If you own your own property and don’t have rent or a mortgage to pay, a life standard quite above the average may cost approximately 1.200 USD for a family of four in Istanbul. Keeping in mind that currently, 1 USD is more than 7 Turkish Lira, and the minimum monthly wage is almost 2.900 TL.
We can absolutely say that living cost in Istanbul is remarkably cheaper than in many other western countries’ cities such as London, Madrid, Paris, New York or even smaller cities over there.
Household bills such as water, electricity, internet, telephone, heating, satellite packages council and rubbish tax actually depend to the size of the property and the city. This whole package of bills varies from 500 to 900 Turkish liras monthly. In apartments also there may be a monthly fee for residence facilities.
The budget for a fast-food meal is almost 25-30 Turkish Liras (TL). If you have a meal for 2 People in a mid-range restaurant including three-course you may pay between 100 - 140 TL (alcoholic beverages not included).
Transport cost varies again the city you are living in Turkey. For example, in Istanbul, using public services will cost you roughly 200-250 TL a month. If you have your own vehicle to commute, you should also set aside approximately 4.000-9.000 TL a year for maintenance, insurance, and other legal costs depending on the type and model of your vehicle.
Actually, council tax is calculated on the official price band for your property, as well as how many people are on the title deeds. DASK (earthquake insurance) is compulsory and depends on the square meterage of the property. For both council tax and DASK you may pay from 400 to 900 TL on a yearly basis.
Turkey has almost 3 hospital beds per 1,000 people, which is very respectable and more than most of the western countries such as the UK, US, or New Zealand. If you got your citizenship by purchasing a property in Turkey (with a determined cost which you will see under the headline of Turkish Citizenship in our web page), then you can get the advantage of General Healthcare Insurance by paying almost 120 TL monthly.
General health insurance refers to the insurance that primarily protects the health of individuals and provides financing for the expenses incurred in case of encountering health risks.
Turkey is really very economical in terms of food shopping as well as the other living costs. Because of that reason, single people or families can save a lot of money in the country.
Using local markets instead of the leading supermarkets for fruit, veggies, and dairy products is cheaper, averaging in at roughly 250-300 TL a week due to a very quality selection of products for a family of 4 people. Even in leading supermarkets, you may pay only or 15 more in weekly shopping for food.
Q: Is cost of living really low in Turkey?
A: The cost of living in Turkey is less than half of the any other developed western countries. That is the reason for many foreign property buyers choose to live in Turkey all year round.
Q: What is the cost of eating and drinking in restaurants in Turkey?
A: If you go for having meal for two people in a mid-range restaurant including three-course you may pay between 100-140 TL. This may be a bit higher or lower depending the district as well.
Q: How much do monthly bills cost in Turkey?
A: Actually, running costs for a property are incredibly cheap. For example, the whole package of water, electric, satellite TV and internet connections bills varies from 500 to 900 Turkish liras monthly.
Q: Is food shopping expensive in Turkey?
A: No shortly it is not expensive. Turkey is really very economical in terms of food shopping as well as the other living costs. For fruit, veggies, and dairy products will cost roughly 250-300 TL a week for a family of 4 people.
Q: Why is the cost of living so economic in Turkey?
A: There are many reasons which is hard to list here. But so as to give a few examples Turkey is not in Euro zone and this is a really big advantage. Besides there are so many local providers which causes fair prices. Agricultural and sea food production is mostly done by local people.