Whether living temporarily or permanently in Turkey, an enticing lure for many people who have relocated to the country is the cost of living. Frugal money savers or those in the fortunate situation to spend freely, find many opportunities to live cheaply. Before we break down the cost of living in Turkey, though, it is worth mentioning that expenses and prices differ across the country.

What is the most expensive place to live in Turkey?

Naturally, as with other countries, cities are the most expensive place to live, and in the case of Turkey, Istanbul ranks as the highest bracket. However, according to Numbeo, a number crunching data collector, Istanbul is still roughly 50% cheaper than London and 60% cheaper than New York. Perhaps the most startling aspect of life in Istanbul is the rent.
1500 lira a month is enough to rent a basic cheap studio apartment in a small neighbourhood on the outskirts. Whereas on the Aegean and Mediterranean coasts, rent prices start on average at about 500 lira. For the examples used in this article, we focused on someone living in the coastal resort of Altinkum. All quotes are in Turkish lira, and foreign property owners should convert to their currency using the exchange rate of the day. So what is the cost of living in Turkey?

Annual property running costs

As mentioned above, rental prices in Altinkum average 500 lira a month for a furnished apartment. Property owners don’t pay rent but need to factor in the following figures to maintain their property all year round.

1. Apartment Maintenance Fee: Using the condominium law, a manager governs any building with more than six apartments. They are responsible for maintenance of communal facilities such as lights in the hallway, lifts, swimming pools, games rooms, security, and gardens. The cost varies according to the number of apartments and the shared services, but an average price is 200 lira a month.
2. Council and Rubbish Tax: This yearly payment is calculated by how many people are on the title deeds (tapu). A 2-bedroom apartment in Altinkum is roughly 150 lira a year.
3. House Insurance: In Turkey, earthquake insurance is compulsory, and the cost depends on the square meterage. Apartments pay on average 250 lira a year. Prices are higher if you include fire, theft, and damages.

Household utility bills

Small market shops sell gas in bottles. The price is roughly 100 lira, and for a single person, they can last up to a year. People also do not have to pay for a television licence in Turkey. The main monthly household bills are electric, water, telephone and internet.

1. Electric: Turkey privatised its electrical distribution, and a separate company runs every region. In Altinkum, the company is Aydem who set three-time tariffs. A single person spending lots of time in the home pays roughly 130 lira a month. Air conditioning or electric bar fires increase the cost.  
2. Water: In Altinkum, some people are on prepaid water meters while others still receive a monthly bill. Astonishingly, bills only average 200 lira a year.
3. Internet and Telephone: The national provider of internet and phone is Turk Telecom, and various packages are available. Unlimited internet is approximately 50 lira a month, while minimal use of the phone to call abroad is 50 lira a month as well. Providers often have various campaigns, that turn out to be cost efficient and value for money.

Food and drink

The four top supermarkets are Migros, Tansas, Carrefour, and Bim, with the last holding a reputation as a budget shop. People often go to the weekly local markets for fruit, vegetables, and cheese because prices are immensely lower than supermarkets and quality is higher.

Meat lovers will be disappointed because lamb and beef are some of the most expensive food items in Turkey, so chicken is the main staple dish in many households. A bottle of pasteurised milk is roughly 4 lira and likewise for six eggs.

If you head out for the evening, expect to pay approximately 20 lira for pasta dishes, or 50 lira for steaks. A good old-fashioned English breakfast is available for 15 lira. Eating out is more expensive in beachfront restaurants because they pay higher rents. Save money by eating in places away from the beach including food.

Gone are the days when alcohol was cheap in Turkey. The resort of Altinkum still maintains low prices compared to other places though because the average price for an Efes beer in Altinkum is 10 lira, whereas, in Istanbul, this can easily double. A glass of wine averages 14 lira, while spirits average out at 17 lira.

Smoking and driving

Two of the most expensive day-to-day costs in Turkey are driving and smoking. Even though smoking is still cheaper than the UK, prices have risen considerably over the last few years as the government still adheres strictly to its anti-smoking campaign. A pack of 20 cigarettes is roughly 10 lira. Petrol in Turkey is expensive but in recent years; diesel, which dramatically cuts down the cost of getting about, has become popular.  

Residency and healthcare

Currently, for most nationalities, the cost is 370 lira for a first-time applicant including administration fees. Permits last one year and renewals after drop in price to 225 lira. Anybody under the age of 65 also needs health insurance, and for private policies, the cost varies dependent on the coverage and your current medical health. Many expat couples sign up to the state SGK health coverage costing 426 lira a month for both people. There is no discount for single people.
 
In conclusion, a non-smoking property owner in Altinkum, who does not drive and drinks occasionally, can easily get by on 1000 Turkish lira a month. Many expats in Turkey also live off their monthly interest from savings accounts, so they don’t have to touch their capital net worth.

This blog was originally published on Turkey Homes.