a green

Member
cost of living in turkey
I have heard that the cost of living in Turkey is rising fast.
Any views please we are looking to move on a perminant basis in a years time
 

REDDERS

senior member
cost of living in turkey
With interest rates dropping like a brick at the moment,living off your bank interest only with no other income,such as private pensions etc could make money a bit tight.
Feel free to p.m.me for more personal info.

martin..
 
cost of living in turkey
correct redders .if you are not of pension age and interest rates dropping and cant work without work permit,i wouldnt recommend coming unless you have a lot off money. i know theres a lot of expats going back as they rent and now cant afford the rents.not to bad if you own your house.the food has risen so as the electric bills.
 
cost of living in turkey
I agree with christygee and redders. I came here and bought at the top of the market and the house cost a lot more than I'd budgeted for what with one thing and another, and then the interest rates started to drop which eroded my savings. I am not a pensioner and came here to find teaching work as I have 12 years experience in English teaching. The teaching scene here is a lot more difficult than it used to be - more teachers than work - and it took me a year to get a course in a new school. To cut a long story short, if my dear old mum hadn't helped me substantially I would have gone right through my savings and had to rent or sell the house and go home.
As it is I'm poorer but still love Istanbul and wouldn't live anywhere else.
Turkey is no longer bargain basement. Most things I buy here are cheaper in the UK.
Also many Brits come out here unaware of the cultural differences and hardly able to speak a word of Turkish.
But I think financial considerations outweigh all others at this point in time.
 

babsgood

Deemon in disguise
cost of living in turkey
totally agree, we came out 3 1/2 years ago and managed very well on our interest, we decided to buy a house and sell our apartment which we could well afford to do at the time, now rates are dropping we are really struggling, we have thought about going back to UK but we decided we would rather be skint here than in the UK.
I am 'lucky' though as I can take my civil service pension at 50 which is next May, I really didn't want to as 10 years early means I get a lot less but it will keep our heads above water...........for now!
I think that most things here are expensive now, even when compared to only 3 years ago, we have been holidaying here since 1993 so we remember the really cheap days, however we realised that that it couldn't continue to be so cheap but lets be honest none of us imagined that things would change so drastically. fingers crossed that rates start to rise a little soon.
 

pldouglas

Member
cost of living in turkey
You should never reley on interest rates staying high as a means of income. 25 years ago my parents were living like lords in Cornwall after selling up thier Sussex based business and taking early retirement, easily gaining a very good income becasue interest rates in GB at that time were about 15%. Well that all changed within a couple of years and eventually they had to return and start the long hard work of starting another business.
So wherever you decide to live, do it because its where you want to live and not just for financial considerations, because you can bet they will change like the wind.
 
cost of living in turkey
I'm a bit confused by this thread and the posted comments.This is a question about cost of living in Turkey not the amount of interest you will get.The cost of living/inflation figures are given out each month by the central bank when they set interest rates.The figures have been remarkably steady for some while and before that were much higher.Back to the interest question...its not a lot of good getting higher interest rates if your bills and shopping are shooting up at a similar rate,so there is at least a small silver lining on the horizon,just think what it would be like if prices were going through the roof and interest rates were low!!!
 

Aleynasdad

Member
cost of living in turkey
We live and work in İzmir and we feel little has change din the last three years. In fact rents have gone down. We are moving into a gorgeous new 3+1 apartment in Yeni Girne this week 140 m square and are only paying 600TL a month with 30TL aydat.
 

pldouglas

Member
cost of living in turkey
I'm a bit confused by this thread and the posted comments.This is a question about cost of living in Turkey not the amount of interest you will get.The cost of living/inflation figures are given out each month by the central bank when they set interest rates.The figures have been remarkably steady for some while and before that were much higher.Back to the interest question...its not a lot of good getting higher interest rates if your bills and shopping are shooting up at a similar rate,so there is at least a small silver lining on the horizon,just think what it would be like if prices were going through the roof and interest rates were low!!!

Interest rates and inflation will have a direct impact on most europeans wanting to immigrate to Turkey - thinking they will have a cheaper cost of living and able to live off thier investments instead of working is one reason some go there to live.
 

babsgood

Deemon in disguise
cost of living in turkey
I think what I and other posters wanted to point out is that prices are rising and at the same time income from invested capital is falling so anyone thinking of moving out here on a permanent basis needs to ensure that they can afford to live without having to rely soley on interest, as we all are aware interest rates have fallen dramatically and are set to continue to do so in the short term at least.
I cannot comment on the cost of living in Kusadasi as I live on the Bodrum peninsular and this area is renown for being on the more expensive side for most things, certainly rent, as an apartment on a par with that which Aleynasdad is renting would be at least 850 TL per month here.

there are other threads on this forum which detail how much people generally require to live I think Samimi started one a few months ago at the time she and her husband came out to live here in Turgutreis, perhaps a search would bring that information up.
 
cost of living in turkey
I am living here because I want to and not for financial reasons. Taken as a whole my cost of living is much higher than in the UK. Don't forget as well as day to day expenses you have to factor in health care, cost of flights home (most of us want to go home at least once or twice a year I would think) and the residence permit (Ikamet) which you have to have if you want to reside here more than 90 days. I also pay my lawyer a substantial fee annually for holding my tapu since I am in a tapu banned area for foreigners. All these things really mount up and you can never make a hard and fast budget since so many unpredictable and even emergency things come up. Of course the interest rates are relevant here since we are not all pensioners nor do even those of pensionable age all have private pensions and the low interest rates in the Uk have hit a lot of people who don't have private pensions but just have their savings to live off.
 
cost of living in turkey
Unfortunately reducing interest rates is principally designed to reduce inflation on prices and ultimately bring the cost of living down.
In the UK it has had that effect by reducng inflation to zero albeit and one would assume eventually it will have the same effect in Turkey.
I know many of you want rates to rise to give a better return on your savings but its in your interest to try to manage now because slowly it should reduce the cost of living and inflation anyway.
Once inflation is right down around zero as in the UK you wont need so much savings interest to keep pace with it. It all a fine balance between the two.
Less inflation,less interest needed.
There are so many offers and so much competition for business here in the UK that we notice our weekly shopping bills are lower now than at the beginning of 2009.
I do think that most retired ex pats will manage in Turkey with savings in the bank from a lifetime of hard graft but its these couples with kids etc that need to work and survive over there that need to really think hard about their decision to emigrate.
 

a green

Member
cost of living in turkey
Thanks to all who replied to this thread. We will find your comments very useful. I shall be 7 years short of retirement age but with our savings and the interest from the bank we are hoping to retire to our villa in the sun.

What we are trying to find out is how much should we budget for a month. We have no rent just the upkeep and fees for the villa. We like a drink and enjoy trips out to different places.

So if anyone has any thoughts we will be glad to hear them. I know that all people are different but I am sure that I will be able to format a budget from comments supplied by you good people.
 

Saoirse

Moderator
cost of living in turkey
We have a house with a pool. Water and electric are around 150tl a month for both. Food is biggest outlay and whilst that is different for everyone depending on size of family etc, its around 700tl a month for us 2

Hope that helps
 

giglets

Member
cost of living in turkey
We have a house with a pool. Water and electric are around 150tl a month for both. Food is biggest outlay and whilst that is different for everyone depending on size of family etc, its around 700tl a month for us 2

Hope that helps



And Guinness bill is.....................??
 

archied

Member
cost of living in turkey
simple question, would you be able to live a decent lifestyle (not lavish, non drinkers, ) with own property and 100k invested in turkish bank?
 

Saoirse

Moderator
cost of living in turkey
not any longer

thesedays it would only generate around 1300tl a month

if I am far wrong I am sure someone will tell me
 

tinkycarol

5 a day inspiration!
cost of living in turkey
Hi A Green,
If you have not already found it you may want to look at a thread called
"£500 a month (living on it/how far will it go"...? or similiar). Don't know how to do a link but you can use the Search button (top right side on toolbar). It was started in 2007 but updated all the time, currently at 22 pages, as already stated Sammi was posting a lot at the beginning of 2009. It is in the Living in Turkey & Cyprus sub-forum. Someone may come along and do the link. I think this could be useful to you.
Regards Carol x
 

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