Recent years have seen a dramatic increase in the number of British and European citizens choosing to live and spend their retirement in Turkey. The warm climate, mild winters, lower cost of living, good transport links and affordably priced properties for sale in Turkey, make it an attractive option.
Choosing to live abroad is a major decision and not one to be taken lightly. Certain factors need to be considered before you make the jump but, providing you do your research, Turkey can offer a superb location to enjoy your senior years.
Why Retire to Turkey?
Established Expat Communities
Most cities and main resorts along the coast have established and expanding foreign communities all enjoying the benefits Turkey has to offer.
Warm, Healthy & Relaxed Lifestyle
A better quality of life can be enjoyed in Turkey for a fraction of the cost. Fresh, organic produce is available throughout Turkey at local markets and stalls allowing for a far healthier diet. This, coupled with a growing number of excellent private hospitals and healthcare facilities, allows you to enjoy a healthier lifestyle choice whilst basking in temperatures ideal for soothing away those aches and pains
A Wide Choice of Locations
Popular coastal areas like Bodrum, Fethiye, Izmir and Antalya are the most popular locations for those wishing to retire to Turkey. As established resorts, they offer a great choice of locations from tranquil, traditional villages to thriving tourist resorts. There’s a location and a Turkish property to suit everyone.
Turkish Property Value vs Cost
You get far more property for your money in Turkey. Building and land costs, although on the increase, still represent fabulous value for money and the investment potential in many areas is excellent. Modern villas and apartments can be brought for a fraction of the cost of the UK and Spain, the running costs are also minimal if compared to most other European countries.
Great Transport Links
Dalaman, Bodrum and Antalya Airports operate direct flights to most UK and European destinations throughout the summer months. International flights can easily be made via Istanbul year round.
Turkey makes Financial Sense!
With a fast growing economy, and its position outside the Eurozone, Turkey is one of the few easily accessible countries tipped by the investment press to offer great financial rewards. For those that choose to reside in, or purchase property in Turkey, good interest rates in banks, and great variety of affordable homes, make living in Turkey a viable financial option.
What benefits can I claim as a UK pensioner residing in Turkey?*
Before making the leap to live in Turkey it is a good idea to contact the UK Benefits Agency
and check what benefits you may be entitled to receive whilst living abroad. Benefits differ depending on personal circumstances. Here are a couple of benefits many who retire to Turkey can enjoy:
Claiming Your UK Pension in Turkey
Those wishing to claim their UK state pension whilst living in Turkey can do so. Payments can be made direct to your UK bank account or into a Turkish bank account. If you move to Turkey before retirement age, you can opt to pay voluntary UK National Insurance contributions to preserve your full state pension in order to receive the full benefit once it matures.
Claiming UK Winter Fuel Allowance in Turkey
As it stands, retired UK citizens living in Turkey can still claim their UK Winter Fuel Allowance. Currently up to £200 to help towards winter fuel expenses can be claimed by any pensioner with 'a genuine and sufficient link' to the UK. This may be short lived though as Iain Duncan Smith, the UK Work and Pensions Secretary, is currently debating a ‘temperature assessment’ which could wipe out payments to ex-pats residing in hot countries like Turkey.
*Laws surrounding benefits and entitlements change frequently. Our information is intended for guidance only, please check with the relevant bodies for up-to-date information.