Cost of living Turkey - Comparison between Turkey and the United Kingdom

There are many reasons that make Turkey a popular country to come to when you think about leaving your home country or creating a second home in the sun. Whether it's the food, weather, or the people, you will not regret living in this modern country, which is rich in heritage, history and tradition as well. Turkey offers great quality in terms of life style, food and infrastructure.

Despite all this, the costs of living in the country are economical compared to the USA and most European countries. Below you can find a current price comparison on an aggregated level.

With regards to the below price averages please be aware that there are differences between the main city hubs. Especially Istanbul as one of the largest metropol areas in the world is significantly more expensive than let`s say Antalya or Alanya. In terms of job opportunities, finance, culture, history, night life, events and commerce it has a lot to offer as well.

Please note that taxi tariffs can change in some areas and the below values are averages. For example, Alanya as a more tourist city has taxi tariffs that are significantly higher than Istanbul. This is also due to the fact that in Alanya local usage of taxis is not as common as in Istanbul.

The rents stated below are averages covering the whole of Turkey. Rents in the city centers of Istanbul, Antalya, Alanya, Kas, or Fethiye can be considerably higher. Averages do not place a greater weight on either newly built constructions or better or premium locations but cover all years of construction and all locations.

In Istanbul in one of the central districts of Besiktas for example one rarely finds a good rental apartment with 1 bedroom at 10,000 TL. If you are looking for something nice with a bit of view it will easily be 15,000 TL or 18,000 TL per month or more.

[1] Interest rates are to be seen against the background of the inflation rate in the respective currency area. An effective interest rate of 73.50% appears high. However, with 73.50%, the inflation rate estimated by the central bank as of May 2022 is around the same level. This means that economically speaking, money can be borrowed at zero cost. In the UK on the other hand borrowing money has a real cost at the moment. When borrowing money is comparatively cheap this is usually seen as a favorable situation for property buyers. In the midterm - under otherwise identical conditions - this will result in an increase in property prices.