Concerns for the old continent have been rising, winter is around the corner, and many European countries are discussing how to face the cold season amidst the energy and soaring living crises.
One interesting suggestion to resolve this issue appeared in several newspapers like Hurriyet Daily News from Marija Linhoff, the chairwoman of the german travel agency association VUSR; she recommended that german pensioners spend this winter season in southern countries such as Türkiye.
Before we discuss whether it is a practical solution for Europeans to leave their homes, let us understand what is happening currently.
The year 2022 has been an intense year on a global scale; while we are still recovering economically from the COVID-19 pandemic that has triggered high inflation rates, the world is now facing the effects of the Russian invasion of Ukraine. The increased demand for energy is met with a meager supply under the current circumstances, which could be analyzed through the data. According to Euronews, the eurozone inflation rate is at its record high, reaching 10.7% in October. Also, Eurostat has estimated that energy prices have risen by 41.9% compared to last year’s statistics. This leaves citizens of the continent worried about how they will survive in the next few months.
As world leaders decide on the best resolution, Euro citizens are encouraged to reduce energy consumption and adapt to new consumer behaviors. To save the costs of the high electricity bills, some have resorted to using wood to fight the cold. This begs the question, is Europe reverting to the dark ages?
Many Europeans have taken the advice of the German official Linhoff; Türkiye is seeing a surge in the number of hotel bookings for the winter months. Cities like Istanbul, Izmir, and Bodrum are much warmer than cities like Berlin, London or Madrid. For instance, average temperatures in Istanbul during December and January are around 3°C and 9°C, whereas, in Berlin, it is between 4°C and -3°C. The warm weather is one of the many reasons why people choose Türkiye for leisure and investment.
What if we told you that you don’t have to leave your home or spend your money in hotels for the upcoming season but instead build a new home in Türkiye?
The energy crisis is an ongoing problem for Europe and the world, courtesy of the continuing invasion and climate change; therefore, having a secure plan is essential. The lovely weather, fantastic food, and beautiful Mediterranean beaches in Türkiye are great to enjoy, but this country has much more to offer you!
To understand how you can benefit from investing in a second home here, let’s compare the cost of living numbers between Germany and Türkiye. Numbeo data suggests that consumer prices in Istanbul are 48.5% lower than in Berlin. A family of four would need around 3.000€ in Germany for monthly expenses without rent, whereas in Turkey, you would only need around 1.500€ for your family. Energy bills cost around 75€ monthly in Istanbul and around 300€ in Berlin. The cost of living crisis has mildly affected the Turkish economy compared to Europe.
Moreover, the housing market in Türkiye is booming, and with numerous investments in this sector, it is cheaper than in Europe to buy a property here. The average cost of one square meter in Germany is around 6.000€; meanwhile, in a big city like Istanbul, the average price for a square meter is around 3.000€. So instead of cutting off your expenses or spending your savings on expensive utility bills, you can explore new opportunities and invest in a secure home.
You can read more here on how to buy a property and consult with our agents to check your options.
