I am a foreigner, can I afford to live in Turkey? Turkey’s monthly cost of living is lower than that of western countries. Which explains why it is a popular choice among ex-pats. The statistics below are only estimates that vary greatly based on the type of property and where it is located. Of course, someone who uses the property only a few times a year as a holiday home can save money. Is it wise to invest in Turkish real estate? Yes, it is. A good read is I want to buy a property in Turkey, is it possible?
Utility bills every month
The cost of electricity
Monthly electricity costs for a two-bedroom flat in Turkey range from 80 to 200 liras. Air conditioners can be expensive and contribute significantly to high electricity costs. As a result, some people opt to install stand-up or ceiling fans to save their energy expenditures.
The cost of gas
Gas is usually only used for cooking. It is offered in large bottles and now costs around 90 liras. A large gas bottle can last six months on average, depending on how much you use your stove. If you utilize your Turkish real estate a couple of times a year, a gas bottle will last you around 2/3 years.
The cost of water
Pay-as-you-go meters are increasingly being used in place of traditional water meters. Prices per cubic metre start at roughly 1 Turkish lira on average. Water costs approximately 30 lira per month for a large family.
Delivered bottled water
At the moment, a 19L bottle of water costs 9 lira. The amount of individuals in your family determines how quickly you go through it. Ideal for use with a water dispenser, especially during the summer months when cold water is consumed more frequently.
Internet access at home
The Internet would cost roughly 50 lira per month for a year-round permanent dwelling. You can rent dongles from organisations that will send them to your door if you use your property as a vacation home. If you live in Turkey full-time, you can get unlimited Wi-Fi internet for around 60 lira per month.
Costs per year
Taxes levied by the municipality
Council tax costs are determined by the number of individuals on your Tapu (title deeds) and the value of your land. A two-bedroom apartment costs around 150 lira per year on average, though this varies depending on where you live.
Refuse tax payments
This is a one-time annual fee collected along with the municipal tax and amounts to around 90 lira per year.
Home and insurance including DASK
The purchase of earthquake insurance is compulsory by law. The cost varies depending on which provider estimates it based on your home’s square footage. The price of a 70 sqm property with belongings and fire insurance is around 250 lira each year.
Charges for a complex’s service
You must pay a monthly maintenance charge if you purchase an apartment or villa in a complex. This cost funds shared electricity, water, pool cleaning, pool chemicals, and any other communal amenities determined by the official management committee. They cost between 300 and 2000 lira a year, depending on how many facilities are included.
A villa with a private swimming pool requires maintenance, which you can learn to do yourself or pay a business to do for you for around 500 lira. Villa owners often keep their swimming pools open from May to October if you live there all year.
If you rent out your house for vacations, you may want to employ a maintenance business to do inspections, manage expenses, and clean your home before you come.
If you wish to live in Turkey full year, you must consider the expense of residency fees and health benefits. All prices are in Turkish Lira, but they are converted to Euros, GBP, or USD.