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Living in Türkiye, a comprehensive analysis of the costs of living

Posted by Cayan on May 14, 2020
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Living in Türkiye, a comprehensive analysis of the costs of living | What you should know before making the decision to move

Living in Turkey, is expensive?

  • Most of you wonder before coming to Turkey and staying there whether living is expensive or suitable.
  • Living in Turkey is a key factor you should investigate before you make any important decision.
  • We used to provide you with useful answers and advice permanently through our articles.
  • Turkey is everyone’s favorite place and a convenient place to live and inexpensive.

 

  • Before we talk about the cost of living in Turkey, we would like to mention some of the key factors that will affect it.

 

Wages in Turkey

  • The Minimum Wage Committee holds a meeting to determine the minimum wage on certain dates each year.
  • New higher fees, including wages and taxes, will be announced after the meeting is completed.
  • At the last meeting in 2020, the minimum wage was TRY 2,943.
  • After deducting taxes and expenses, the amount is 2,565 TL.
  • The Turkish government requires the employer to pay the resulting health insurance and pension benefits.
  • With such a wage and health insurance coverage, anyone can cover their human needs for life.

Different cost of living by region

  • The living costs in Turkey will not be the same as in all countries in the world.
  • Living can’t be cheap in a place that is an important center of trade, economy, and tourism.
  • Istanbul is the most expensive city to live in in Turkey, is an important economic and tourist center.
  • Istanbul ranks 163rd among the most expensive cities in the world, which means it is very suitable compared to others.
  • High costs in Istanbul include elements of everyday life.

 

Some of the elements of everyday life:

  1. Food, clothing, housing, water, electricity, gas, and other fuels.
  2. Furniture, appliances, home care, health, transportation, communications, entertainment, culture, and education services.
  3. High rents for real estate such as houses, shops, and other expenses.

 

Classification of the Turkish Statistical Institute which covers 12 different regions:

  • The family’s monthly need to meet the needs of a suitable life is approximately 6760 Lira not including rent of a house or mortgage.
  • For cities close to the Aegean and Mediterranean, the cost of living is 20 percent lower compared to Istanbul.
  • The need for a family of two is reduced to 3,000 liras, not including house rent.

 

Living in Turkey, some details about the costs

Permanent residence, insurance, or health care:

  • After completing the number of days of temporary residence in Turkey, you will have to obtain a permanent residence permit.
  • Health insurance, you must obtain after obtaining residence, if you are under 65 years of age
  • You must pay approximately 3,500 each year, including accommodation and health insurance costs.

 

Private transport and maintenance:

  • The cost of fuel may not be high compared to Greece, Portugal, and others, but it is double compared to Russia and the United States.
  • Many desirable and frequently used diesel cars compensate for the high fuel cost.
  • With the calculation of insurance expenses, general maintenance, and taxes, the cost is approximately 5000 Lira per month.

 

Smoke and alcohol:

  • Turkey recently developed a plan aimed at reducing smoking and drinking alcohol because of health and material damage.
  • The Turkish government has imposed high taxes and raised prices in recent years.
  • monthly allowance for smoking a pack of cigarettes and a glass of alcohol amounts to approximately 1,000 Liras.
  • The number varies depending on the type of cigarette and drink.

 

Home services:

  • Compared to other countries that require you to pay for watching some TV stations, home utility bills are not expensive.
  • Compared to commercial and economic areas such as Istanbul, the cost is lower in remote areas.
  • The cost is approximately 600 Liras per month, including water, gas, electricity, internet, and insurance.
  • In Istanbul, the cost of home services rises to nearly 1000 Liras per month.
  • The place of living has an important role, so the cost of townhouses decreases and rises in residential complexes.

Connect and your internet:

  • You won’t have to think about it because you won’t feel the cost of it, which ranges from 50 to 150 liras per month, which varies depending on your phone and internet usage.

 

Real Estate and Investment in Turkey:

 

  • In conclusion our inspiring journey in Turkey, we invite you to explore the world of unique investment opportunities offered by our company.
  • If you dream of owning property in this beautiful country and obtaining Turkish citizenship, our expert real estate team is ready to fulfill this dream for you.
  • We promise to provide you with valuable advice and unparalleled offers. You can rely on our expertise and legal services for a safe investment experience, ensuring a successful and sustainable investment journey.
  • Feel free to submit your request now, as our real estate consultants will contact you to provide comprehensive answers to all your inquiries and offer the best available deals.
  • Our services extend from pre-purchase to post-property ownership, always aiming to provide a worry-free and comfortable experience.
  • Don’t miss the opportunity to inquire about the latest decisions regarding real estate ownership in Turkey and obtain Turkish real estate residency and citizenship.
  • Immerse yourself in our projects, and browse through the residential apartments, villas, and commercial properties available for investment.
  • We are here to make your dream a reality and look forward to being the ideal partner in your fruitful investment journey in the Turkish real estate market.

 

 

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