Yearly running costs of a Property in Turkey
The yearly running expenses of property in Turkey are generally lower than western nations. This clarifies why it is a popular choice for expats. The below are approximate sums only and will slightly differ depending on the type of property and where it is. Normally, someone who is only using the property as a holiday home will incount lower costs.
Monthly payment of Utility Bills
Electricity: For a 2/3bedroom apartment, monthly electricity bills vary from 350 to 400 Turkish Lira per month. The main contributing factor for high electricity bills is air conditioning units that absorb a lot of power. On this basis, some people may lower their electric bill by installing ceiling fans or stand up fans.
Gas: In general, gas is only used in Turkey for the hob. It is sold in large bottles, rather than being connected though pipes, the current price is around 125 Turkish Lira. Depending on the consumption a gas bottle will last an average of 4 to 6 months.
Water: There are water meters in Turkey, the costs vary from averaging roughly 1 Turkish lira per cubic meter. A large family should expect to pay approximately 100 lira a month for water.
Internet: For main residence all year round living, the Internet will cost about 80 lira per month. If you are only using your property as a holiday home, you can rent dongles from a service provider.
Annual Costs for a Property in Turkey
Council Tax: The cost for your council tax varies depending on the number of people on the tapu (title deeds) and the value of your property. An average 2/3bedroom apartment can expect to pay roughly 300 Turkish Lira a year.
Rubbish Tax: This is a one-off annual tax collected with the council tax and is around 150 Turkish Lira a year.
DASK Insurance: DASK (Earthquake insurance) is compulsory in Turkey by law. The cost varies between companies who use the square meter of your apartment to calculate it. A 100 sqm apartment is approximately 300 Turkish Lira a year. Evidently, the cost rises if you enhance the policy to include house contents and fire insurance.
Service Charges: If you have an apartment in a complex, a monthly maintenance fee is required. This change will go towards costs such as communal electricity, water, swimming pool, chemicals, garden maintenance and any other communal facilities as agreed by the official management committee. They vary from complex to complex from 5.000-6.500 Turkish Lira a year.
A private villa with swimming pool still requires maintenance so you can learn to either maintain the swimming pool yourself or employ a company for roughly 10.000 Turkish Lira. Mostly villa owners only keep their swimming pools open from May to October even 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 handle bills, or clean the apartment prior to your arrival.
If you choose to live in Turkey all year round, you should in addition take into account, the costs of residency fees and health insurance.