DASK Insurance - Avoid After Shocks When Investing in Istanbul

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A major new urban transformation project to rebuild hazardous structures is about to get underway in the Spring (Source: Sabah Daily). This latest project is seen as preparation for the 60% probability of a 7.6-magnitude earthquake striking Istanbul before 2030. This is why investors too should have the opportunity to cover themselves by being made aware of the importance of DASK insurance according to http://www.colordarcy.com.

Istanbul Property Dask Insurance

Istanbul Property Investment Are You Covered?

Having this insurance in place is good for the investor as it will insure a property against the possibility of turning into a pile of rubble and losing all the money that was invested.

They don’t call it the San Andreas of the East for nothing say http://www.colordarcy.com Turkey investment analysts. Istanbul lies on one of the most restless fault lines in the world (Source IRIS), so the chances of a major earthquake striking at any time are high.

This should alert us to the importance of getting the right cover for our Istanbul property investments before the worst happens. The Turkish government have made this easy for you by making insurance compulsory for homeowners. This insurance is known as DASK insurance.

DASK is the government’s own attempt to tighten up on construction standards in the country by refusing to issue the insurance to new developments that fail to pass a minimum standard of safety.

Loxley McKenzie MD of http://www.colordarcy.com said, “Having this insurance in place is good for the investor as it will insure a property against the possibility of turning into a pile of rubble and losing all the money that was invested.”

On the other hand http://www.colordarcy.com says investors should be made aware that if a building was constructed before 2007, checks should be made to make sure the building complies with earthquake safety rules. The seller should also be in a position to provide a Use of Building Permit or a Habitation Certificate.

To be passed for DASK insurance, all new buildings built since 2007 have been built according to TSE standards, similar to the UK British Standard or other similar codes of practice. They must also have a full minimum 5-year structural guarantee similar to the UK NHBC scheme.

To arrange DASK earthquake insurance on a property, investors will need to provide a copy of the Tapu (Title Deeds) plus passport numbers of all people named on the Tapu, the size of the property or land in square metres and the address.

Notes to the editor:

Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Atlanta, Brazil, Florida, Turkey and the United Kingdom.

For more information, supporting pictures or logo artwork, please contact:

Steve Billing
PR Manager

Tel: +44 (0) 207 100 2393
Email: press(at)colordarcy(dot)com

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