Housing expenditures dominated Turkey’s household budgets in 2023

Housing and rent expenditures in 2023 held the largest share of household consumption spending in Turkey, accounting for 24 percent, according to government-run TÜİK's report.

Tuesday June 11 2024 04:15 pm

Duvar English

Housing and rent expenditures had the highest share of total consumption expenditures at 23.9 percent, according to the 2023 Household Budget Survey results from the government-run Turkish Statistical Institute (TÜİK).

Transport expenditures followed housing with 21.9 percent, and food and non-alcoholic beverages took third place with 20.6 percent.

Insurance and financial services with 0.8 percent, education services with one percent and entertainment, sports and culture with 1.9 per cent held the lowest shares.

The graph showing the distribution of household consumption expenditures by expenditure types (%) is taken by the TÜİK's report.

In 2023, the average monthly consumption expenditure was 24,383 Turkish lira per household and 12,521 lira per individual.

When the distribution of consumption expenditures by 20 percent groups ordered according to income was analyzed; households in the first 20 percent group, which is the lowest income group, allocated 36.6 percent for food and non-alcoholic beverages, 29.2 percent for housing and rent, 8.8 percent for transport and 5.4 percent for furniture and household goods.

Households in the fifth 20 percent group, which is the highest income group, allocated 28.3 percent to transport expenditures, 21 percent to housing and rent expenditures, 14.5 percent to food and non-alcoholic beverages expenditures and 6.9 percent to restaurants and accommodation services expenditures.

The graph showing the Distribution of consumption expenditure by quintiles ordered by income is taken by the TÜİK's report.

Looking at the distribution of consumption expenditures according to household size in 2023, one-person households allocated 31.8 percent to housing and rent expenditures, 18.7 percent to transport expenditures and 16.3 percent to food and non-alcoholic beverages expenditures.

Households with a size of seven or more people allocated 30.2 percent for food and non-alcoholic beverages, 19.9 percent for housing and rent and 14.9 percent for transport expenditures.

Hence, one-person households allocated one and a half times more of their budget to housing and rent compared to larger households.