vision turkish properties

COST OF LIVING


The Aegean coast is by far the most beautiful, and for many Turks and foreigners, the main choice as a holiday destination.  In Marmaris, Bodrum, Kusadasi, Fethiye and Didim, the prices are a lot lower. The general cost of living for a family is around 3000 lira before rent. This has made these areas a hot spot for many ex pats and foreign investors. In cities like Istanbul,Ankara and İzmir the costs will be higher and will also vary according to your life style

 The minimum wage in Turkey has risen a lot in the past few years, with its most recent jump from 1780 to 2000 lira, with the employer paying all retirement and health costs, known as SGK.  A single person with this income, after having to pay rent, would have a very basic life indeed.

 The current exchange rate is making Turkey a very interesting place for people to retire to. Many who have retired, and receive monthly pensions from their own county, find that the excellent exchange rates have meant that their Euros, Pound or Dollars now equate to much more lira than before.

The bank interest rates on saving accounts are a fantastic way to have your money work for you.  If you put some of your hard-earned lira into a Turkish bank account, banks are currently offering around 20% interest rates with monthly or 3 monthly payouts. Many expats use this as their “Pay Day”

 

   Let’s look at general monthly costs.

 

House hold bills.

This normally comes to a shock for many, as owning a house in Turkey does not come with the endless fixed bills that we see in many countries. No Tv licenses no huge monthly council taxes.  

Gas: Some areas have natural piped gas but most people by a bottle from a local shop costing around a 100 lira and lasts for cooking between 3 and 6 months and in some cases if you don’t cook much, up to a year.

Electricity: Of course, this all depends on air conditional usage and how you heat your water, be it solar panels or electric heating. Generally a 2 bedroom apartment is around 100 lira in summer and 200 in winter months.

Water: 40 lira a month

Complex Fee: All depend on the size of your complex but this can range from 100 to 500 lira a month

Council tax: Roughly 200 lira a year per person registered on the Tapu and may vary dependant on price band of your property

Home Insurance:  This is completely dependent on your property and its contents. From 300 to 3000 lira.

Internet: The one thing that we cannot live without these days, the all-important internet. This is on average around 70 lira per month. Good offers can always be found as there are many companies around, all fighting for your business.

 

Smoking and drinking.

This used to be extremely cheap a few years ago. However, over the last few years we have seen these items becoming highly taxed. But for many people these are still classed as cheap, with a packet of 20 cigarettes costing about 10 lira. Beer in shops around 10 lira and wine anything from 20 to 50 lira a bottle, depending on brand and quality.

 

Driving.

Owning a car In Turkey can be costly as fuel prices rise, many have chosen diesel or gas powered cars. A household would need to put about 3000 lira a year aside to cover taxes, insurance, mot and services.

 

 

 

Health care and residency.

You must hold a residency permit to live in turkey, if you want to stay longer than 90 days within a 180-day period. You must also have health insurance if you are under 65. Many people choose the government run SGK healthcare scheme. This would mean a married couple would need to put aside around 7000 lira a year.

 

Here at Vision we have long term market knowledge coupled with an understanding of both European and Turkish culture. We have a modern company structure with a multilingual team , who demonstrate a professional work ethic at all times. Our data base is current and we guarantee our clients an excellent standart of personal service.We believe our years of experience have made us big enough to offer you a broad range of properties and related services, yet small enough to offer a personalised service that is right for you.