As retirement beckons, individuals seek a rejuvenating change of pace, a fresh start, and a more fulfilling retirement experience. Retiring abroad has emerged as an enticing option for those seeking new horizons, lower living costs, and the chance to immerse themselves in a vibrant culture. Turkey, where ancient history harmonizes with modern living, has captured the attention of retirees worldwide. This article delves into the allure of retiring to Turkey, highlighting its merits as an attractive destination for both property investment and retirement planning. We'll explore the benefits, considerations, and opportunities that await those seeking to embark on a new chapter in their lives beyond the borders of their home country.
Why is Turkey an Appealing Destination for Retiring Abroad and Investing in Real Estate?
When compared to many other retirement destinations, Turkey has a substantially lower cost of living. From housing to daily expenses, retirees can live comfortably without breaking the bank, allowing retirees to stretch their retirement funds and enjoy a higher quality of life. Examples of the low cost of living:
- Housing Affordability: Retirees can find well-maintained properties in desirable locations, often at more affordable prices compared to other European countries or North America. It is true that Turkey now is competing with the world in terms of real estate investment as the prices have increased by an average of 72% between 2021 and 2023, however, one still can buy a cheap house in Turkey for their retirement plan
- Everyday Expenses: The cost of everyday necessities such as groceries, dining out, transportation, and utilities is much lower in Turkey
- Healthcare & Services: Turkey supplies high-quality healthcare services at a fraction of the cost for foreigners and no cost to the locals
- Travel and Recreation: The low cost of living in Turkey extends to recreational activities and vacation opportunities
Also, Turkey offers a range of climates to suit different preferences. Whether you want a warm coastal environment, a continental climate with distinct seasons, or a warmer climate with stunning scenery. Buying a property in Turkey means being able to enjoy different climates, such as:
- Mediterranean Climate: With mild winters and nice hot summers by the beach in Fethiye, Antalya, and Alanya
- Aegean Climate: With mild winters and warm-to-cool summers in Izmir and Kusadasi
- Black-sea Climate: Allows you cool summers and wonderful white winters
When retiring in Turkey, you get more time to visit all the culturally rich places and eateries that offer you a blast from history that most tourists don't get to see until their 10th visit to the country. Fixtures that attract the beholder are:
- Historical Marvels: With over 7 empires and kingdoms passionate over the region, there is a lot of history in all parts of Turkey
- Arts and Crafts: Each state in Turkey hosts art shows and has resident museums for ancient and modern art
- Cuisine: The food is one to die for, Turkish cuisine is famous in all metropolises worldwide
The modern transportation infrastructure makes it easy for retirees to move across the states and Turkey via the extensive networks of High-Speed Trains, Metros, tramways, busses, and cheap internal flights
When buying a property in Turkey for retirement, the person is also investing in one of the fastest-growing real estate markets in the world
How Can Retirees Enjoy a High Quality of Life on a Budget in Turkey?
Retirees can enjoy a high quality of life in Turkey without exceeding their budget by being cautious of expenses and making wise choices. Turkey offers an appealing blend of affordability and a rewarding retirement experience, with its reasonable housing alternatives, great yet affordable healthcare, rich culture, and natural beauty. Steps to control your budget in Turkey:
- Take Advantage of Healthcare Benefits: The healthcare supplied is one of the best in the world.
- Embrace the Local Lifestyle: Using applications and notifications to let you know when and where there is a discount, Turkish people use this to stock up twice a year and save money.
- Transportation: Being one of the most visited countries in the world, Turkey has an excellent public transportation network.
What Regions in Turkey Offer the Best Low-Cost Living and Investment Opportunities?
It is crucial to note that the cost of living varies by region, and personal preferences play a factor in picking the best retirement destination. A thorough study, visits to potential places, and consultation with local experts can aid retirees in making informed decisions based on their personal needs and budget. The best areas to buy a property in Turkey for retirees are as the below:
- The Aegean region, including cities like Izmir, Aydın, and Muğla, offers a pleasant Mediterranean climate, a beautiful coastline, and a lower living cost than other popular tourist countries.
- The Mediterranean coast, encompassing cities such as Antalya, Alanya, and Mersin, is another attractive region for retirees seeking affordability. The area boasts stunning beaches, historical sites, and a mild climate. Retirees can find reasonably priced properties in those areas.
- The Black Sea region, which includes towns such as Trabzon, Samsun, and Rize, has a different climate and landscape than the Mediterranean and Aegean regions. This lush, verdant region gets more rainfall and a milder climate. The cheaper cost of living in this area, combined with its scenic beauty, tea plantations, and traditional rural lifestyle, may appeal to seniors looking for affordability and a peaceful atmosphere.
Also, of interest
Before moving to Turkey to spend your golden years, it is nice to understand the setting in each state in Turkey, such as Istanbul, Antalya, Alanya, Izmir, or Trabzun. Thus, it is a good idea to check out our blog "What are the Things to Know Before Moving to Turkey?". Also, if you are planning on retiring in Istanbul, it is favorable to check out our blog "Things to Know About Istanbul".