Costs of Living in Turkey

Is it Expensive to Live in Turkey?

Before analyzing the expenses of living in Turkey, we need to figure out some main factors that have the biggest impact on this issue. Are you living a luxurious life etc? Or are you rather an economy type of person, being careful of what you spend your money on? Or other living-style characters such as: do you smoke? Do you often go to restaurants? or rather cook at home? Do you travel a lot? And so on. These are some individual aspects, that determine your lifestyle.

The other important issue is the currency of your income. Will you have your income in Turkish Lira? or Do you have your income paid in some other currency - Euro, Dollar, British Pound, or other? As a result, any expat receiving a pension or income in a foreign currency will not notice the impact of inflation because they are getting greater value for their money than they were a year before. Given the volatility of inflation and exchange rates, anyone on a budget should factor in a buffer zone.

There is also one more relevant element - the size of your family. Families with children under the age of 16 will undoubtedly face significant educational fees, whereas a single individual would not.

Average Salary, Minimum Wage, and Mortgages in Turkey

As of 01 January 2024 in Turkey, the monthly net minimum wage increased from 11.402,00 TL to 17.002,00 TL. The monthly gross minimum wage increased from 13.414,00 TL to 20.002,50 TL. Salaries for various occupations widely vary.

Several Turkish banks offer mortgages to foreign people interested in purchasing property in Turkey. Individual bank loan quantities, interest rates, and conditions may differ. Turkish banks give mortgage loans to foreigners only in local currency (Turkish Lira). Read more about “Mortgage and Finance in Turkey” on our website.

Cost of Living Comparisons by Cities

Living in a metropolis, like anywhere else in the globe, has higher prices. Istanbul, Turkey's most expensive city, is the main center of business, banking, tourism, and the economy. In addition to increased rentals, general everyday costs such as transportation, food, shopping, and nightlife are all costlier. For about 51,815.0 TL each month, a family of four can live well (without paying rent or a mortgage).

Overview of the Cost of Living in Turkey 

• Home bills: Turkey compensates for its high rent expenses by offering low household bills. Electricity, water, sewerage, telephone, internet, gas, and satellite packages are all included in the monthly expenses. Apartment and, a fee for community services, are also required for residents in apartment complexes.
• Food shopping: Food in Turkey is cheaper than in European countries. Purchasing fruit, vegetables, and dairy goods from local markets rather than major supermarkets is even less expensive (look at some examples in the table below).
• Residence permit: If you are not a Turkish Citizen, you need to apply for a residence permit as an expat. The average cost of a residence permit in Turkey in 2024 is 203,40 TL per day for up to 1 month. (This amount shall not be less than 381,90 TL and shall not be more than 1.962,60 TL for each permit for the first month) - 1.303,90 TL per month after 1 month has passed. In addition, the residence permit document is 356 TL. However, it should not be forgotten that these prices vary depending on the citizenship and country of the foreigner.
• Health insurance: It is a must to apply for a residence permit. A foreigner pays from 3,000 TL to 55,000 TL or more yearly for private health insurance. Prices are diverse due to the policy conditions and coverage.
• Public transportation and car expenses: Public transportation costs around 958 TL each month (One-way Ticket: approx 15 TL). Fuel prices hover around 38TL per liter (for petrol) and a range of 19 TL to 20 TL for gas. Car owners should budget around 60.000 TL per year for fuel, maintenance, insurance, MOTs, etc. (This price varies depending on the car's model, features, and frequency of use.)
• Health care: It varies by region and hospital. Healthcare is free for citizens in state hospitals and family care centers. Medicines are quite cheap and easily accessible. Getting professional health care is easy and doesn’t take much effort when you live in Turkey. Expats living in Turkey must get health insurance while applying for a residence permit, which also decreases the costs of having some medical treatment as a foreigner in Turkey.

Breakdown of Some of the Living Expenses in Turkey

To summarize - Turkey is a much cheaper country to live in than most European countries. Food, transportation, and rent prices are lower than in the UK, Germany, Sweden, or other developed countries in Europe. The average cost of living in Turkey for a reasonable lifestyle is 51,815 TL for a family of four, and 14,598 TL  for a single person.

Start Your New Life in Turkey Guided by TERRA Real Estate ^®

We understand that purchasing a home in Turkey is a serious decision that must be carefully considered. If you're looking for a property in Turkey for the first time, check out the Property Buying Guide in Turkey for First Time Buyers. On our website, you can also read about the Expenses of Buying Real Estate in Turkey.

You can also fill out the contact form and chat with a sales representative via email, or phone. You are also welcome to have a cup of tea or coffee in our office in Alanya.

Note: All of the prices and numbers mentioned in this article are estimated and may vary due to time and place. While reading this article please keep in mind the date it has been published. Last updated: 08.01.2024