April 2025, an earthquake struck Istanbul, with the strongest tremor measuring 6.2 on the Richter scale. Following this, 200 weaker aftershocks were recorded. Although there were no fatalities, several hundred people were hospitalised.

Many residents began looking for earthquake-resistant homes. Some sellers took advantage of the panic by sharply raising property prices. In response, the Ministry of Trade imposed fines of approximately $380,000 on those responsible. These fines will be imposed on those who increased rents and housing prices following the natural disaster. The authorities will continue to monitor the real estate sector and take action against exploitative practices.

“We will continue to monitor developments in the real estate sector and take preventive measures against exploitative practices that harm citizens,” read the official statement. The Minister of Environment, Urbanisation and Climate Change, Murat Kurum, noted that approximately one third of the 1.5 million buildings in Istanbul affected by the earthquake require urgent transformation, adding that 'we cannot waste any time on this issue'.