Turkey: Rent eats up 25% of household budgets

Turkish households spent 24.7 per cent of their household budget on rent in 2017, the Turkish Statistical Institute (TurkStat) revealed today.

“According to the results of the 2017 household budget survey; while the expenditures on housing and rent had the highest share in total consumption expenditures with a rate of 24.7 per cent (down from 25.2 per cent in 2016), the share of expenditures on food and non-alcoholic beverages was 19.7 per cent (up from 19.5 per cent in 2016) in overall Turkey,” the TurkStat said in a statement.

Household expenditure on health and educational services had the lowest share with 2.2 per cent and 2.3 per cent, respectively.

Turkish households spent more on overall living expenses on a yearly basis in 2017.

“The monthly average equivalent consumption expenditures was 1,642 liras ($542) in 2016 and 1,854 liras ($508) in 2017,” TurkStat said.

According to the report, the share of transportation spending rose the most, up 0.5 percentage points, to 18.7 per cent during the same period.

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