Retirement is an important turning point in life. And if you are thinking about spending your golden years abroad, your top priorities are probably things like healthcare, security and the cost of living. Turkey is the cheapest place to retire. This is despite the fact that Portugal and the Netherlands are among the most affordable places in Europe, according to Property Guides, a real estate consultancy company
According to the company’s data, retirees require 488 euros ($527) a month on average to live there. The nation, which is home to about 85 million people and is situated in southwest Asia/Europe, has some of the lowest rates of crime in all of Europe.
According to a recent WTM Global Travel Report, Turkey has experienced an impressive surge in visitor numbers (up 70%) since the pandemic, making it the second most visited country in Europe, behind France. Due to this status, it has become a thriving cultural destination and a busy international meeting place—two things that are significant to retirees from abroad.
Turkey’s top retirement destinations include Istanbul, Antalya, and Bodrum, according to Can Turken, chief operations officer of Turkey Sotheby’s International Realty.
“Istanbul has some of the most sought-after properties of all Türkiye, being the branded residences, villas, and waterfront properties. The amenities often range between recently renovated or new kitchens and bathrooms, private parking, indoor pools, sauna, and Turkish hammam,” Turken told T+L.
Sun-drenched beaches, fine restaurants, luxurious hotels and a historic city center with numerous Roman and Ottoman relics can be found in Antalya, a picturesque vacation resort city on Turkey’s Mediterranean coast. Turken made it clear that seaside properties with hotel-like amenities are in high demand and that the area is a popular choice due to the almost year-round warm weather and the combination of picturesque nature and urban amenities.
Retirees seeking seclusion and exclusivity love Bodrum, the elegant luxury resort town on the Turkish Riviera known for its pristine beaches, upscale hotels, upscale shopping, and upscale dining establishments.
Germany ranks second on Property Guides’ list of the best countries for retirement because it has plenty of green spaces and the most hospital beds available for its citizens. Greece ranks third with a high affordability rating. Greece, which also boasts a low crime rate, will cost you an average of $1,108 per month to cover your expenses.
Related: Is Turkey Safe Right Now? Travel Advisory 2023
Cost of living in Turkey data
The cost of living in Turkey in 2023, when converted to US dollars, varies depending on the city, lifestyle, and personal needs. Here’s an overview based on recent data:
Accommodation:
- Renting a one-bedroom apartment in the city center costs approximately $240.70 per month, while the same outside the city center costs around $148.11.
- For a three-bedroom apartment, the cost in the city center is about $432.92 and outside the center around $269.78.
Food and Drink:
- Grocery shopping is relatively affordable. For instance, a liter of milk costs around $0.74, and a loaf of fresh white bread is priced at about $0.38.
- Eating out is also quite economical, with a meal at an inexpensive restaurant costing around $3.24.
Transportation:
- Public transportation is efficient and affordable. A one-way ticket for local transport is about $0.38, and a monthly pass typically costs $24.32.
Utilities:
- Basic utilities for an 85m2 apartment (including electricity, heating, cooling, water, and garbage) average around $58.16 per month.
Leisure Activities:
- Joining a fitness club costs approximately $17.39 per month, and a cinema ticket for an international release is around $2.43.
Healthcare:
- Turkey offers both public and private healthcare options. Public healthcare is cost-effective with nominal fees, while private healthcare provides high-quality care at varying costs.
General Expenses:
- The average monthly cost of living in Turkey for a single person is estimated at around $500 to $1,500, depending on the lifestyle and spending habits.
These figures provide a general idea of the cost of living in Turkey. The actual expenses can vary based on individual circumstances and choices. This information is compiled from multiple sources, including Livingcost.org, Numbeo.com, Onelifepassport.com, Simplytr.com, and Globalcitizensolutions.com, providing a comprehensive view of the current cost of living in Turkey.