How Expensive is it to Live in Turkey?
As a country with borders to 8 different nations, set on both the edges Asia and European continents, and is a home to 80 million people, it can be hard to imagine just how affordable it is to live in Turkey. The country has been using its currency that is arguably the most affordable towards the developed nations' exchange rates. On January 1st, 2020, 1 Euro was equal to 6.67 Turkish Liras, while 1 USD weighted 5.94 Turkish Liras. With that calculation in mind, it is not hard to imagine just how easy it would be to live in the central hub of two continents. Especially if you have a savings on the developed nations' currencies, your every move will feel like taking a step in luxury.
Real Estate
The right investment could give you a return of double or the triple amount on your original payment in anywhere else in the world, with a high-risk level. In Turkey, the risks are minimal on wherever you invest in terms of property. You could buy a 3 Million USD luxury villa by the beautiful sight of Bosphorus in Istanbul, or a minimum $250.000 USD property for your citizenship and still find yourself in leisure. Even when you compare the rent prices with developed countries, a single bedroom apartment in downtown Istanbul, among 16 million people, will be cheaper than the 5 million populated London, UK.
If you seek a vacation home for your getaway from all the city chaos, Turkey is a country that experiences all four seasons in between its seven regions. For those who want a summer house by the Aegean Sea, with still wanting to experience the wind of the Fall season, beautiful villas are waiting for you in Izmir, Muğla, or Aydın provinces. If you wish to truly experience the fairy tale snow season, we can guide you on houses that are right around the corner from a ski getaway. In the south, Turkey's Antalya alone is enough to fill your heart with the warmth of the sun in every season, as well as its magnificent ancient history where you can go on adventures at any time.
Food and Utilities
Those who come from a developed nation will quickly find out that the groceries in the Turkish markets are cheaper than where they came from. In January 2020, a kg of fat-free Beef was 5.37 USD, and 4.78 Euros average throughout the seven regions! Vegetables such as Tomatoes and Potatoes were selling in quarter Dollars and Euros, depending on the region. On top of everything, Turkey is a self-sufficient country, meaning that your groceries will always be fresh and perhaps right from the neighborhood. Essential consumables such as a packaged bottle of water will cost you less than a quarter in the Metropolis that is Istanbul.
Utility bills will usually depend on your usage of them, while some property owners include them in your rent if you go that path. On average, essentials such as electricity, water, and heating total should not be higher than 20 USD, or 17 Euros per month. If you wish to have an internet plan for your home, you can get Unlimited data for less than $15, and as much as that for your mobile phone. Television plans also will include home internet plans for less than if bought separately.
Turkish restaurants are known for their hospitality. Although it may not be healthy to visit that kebab restaurant found on every corner every day, to taste the delicious lahmacun, beef donairs, or drink Ayran, you can always leave satisfied with a $5 purchase. Larger restaurants are in similar territory with their captivating fish foods, and live music at night, but a family of four can leave their seats with less than a $25 payment, excluding tipping.
Automobiles are another case. To reduce the traffic in large cities, and overall consumption of oil, both oil and personal cars are heavily taxed, and strangely their taxes may include another tax call Personal Usage Tax (ÖTV). Nevertheless, if you have a savings account in Dollar or Euros, the cost of a car will still be cheaper than in those countries. Turkey consumes one of the most expensive oil in the world when compared to the minimum wage. Nevertheless, a liter of oil was around 1 Euro in January 2020.
Holidays
Every inch of the land in Turkey has something to offer for anyone. Warm beaches by the south and west coasts for those who wish to relax, and all seven regions offering an equal amount of ancient paths to lose yourself in search of adventure, or on the modern streets of Istanbul, Ankara, and Izmir. The provinces in Aegean and Mediterranean regions have been the number one destination for families, couples, and adventurous spirits for decades because of the five-star hotels with affordable rates. There are world-famous beaches such as the ÖlüDeniz by Fethiye, or coves of Marmaris, and Datça where you are free to park your yacht among nature.
Health
Besides its warm beaches and luxurious hotels, Turkey has made a name for itself through its amazing health care system, as well as the health tourism that came with it. The nation has a strong Universal Health Care system where if you are registered to a government-regulated health insurance plan, you can go to a doctor for free, and buy your medicine at low costs.
Health tourism has been competing with developed nations in recent years. The Turkish doctors in private hospitals have been providing top quality cosmetic surgeries such as nose jobs, esthetics on various parts of the body, as well as health-related ones such as the gastronomical operations. These operations can cost a fortune in European nations such as Switzerland, UK, or France, while you can work on your dream body for less than a quarter of the costs in Turkey, and recover by the warm beaches of the Aegean Sea!
Conclusion
Life is easy to enjoy in Turkey. With your one foot in the warm sand, and the other holding a margarita, you can spend months enjoying the sun in the country. Those who like to travel can witness a history that reaches thousands of years as they go on an adventure in the ruins of Anatolia, Aegean, and Istanbul's historical sites. Those who are looking for a permanent home, with savings on Euro or Dollar will find themselves in luxury everywhere they go, and with every step they take.
