The Effect of 2023 Kahramanmaraş and Hatay Earthquakes on Real Estate Investment Behaviors

Turkiye is located in the earthquake zone due to its geographical location and has witnessed major earthquakes throughout history. These earthquakes caused many deaths and also caused great economic losses. In February 2023, Mw7.7, Mw7.6, Aand Mw6.4 earthquakes occurred centered in Kahramanmara & scedil; and Hatay, respectively. More than 50 thousand people lost their lives and more than 100 thousand people were injured in these earthquakes. The earthquake caused great destruction in 11 provinces (Adana, Ad & imath;yaman, Diyarbak & imath;r, Elaz & imath;& gbreve;, Gaziantep, Hatay, Kahramanmara & scedil;, Kilis, Malatya, Osmaniye and & Scedil;anl & imath;urfa). The study aims to identify differences in investment behavior in the real estate sector after the earthquake. For this purpose, a survey was conducted throughout T & uuml;rkiye. According to the empirical findings of the study, significant differences were detected between real estate investment behaviors before and after the earthquake. It was observed that the participants took into account factors such as whether the building was built in accordance with earthquake regulations rather than factors such as location, interior and exterior design, and price, when making investments after the earthquake. It was also determined that the participants preferred detached or low-rise buildings instead of multi-storey buildings after the earthquake.