Beautiful Turkey has a lower monthly cost of living than other western countries, this explains why it is a popular option for ex-pats. Below are estimates and differ significantly depending on the type of property and its location within Turkey. Anyone who uses the property as a holiday home a couple of times a year can save money. Buyers often ask why is property cheap in Turkey?
Utility bills every month
Electricity bills for a two-bedroom apartment range from 80 to 200 liras per month. Air conditioners use a lot of energy and produce high electric bills, especially in the summer months. Due to this, some people reduce their energy bills by installing stand-up or ceiling fans.
Gas is normally used only for the hob in Turkey. It is sold in large bottles and costs about 90 liras. It varies on how much you use your hob on a daily basis; a large gas bottle can last up to 9 months. A gas bottle could last you about 2/3 years if you visit your home a couple of times a year.
Old-style water meters are being phased out in favour of pay-as-you-go meters. Costs are around 1 Turkish Lira per cubic metre. A big family can budget about 30 lira per month for water.
Drinking water in large bottles
A 19L bottle of drinking water costs 9 lira. Perfect to use with a water dispenser, particularly during the summer months when you drink more cold water.
The Internet for full-time use costs about 60 lira per month. If you use your property as a holiday home, you can rent dongles from companies. If you live in Turkey full-time, you can get Wi-Fi internet for about 60 lira per month for unlimited use.
Yearly costs of owning a property in Turkey
Taxes levied by the council
Your council tax fee varies depending on the number of people on the Tapu (title deeds) and the price of your land. A two-bedroom apartment will cost about 150 lira per year, but this will vary depending on where you live.
Tax on rubbish
This is an annual one-time tax of around 80 lira that is levied along with the council tax.
DASK insurance is a form of liability insurance
This insurance is required by law to have earthquake insurance. The price depends on which company calculates it based on the square footage of your property. Contents and fire insurance for a 70 sqm home costs about 250 lira per year.
Charges for complex services
If you purchase an apartment or villa on a complex, there will be a yearly maintenance fee. This pays for complex power, communal water, swimming pool upkeep, pool chemicals, and all other communal amenities, as decided by the management committee of the complex. They range in price from 300 to 2000 lira per year, depending on how many facilities there are on site.
Costs not included
A villa with a private swimming pool needs upkeep; you can either do it yourself or hire someone for 500 lira to do it for you. If you live there year-round, owners often run their pools from May until early October, weather depending.
If you let your property out, you can hire a maintenance company to inspect it for you and look after expenses, plus cleaning your property before you arrive in Turkey. The cost of residency fees and health benefits must be factored in if you want to live in Turkey all year, again it’s not expensive. All of the prices are in Turkish Lira, but Google or XE.com is used to convert them to Euros, pounds, or US dollars.