The Real Cost of Ownership
One of Turkey's biggest advantages for property owners is the remarkably low cost of living and property maintenance. Annual property costs in Turkey are a fraction of what you'd pay in Western Europe or Scandinavia.
Here's a straightforward breakdown of what you'll pay each year as a property owner.
Recurring Annual Costs
These costs apply to all property owners in Turkey.
| Item | Cost |
|---|---|
| Property Tax (Emlak Vergisi)<br>Paid annually before the end of May. In metropolitan areas (buyuksehir), the rate is 0.2%. The assessed value is set by the municipality and is typically well below market value. | 0.1% of assessed value |
| Electricity<br>Electricity costs in Turkey are among the lowest in Europe. A typical 2-bedroom apartment uses 150–250 kWh/month. Monthly cost: approximately 10–25 EUR. | ~0.06–0.10 EUR/kWh |
| Water<br>Water is very affordable. A typical household uses 8–15 m³/month. Monthly cost: approximately 3–8 EUR. | ~0.30–0.50 EUR/m³ |
| Natural Gas (if connected)<br>Used for heating and hot water. Monthly cost varies significantly by season: 5–10 EUR in summer, 30–80 EUR in winter. | ~0.03–0.05 EUR/kWh |
| Internet<br>Fiber internet is widely available in Turkish cities and resort areas. Speeds of 50–100 Mbps are standard. | 15–30 EUR/month |
| DASK Insurance (mandatory)<br>Compulsory earthquake insurance. Renewal is annual and required to maintain utility connections. | 50–150 EUR/year |
Building Maintenance Fees (Aidat)
If your property is in an apartment complex or a managed site (site), you'll pay a monthly maintenance fee called aidat. This covers shared expenses like security, garden maintenance, pool upkeep, elevator maintenance, and common area cleaning.
Aidat varies widely depending on the complex and its amenities. Typical ranges:
| Complex type | Monthly range |
|---|---|
| Basic apartment complex | 30–80 EUR/month |
| Mid-range complex with pool | 50–120 EUR/month |
| Luxury resort-style complex | 100–250 EUR/month |
Aidat is paid monthly to the building management, regardless of whether you're living in the property.
Property Insurance
Beyond the mandatory DASK earthquake insurance, comprehensive home insurance is optional but recommended. It covers fire, theft, natural disasters, water damage, and third-party liability.
Comprehensive insurance typically costs 200–500 EUR/year depending on the property value, location, and coverage level.
Cost-Saving Tips
- Set up automatic payments through your Turkish bank account to avoid late fees
- Compare internet and insurance providers — prices vary significantly
- If you're not living in the property full-time, inform the building management to potentially reduce certain utility costs
- Solar panels are increasingly popular in Turkey and can significantly reduce electricity costs
- Property tax is based on the municipality's assessed value, not market value — it's usually much lower than you'd expect