Turkey has a lower monthly cost of living than western countries, which explains why it is a standard option for ex-pats. The figures below are just estimates and differ significantly depending on the type of property and its location. Of course, anyone who uses the property as a vacation home just a few times a year can save money. Is buying property in Turkey a good investment? Yes it is!
Monthly Utility Bills
Electric bills for a two-bedroom apartment range from 80 to 200 liras per month. Aircon units use a lot of energy and are a significant contributor to high electricity bills. As a result, some people reduce their energy bills by installing stand-up or ceiling fans.
In Turkey, gas is usually used only for the hob. It is sold in big bottles and costs about 90 liras at the moment. Depending on how much you use your hob, a large gas bottle can last 6 to 9 months on average. A gas bottle will last you about 2/3 years if you use your Turkish real estate a couple of times a year.
Traditional water meters are increasingly being phased out in favour of pay-as-you-go meters. On average, prices start at around 1 Turkish lira per cubic metre. A large family can budget about 30 lira per month for water.
Bottled water – delivered
A 19L bottle of water costs 9 lira at the moment. The speed at which you go through it is determined by the number of people in your family. Ideal for use with a water dispenser, particularly during the summer months when you drink more cold water.
For year-round permanent living, the Internet would cost about 50 lira per month. If you use your property as a vacation home, you can rent dongles from companies that will deliver them to your door. If you live in Turkey full-time, you can get Wi-Fi internet installed for about 60 lira per month for unlimited use.
The fee for your council tax varies depending on the number of people on the Tapu (title deeds) and your land price. An average two-bedroom apartment will set you back about 150 lira per year, but this will vary depending on where you live.
This is an annual one-off tax collected with the council tax and is about 90 lira a year.
DASK insurance and home cover
It is required by law to have earthquake insurance. The price varies depending on which company calculates it based on the square footage of your property. If you add contents and fire insurance to a 70 sqm home, the cost rises to about 250 lira per year.
Service Charges on a complex
If you buy an apartment or villa in a complex, you must pay a monthly maintenance fee. This fee goes into shared power, water, pool cleaning, pool chemicals, and all other communal amenities, as decided by the official management committee. They range in price from 300 to 2000 lira per year, depending on how many amenities there are.
A villa with a private swimming pool also needs upkeep, so you can either learn to do it yourself or hire a company for about 500 lira to do it for you. If you live there all year, villa owners typically keep their swimming pools open from May to October.
If you use your home as a vacation rental, you might want to hire a maintenance company to perform inspections, handle expenses, and clean your home before you arrive.
The cost of residency fees and health benefits must be factored in if you want to live in Turkey all year. All prices are in Turkish Lira, but Google or XE.com is used to convert them to Euros, GBP, or USD.