"For those who are planning real estate investment in Turkey, the country is a total mystery in some aspects. With its unique geography, high population, peculiar culture and dynamic economy may arise many questions in minds. In this post, we compiled some of the most asked questions about Turkey.”
Turkey is a unique and thus beautiful country, which is sincerely recommended by both the locals or travellers. Turkey has been exposed to the the turmoils of its location, but besides, it makes a great mixture of eastern and western cultures as well as portraying a dynamic country with its high population and growing economy. Here are some of the most common questions about Turkey:
Is The Cost Of Living High In Turkey?
The cost of living in Turkey is probably one of the main reasons why a foreigner prefers to invest in Turkey. Of course, the low cost of living does not mean that the quality of standard of living in Turkey is also low. Comparing cost and standard, it is not difficult to say that high living standard can easily be achieved in Turkey at low cost. In this respect, living in Turkey can be the key to a more comfortable and quality life.
In Turkey, it is an important service that the employer pays both health-related expenses and the amount needed for retirement within the Social Security Institution (SGK). The monthly minimum wage in Turkey rose to TL 2,020 as of 2019. Of course, depending on the city, this amount can be counted as enough for a single person.
In large cities like Istanbul, Ankara and Izmir, the cost of living is higher than in other cities, and this is a common situation. The cost of living in Istanbul, which is Turkey's leading city in the fields of economics, culture, art, history and business, is relatively higher compared to the other cities in Turkey. For sure, Istanbul is an expensive city regarding food & beverage, social life, and especially rent expenses. The location to be selected with the right investment option will also help an investor settle in Turkey to achieve the most appropriate standard of living.
Turkey is not one of the member states of the European Union (EU). But Turkey’s long-term relations with the European Union still continue. First of all, Turkey is one of the earliest countries to establish a strong cooperation with the European Economic Community in 1959. The Customs Union Agreement between Turkey and the EU entered into force in 1996 after these developments. In 2004, the Council of Europe decided to start negotiations with Turkey for membership, and in 2005, Turkey's accession negotiations with the EU started. Since 2005, the negotiations have been continuing to strengthen relations between the European Union and Turkey.
Turkey, which welcomes millions of tourists every year, is a safe country. In recent years, the insecure environment caused by the Syrian war has been felt in neighboring cities to Syria, while daily life in other cities of the country continues in its routine. Turkey's major cities, such as Istanbul, Ankara, Izmir, Bursa and Antalya can be considered as relatively organized and safer compared to other major cities of the world. Newly emerging residential projects located in these cities are among the safest living areas.
Is Turkey a Secular Country?
Turkey is a secular country and this is clearly stated in its constitution with the expression “The Republic of Turkey is a democratic, secular and social state governed by rule of law”. With the reforms carried out in the early years of the republic, the young country gained a modern and secular face and has maintained its new identity until today.
Turkey, which has a large population of Muslims, has always been a region where people from different religions, sects and cultures live in peace and tolerance throughout its history. The secular structure of Turkey is one of the most fundamental features of the country that enables it to become an embracing country for all. While Turkey draws a country image where Muslims with different nationalities, who are planning to make real estate investment, can easily adapt, it also provide the citizens and tourists with different religious background with an environment where they can live their rituals freely.