Turkey investors cash in on cheap living costs

“Living in Turkey, is considerably cheaper than in the UK particularly now that the austerity measures are beginning to bite”, says Suleyman Akbay, Director at Oceanwide Properties. Suleyman should know; he has offices in central London, Hampshire and Turkey so is fully aux fait with the cost of living in both countries.

Continued Suleyman,” The average council tax in Turkey along the Mediterranean Coast is between £40 and £150 per annum with an average water bill of around £12 - £25 and electricity bill per month during the winter months of £20 - £60 and in summer £40 to £100. In fact just comparing a few of the supermarket store prices is enough to ensure buyers of homes in Turkey along our Mediterranean Coast that life is very much cheaper”.

PRICE CHECK

Chicken £1.56 per kilo (UK £2 per kilo)

Rice 2.5 KG £1.96 (UK £2.76)

Oranges 2kg 78p (UK £1.98)

Potatoes per kilo .58p (UK £1.55)

Fresh Milk 1 litre 46p (UK £1.55)

In addition, property prices are proving very good in terms of capital growth. Cleeve and Gwynne Gryce from Berkshire, bought an apartment off plan in March 2010 and already it is worth around £10,000 more than they paid for it.

"Property prices are rising about 15% per annum at present along the resort regions of the Mediterranean. This is proving very popular with the British whether for a holiday home, rental income or retirement”.

Source: Didim Today