25.04.2025 12:41
After the 6.2 magnitude earthquake that occurred in Istanbul, opportunists sprang into action. Just minutes after the earthquake, exorbitant price increases were made for housing, tents, and transportation. Deputy Minister of Trade Mahmut Gürcan stated that the inflated prices have been identified one by one and emphasized that profiteering will not be tolerated.
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After the 6.2 magnitude earthquake that occurred in Istanbul, the influx of some citizens to different cities has driven up housing and rental prices in those areas. Hakan Akçam, the President of the All Real Estate Consultants Union (TEDB) and the Ankara All Real Estate Agents Chamber (ATEM), reacted to the unjust price increases in the real estate sector following the earthquake.
EXORBITANT PRICES HAVE EVEN SPREAD TO ANKARA
Stating that there has been an increase of 8 to 10 percent in rental and sales prices in Ankara after the earthquake, Akçam described the rise in housing prices as 'opportunism.' Akçam emphasized, "It is of great importance for homeowners to act in accordance with the spirit of social solidarity. Opportunistic homeowners should not call real estate consultants." He highlighted the importance of social solidarity, unity, and togetherness during extraordinary times like earthquakes, saying, "We sadly see that some homeowners are trying to take advantage of our citizens' difficult situations after the disaster. The unjust increases in rental and sales prices, especially due to the expectation of migration in Ankara, have deeply saddened us."
In a statement addressing homeowners in Turkey Newspaper, Akçam said, "Exhibit a correct attitude for humanity's sake, set opportunism aside. Acting opportunistically during an extraordinary period like an earthquake is not a behavior that the social conscience will accept. As TEDB and ATEM, we will continue to stand by our citizens and work in cooperation with our ministry to ensure justice," he stated. TEDB President Akçam emphasized their support for the Ministry of Commerce's efforts to prevent injustices that may arise in the real estate sector after the earthquake, stating that TEDB and ATEM will fulfill their responsibilities in the fight against unjust price increases.
ADMINISTRATIVE SANCTIONS AGAINST OPPORTUNISTS ARE COMING
Deputy Minister of Commerce Mahmut Gürcan stated that the ministry is closely monitoring all situations that may develop against citizens in the real estate sector after the earthquake and is continuously working to prevent practices that would cause citizens to suffer. Gürcan said, "The importance of social solidarity, unity, and togetherness during extraordinary times like earthquakes is greater than ever. It is crucial for all our citizens, along with our businesses, to act with a sense of social responsibility during this sensitive period. No attitude or behavior that aims to take advantage of our citizens' difficult situations, which can be classified as opportunism, will be tolerated. In this context, information regarding the listings of properties for sale and rent that have seen price increases after the earthquake in Istanbul is being obtained from listing platforms, and necessary administrative sanctions will be applied decisively and without delay against all real and legal persons found to have engaged in unjust price increases," he stated.
PRICES OF TENTS AND EARTHQUAKE KITS HAVE SOARED
After the earthquake that occurred in Istanbul, citizens turned to earthquake kits and tents. While there was a noticeable increase in the sales of these products on e-commerce platforms, it was observed that sellers were engaging in "opportunism." The price of an emergency kit that was sold for 373 lira before the earthquake rose to 465 lira afterward. Similarly, a first aid kit that was sold for 219 lira was found to be sold for 389.50 lira. The changes in tent prices also reached remarkable levels. A tent described as having two rooms and accommodating 10 people was sold for 8,711 lira before the earthquake, while the price of the same product rose to 9,480 lira.
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