Discover how UK pensions stretch further in Turkey
Les and Anne from Yorkshire chose to buy a holiday home in Turkey rather than Spain because it was more affordable. Six years ago they decided they preferred spending more time in southwest Turkey than in northern England, so they made the move there.
“Eighteen years ago I bought a two-bed apartment in the historic coastal town of Side after visiting on the advice of my daughter,’ say Anne, 72, who used to manage a branch of the optician Dollond & Aitchison. “I found it friendly, loved the sunshine, felt very safe travelling there on my own and have loved it ever since.” The couple have since upgraded to a gated development of six duplex apartments that share a swimming pool and garden in Side (pronounced see-day) – part of the Antalya region that enjoys a milder climate in the winters. It’s a highly social little community with Norwegian, Belgian and Anglo-Turkish neighbours.
“We love it there, it feels like a proper home and Les does the pool and gardening to keep the upkeep costs down, whilst I manage it,” she says. Les, a mechanic by trade, is known as “Mr Fixit” for his ability to put his hand to anything – very useful when setting up in a new country.
They own a four-bedroom, three-bath apartment which means they have space for both their grown-up daughters to stay – and grandchildren. They are very involved with life in Side – where there is a sizable expat community – and have been involved in raising money for the 2023 earthquake victims through their local bar by running cake sales, as well as joining in local Turkish festivals and events. “We’ve got lots of Belgian and Turkish friends now,” adds Anne.
Cost of living: the details
But cost of living remains a major incentive.
“Every time we come back to the UK we are shocked at how expensive it has got. Yes, there’s been inflation in Turkey, but the cost of living is still much cheaper than the UK. With 44 Turkish lira to the pound, our pensions go a long way, and just sit in the bank earning interest,” she says. “The interest rate is great.” On Turkish lira accounts the interest rate is around 48 per cent, which is great for savers but hopeless for borrowers.
Having still owned property in the UK until recently Anne is very aware of the difference in running costs.
- Council tax: Turkey is £50 per year – Yorkshire £180 per month
- Water: Turkey £10 – Yorkshire £70
- Phone contract: Turkey £8 – Yorkshire £35-40
- House Insurance: Turkey £169 per year (inc. earthquake cover) – Yorkshire £250-300
- Weekly shop: Turkey £70 per week – Yorkshire £130
She says that eating out is around 50 per cent cheaper than in the UK – plus petrol is 35p per gallon cheaper in Turkey. Many retirees live on £700 to £1000 a month, says Lisa Pyle of Yesilyurt Danismanlik, an estate agent and developer, although it’s not just the retired moving to Turkey. “We also have people running businesses or working online coming over.”
How to move to Turkey?
The couple are on a two-year temporary residency visa that is renewable. As homeowners this suits them, rather than committing fully to Turkish citizenship and its tax implications. She can access the Turkish national healthcare system, the SGK.
There is also the ‘golden visa’ option: if you purchase a property in Turkey worth US $400,000 or more you can get Turkish citizenship. This also offers visa-free travel to over 100 other countries, but the property must be purchased from a Turkish citizen – or a property developer.
Properties in Side
Anne says that their duplex is worth around €210,000 but you can find smaller apartments in Side – one beds from €100,000 if you are lucky, two-beds for €150,000, three-bed villas with a pool from €300,000.
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