World Bank estimated cost of Turkish residential rebuild

In December 2021, the World Bank estimated that retrofitting or rebuilding millions of residential buildings in Turkey to withstand an earthquake would cost almost half a trillion dollars.

The bank was at the time providing "technical assistance" to the Turkish government to help it meet the "massive finance needs" necessary to undertake the urgent work. 

It warned that "most housing stock in Turkish cities built prior to 2000" was "highly vulnerable to seismic and climate hazards" and required "urgent strengthening".

But it said only about four percent of 6.7 million residential buildings across the country had been updated. It estimated the overall cost of the work would be $465bn.

World Bank estimated making Turkish homes safe would cost $465bn