ISTANBUL, Sept. 16 (Xinhua) -- For 26-year-old Oguz Biyikli, who works as a visa processing officer at a tourism agency in Istanbul, marriage was meant to mark the beginning of a new chapter. Yet, like many young couples in Türkiye, he and his wife are finding that setting up a household has become increasingly difficult even with a steady household income and a home of their own.
"We had been saving money for the past few years because we knew we were going to get married, but all our savings were gone by the wedding day," Biyikli told Xinhua at his office. "We bought what we could with our salaries, and we are still paying off the debt."
Their experience reflects the strain that persistently high inflation has placed on households across Türkiye. Annual inflation stood at 31.51 percent in August, according to official data, while the Central Bank has forecast year-end inflation at 28 percent.
Setting up a household comes with a long list of expenses, from major appliances and furniture to everyday necessities. A standard set of white goods, including a refrigerator, washing machine, dishwasher and oven, starts at around 90,000 liras (1,850 U.S. dollars), while a full furniture package can cost around 200,000 liras.
Housing costs add another burden for young couples. Although Biyikli owns his home, he said even relatively modest two-bedroom apartments he viewed while preparing for marriage could cost around 40,000 liras a month, with prices rising much higher depending on the location.
Amid soaring housing costs, authorities launched a pilot social rental housing scheme in Istanbul in September offering apartments starting from 10,000 liras per month, though restricted to just 1,071 units in its first phase and limited to a strict three-year tenancy.
For young workers on entry-level wages, housing costs can quickly become a major financial burden. Türkiye's net minimum wage is 28,075 liras, well below the cost of many of the expenses involved in setting up a home.
"Even big-ticket items have predictable price tags, but it's the countless small, everyday items that really drain you," Biyikli said, pointing out how seemingly minor purchases, from kitchen utensils to doormats, can add up to the cost of major appliances.
To ease such financial pressures, the Family and Youth Fund, financed by Türkiye's natural resource revenues, disbursed interest-free marriage loans totaling 2.18 billion liras to 19,166 young people in August. Couples can receive loans of 200,000 to 250,000 liras depending on their ages, featuring a 48-month maturity and a two-year grace period.
Biyikli said the support was "much better than nothing," although the loan would cover only part of the cost of setting up a home.
Finance Minister Mehmet Simsek said Wednesday that fighting the cost of living remains the government's top priority, stressing that authorities will not compromise on disinflation. Simsek acknowledged that the process will take a "bit longer than initially anticipated."
For newlyweds, however, the financial pressure remains immediate. Furkan Yilmaz, another newlywed in Istanbul, noted that he and his wife could not access state support because they already owned a small property, though he understood the program's intent.
Yilmaz also argued that short-term relief is not enough. "Unless inflation is stabilized, these measures are like putting a band-aid on a broken leg," he said. ■
