OREANDA-NEWS An earthquake of magnitude 3.5 occurred in the Turkish province of Yalova at a distance of about 50 kilometers from Istanbul, there are no reports of damage, the Office for Disaster Management (AFAD) reported on Wednesday.

A 3.5 magnitude tremor occurred at about 09.21 local time (coincides with Moscow time), the hearth lay at a depth of about 9 kilometers in the Sea of Marmara.

In turn, seismologists at the Kandilli Observatory reported that the hearth lay at a depth of about 4 kilometers and estimated a magnitude of 3.7.

No damage has been reported yet. Turkish media reported that an earthquake was felt in some areas of Istanbul. The RIA Novosti correspondent did not feel any tremors in the European part of the city.

According to the calculations of the Istanbul Mayor's Office, in the event of a 7.5 magnitude earthquake, at least 90 thousand buildings will collapse in the city, about 4.5 million citizens may need temporary housing. Insurance companies expect the damage from the earthquake to exceed $325 billion.

One of the branches of the North Anatolian Fault runs in the Marmara Sea exactly off the coast of Istanbul. Scientists predict a powerful earthquake with a magnitude above 7 in Istanbul and the Marmara Sea region, the economic consequences will be felt by the whole of Turkey, Professor of seismology, member of the Council of Scientists of the Istanbul Mayor's Office on earthquake issues Halyuk Eyidogan told RIA Novosti earlier. Istanbul provides 35% of the country's GDP, he noted.