Life in Turkey: The ‘Cost’ Factor

Turkey Real-Estate has been drawing quite some attention lately owing to its desirability among the European expatriates. The country is a perfect destination to start a fresh and blissful life as it offers a rich culture, countless tourist attractions including scenic locations and lively recreational spots, a stable economy and a welcoming atmosphere. Most of the expatriates that relocate to Turkey have nothing but nice things to say about the country’s ambience, awe-inspiring culture and a highly hospitable environment. Such encouraging elements and testimonies have made Turkish Real-Estate the apple of numerous foreign real-estate investors’ eye.

Although the aforementioned elements are indeed appealing, it is important to bare in mind the cost implications of relocating to a different region, which in the case of this blog is Turkey. As compared to its European counterparts, Turkey seems like a much more reasonable place to be at in terms of the cost of living. However, in the interest of further breaking things down for a potential dwellers knowledge, following are the specified expenses of day to day life if you wish to settle in Turkey:

• Residential Cost - First off, we have the cost of the property in Turkey, which, in the Istanbul and Antalya region, start from $60,000 for an apartment and go up to $85,000 Euros for a Villa. Though in case of renting a place to live, the monthly rent for an apartment is between $300 to $450, provided that the apartment is fully furnished and in close proximity with facilities such as grocery stores, schools, hospitals etc.
• Utility Expenses - Utility expenses include costs of electricity, water and janitorial services. The accrued Water and electricity taxes go up to $950 to $1000 a year. Though in order to know the janitorial services expense, the dwellers must get in touch with local council to find out their share of expenses.
• Connectivity Expenses - The cellular expenses go up to $20 a month. Though, if the expatriates opt for service packages from the cellular service providers, the expenses can be reduced down to $16 a month, whereby they can avail up to 2GB free internet, up to 500 free phone call minutes and up to 500 free text messages. As for the internet, the expenses are up to $20 per month. That too can be brought down to 15% less if the expatriates decide to opt for exclusive offers from the service providers. This implies that there is a lot of money to be saved in this regard.
• Maintenance expenses - People who decide to live in communities pay accumulated amounts against the facilities being offered in the community. The yearly expenses are incurred at $200 or more.
• Transportation Expenses - Regular transportation expenses vary from person to person based on their proximity from their respective daily destinations. However, the yearly transport expense for personal transport averages around $330 a year.
• Food and Grocery Expenses - Food expenses can be quite a bit if in case of dining at a restaurant as each meal can cost around $25 to $30 per person. The cost of food and groceries can be brought down to a significant degree if a dweller chooses to shop from the weekly local markets. For just under $15, enough groceries can be bought for more than a single person.

The cost of living in Turkey can vary from person to person based on their individual lifestyle. However, above it all, the Turkish culture, environment and hospitality should be considered to enjoy a privileged life once you buy property in Turkey. The Government’s policies serve as a testament to the Turkish hospitality as they encourage the foreign investors to relocate by offering them the opportunity of getting a residential permit upon investing $35000 in a property in Turkey. Even better, the potential dwellers can acquire Turkish citizenship if they invest up to $250,000 in the Turkish Real-Estate. These opportunities should be taken advantage of in order to settle in Turkey and live a peaceful and privileged life.