What do you expect if you decide to live in Turkey? The monthly cost of living is lower than in other European countries. Which explains why it is a common choice for ex-pats. The figures below are estimates that vary greatly depending on the type of property and its location in Turkey. Anyone who rents their property out as a holiday home a few times a year will save money. Buyers also inquire as to why property in Turkey is so inexpensive.
Electricity bills are due every month
Monthly electricity costs for a two-bedroom apartment vary between 80 and 200 liras. Aircon units use a lot of energy and generate many electricity bills, particularly during the summer. As a result, some people save money on their energy bills by installing ceiling or stand-up fans.
In Turkey, gas is usually only used for the hob. It costs about 90 liras and comes in big bottles. A large gas bottle will last up to 9 months, depending on how often you use your hob regularly. A gas bottle will last you around 2/3 years.
Pay-as-you-go meters are gradually replacing old-style water meters. The cost per cubic metre is approximately 1 Turkish Lira. Water costs about 30 lira a month for a large family.
Big bottles of water for drinking
9 lira for a 19L bottle of drinking water Ideal for use with a water dispenser, particularly in the summer when you drink a lot of cold water.
Internet access at home
For full-time use, the Internet costs about 60 lira per month. You can rent dongles from companies if you use your property as a vacation home. You can get unrestricted Wi-Fi internet for around 60 lira a month if you live in Turkey full-time.
The annual costs of buying a home in Turkey
The council imposes taxes:
The amount of council tax you pay is determined by the number of people on your Tapu (title deeds). The value of your property is also taken into consideration. A two-bedroom apartment will set you back around 150 lira per year, depending on where you live.
This is a one-time annual tax of about 80 lira imposed in addition to the council tax.
A DASK policy is a form of liability insurance
It is a legal requirement to have earthquake insurance. The cost is determined by the company that measures it based on the square footage of your home. A 70m2 home’s contents and fire protection costs about 250 lira per year.
Fees for complex programmes
There will be a yearly maintenance charge if you buy an apartment or villa in a complex. This covers the cost of the complex’s electricity, communal water, swimming pool maintenance, pool chemicals, and all other communal facilities as determined by the complex’s management committee. They cost between 300 and 2000 lira per year, depending on the number of facilities on site.
A private villa with a swimming pool needs maintenance; you can do it yourself or hire someone to do it for you for 500 lira. If you live there year-round, the pool is usually open from May to early October, depending on the weather. If you rent out your house, you can hire a company to come in and inspect it for you and handle all of the expenditures and cleaning before you arrive in Turkey. If you want to live in Turkey all year, you must add in the expense of residency fees and health insurance, which is not costly. All of the prices are in Turkish Lira, but they are converted to Euros, pounds, or USD.