Annual Running Costs for a Property in Turkey

 

The annual running costs of property in Turkey are relatively lower than western countries. This explains why it is a popular choice for expats. The below are approximate amounts only and will differ slightly according to the type of property and where it is. Naturally, someone who is only using the property as a holiday home will incur lower costs. All the prices are in Turkish lira but use Google or XE.com to convert to Euros, pounds or USD.

 

Monthly Utility Bills

 

Electricity: For a two-bedroom apartment, monthly electricity bills vary from 80 to 200 lira per month. The primary contributing factor for high electricity bills is air conditioning units that consume a lot of power. For this reason, some people lower their electric bill by installing stand up fans or ceiling fans.

Gas: Generally, gas is only used in Turkey for the oven. Rather than being connected through pipes, it is sold in large bottles of which the current price is approximately 70 lira. Depending on how much you use your oven, a gas bottle will last an average of 6 to 9 months.

Water: Slowly, the old-fashioned water meters are being phased out and replaced with pay-as-you-go meters. Costs vary from averaging roughly 1 Turkish lira per cubic meter. A large family should factor in approximately 30 lira a month for water.

Internet: For permanent all year round living, the Internet will cost about 50 lira a month. If you are using your property only as a holiday home, you can rent dongles from companies who will deliver them to your door.

 

Annual Costs for a Property in Turkey

 

Council Tax: The charge for your council tax varies depending on the number of people on the tapu (title deeds) and the price of your property. An average 2-bedroom apartment can expect to pay roughly 150 lira a year in Didim but higher in other places.  

Rubbish Tax: This is a one-off annual tax collected with the council tax and is around 80 lira a year in Didim.

DASK Insurance: This earthquake insurance is compulsory by law. The cost varies between companies who use the square meterage of your apartment to calculate it. A 70-square meter apartment is roughly 250 lira a year. Obviously, the cost rises if you upgrade to contents and fire insurance.

Service Charges: If you purchase an apartment in a complex, a monthly maintenance fee is required. This fee goes towards costs such as communal electricity, water, swimming pool maintenance and any other communal facilities as agreed by the official management committee. They vary from complex to complex from 300 to 2000 lira  a year.

 

Additional Costs

 

* A villa with swimming pool still requires maintenance so you can learn to either maintain the swimming pool yourself or employ a company for roughly 500 lira. Generally, villa owners only keep their swimming pools open from May to October if they are living there all year round.

* If you use the apartment as a holiday home, you may wish to employ a management company to perform cheques, handle bills, or clean the apartment before you arrive. We offer all these services to buyers and can discuss packages available.

* If you choose to live in Turkey all year round, also take into account, the costs of residency fees and health insurance. We discuss this in our next article here or you can see the whole series of articles about buying property in Turkey here.

 

 

1: Organizing Finances, Turkish Mortgages & Currency Exchange

2: Cost of Buying Property in Turkey

3: Best Places to Buy Property in Turkey

4: Advice on Choosing your Property and our Responsibilities

5: Process to Buy Property in Turkey

6: Annual Running Costs

7: Moving to Turkey, Cost of Living and Residency

8: Renting out your Turkish property

9: Inheritance Laws and Wills