Cost Of Living in Syria 2025
Average monthly spending for singles, couples, students, and families in Syria
Whether you're living in Syria or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.
Average Monthly Expenditure
Currency: SYP
Monthly Expenditure ▶ Single
Currency: SYP
Monthly Expenditure ▶ Couple
Currency: SYP
Monthly Expenditure ▶ Family
Currency: SYP
Monthly Expenditure ▶ Student
Currency: SYP
Housing costs, accommodation, and housing affordability in Syria
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Syria
Monthly Rent Prices
Studio apartment monthly rent cost
| 12,000 SYP | 19,000 SYP | 50,000 SYP |
1-bedroom apartment monthly rent cost
| 19,000 SYP | 30,000 SYP | 75,000 SYP |
2-bedroom apartment monthly rent cost
| 25,000 SYP | 37,000 SYP | 99,000 SYP |
3-bedroom apartment monthly rent cost
| 30,000 SYP | 50,000 SYP | 140,000 SYP |
Furnished apartment monthly rent cost
| 60,000 SYP | 150,000 SYP | 300,000 SYP |
Townhouse monthly rent cost
| 50,000 SYP | 75,000 SYP | 210,000 SYP |
House monthly rent cost
| 60,000 SYP | 150,000 SYP | 300,000 SYP |
Villa monthly rent cost
| 75,000 SYP | 190,000 SYP | 300,000 SYP |
The monthly rental cost of a studio apartment in Syria ranges between 12,000 SYP and 50,000 SYP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 19,000 SYP to 75,000 SYP. Two-bedroom rentals rate ranges between 25,000 SYP and 99,000 SYP per month. The monthly rental for a three-bedroom apartment ranges from 30,000 SYP to 140,000 SYP. The average rent of a townhouse in Syria is around 75,000 SYP while house rental costs can be as high as 150,000 SYP per month. Finally, if you want to rent a villa, expect to pay anywhere from 75,000 SYP to 300,000 SYP per month.
Apartment and house prices in Syria
Cost of buying a property
Studio apartment price
| 2.5M SYP | 3.7M SYP | 7.5M SYP |
1-bedroom apartment price
2-bedroom apartment price
3-bedroom apartment price
Townhouse price
House price
| 25M SYP | 150M SYP | 210M SYP |
Villa price
| 30M SYP | 170M SYP | 250M SYP |
The average price of a studio apartment in Syria can range from 2.5M SYP to 7.5M SYP depending on location. One bedroom cost can be anywhere from 3M SYP to 19M SYP. A villa can cost you 170M SYP on average with prices ranging from 30M SYP to 250M SYP.
If you're leasing or purchasing, housing costs in Syria will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.
House / apartment prices to income ratio
Property price to income ratio
( average property price / average monthly income ) x 100
| 30 | x83 monthly income | 190 |
Property prices in Syria can be x83 to x190 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x83 multiples of the average monthly salary in Syria.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Syria is around 28%. This means that people pay 28% of their income for rent. Those figures can range from 18% to 38% depending on the salary, location, and type of property.
The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.
Housing affordability index
The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.
Housing Affordability Index
26% Property Taxes
Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.
Home Maintenance Costs
Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.
| 230 SYP | 3,000 SYP | 30,000 SYP |
Urban vs. rural living costs
Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Syria is 110,000 SYP. Expenses can range from 15,000 SYP at the minimum level to 700,000 SYP at the highest end.
Couples
The average monthly spending of couples in Syria is 180,000 SYP. Expenditure can range from 58,000 SYP to 940,000 SYP per month.
Families
The average cost of living for families in Syria is 230,000 SYP per month. Families spend anywhere from 82,000 SYP to 1.5M SYP.
Students
The average monthly expenditure for students in Syria is 78,000 SYP. Students spend from 12,000 SYP to 520,000 SYP per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
How do people spend their money in Syria?
We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.
The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.
Housing Expenditure23%
23% of total expenses on average (12% to 31%)
| LOW | $0.27 3,500 SYP |
| AVERAGE | $3.5 46,000 SYP |
| HIGH | $35 460,000 SYP |
| Per Month |
People living in Syria typically spend from 12% to 31% of their total monthly expenditure on housing with 23% being the average. The average spend on housing is 46,000 SYP with expenditure ranging from 3,500 SYP to 460,000 SYP. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (5% to 12%)
| LOW | $0.04 580 SYP |
| AVERAGE | $0.58 7,600 SYP |
| HIGH | $5.8 76,000 SYP |
| Per Month |
Utility expenditure like electricity, water, and gas in Syria ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 7,600 SYP with 580 SYP and 76,000 SYP being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $0.09 1,200 SYP |
| AVERAGE | $1.2 15,000 SYP |
| HIGH | $12 150,000 SYP |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 1,200 SYP to 150,000 SYP on commuting with 15,000 SYP being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.
Food and Groceries Cost28%
28% of total expenses on average (20% to 34%)
| LOW | $0.22 2,900 SYP |
| AVERAGE | $2.9 38,000 SYP |
| HIGH | $29 380,000 SYP |
| Per Month |
The average outlay on groceries in a month in Syria is 38,000 SYP. The cost of groceries can range between 2,900 SYP to 380,000 SYP. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.
Healthcare and Medical Services10%
10% of total expenses on average (5% to 13%)
| LOW | $0.06 820 SYP |
| AVERAGE | $0.82 11,000 SYP |
| HIGH | $8.2 110,000 SYP |
| Per Month |
People in Syria allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 820 SYP to 110,000 SYP with 11,000 SYP being the norm.
Leisure and Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $0.04 470 SYP |
| AVERAGE | $0.47 6,100 SYP |
| HIGH | $4.7 61,000 SYP |
| Per Month |
This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 470 SYP to 61,000 SYP with 6,100 SYP being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
| LOW | $0.05 700 SYP |
| AVERAGE | $0.70 9,100 SYP |
| HIGH | $7 91,000 SYP |
| Per Month |
Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 9,100 SYP per month with 700 SYP being the minimum spent amount and 91,000 SYP being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $0.12 1,500 SYP |
| AVERAGE | $1.5 20,000 SYP |
| HIGH | $15 200,000 SYP |
| Per Month |
Expenditure to Income Ratio in Syria
One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.
Spending to Income Ratio
87%
81% to 96%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 4% |
| 50% - 60% | 9% |
| 60% - 70% | 15% |
| 70% - 80% | 25% |
| 80% - 90% | 20% |
| 90% - 100% | 11% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 2% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Syria is 87%
This means that on average, people spend around 87% of their income for living.
According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
78%
Spending-Income-Ratio
73%
86%
Couple
83%
Spending-Income-Ratio
77%
91%
Family
91%
Spending-Income-Ratio
85%
100%
Saving Challenges in Syria
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Syria. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 13% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 12% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 21% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% of the residents said that they are burdened with debt and find it challenging to save money. 12% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 12% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 21% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
How much money can you save in Syria every month?
We asked thousands of people what percentage of their income can they save in a month. Below are the answers.
What percentage of people in Syria manage to save money from their income every month?
Almost 52% of the surveyed people in Syria said that they can save some money at the end of each month while 48% said that aren't saving anything.
Percentage of people saving money by population group in Syria
| Group | Savers | Non Savers |
|---|
| Singles | 54% | 46% |
| Couples | 49% | 51% |
| Families | 44% | 56% |
Savings-to-Income Ratio
The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.
Saving to Income Ratio
Average Monthly Saved Amount
3,200 SYP
$0.25 | 42,000 SYP
$3.2 | 420,000 SYP
$32 |
For most people, 9% to 29% of their monthly income is what they can allocate to their savings, with 16% being the average. The amount of money that people can save is approximately 42,000 SYP on average with savings ranging from 3,200 SYP to 420,000 SYP.
54% of surveyed singles reported some of their income going to savings while 49% of couples said the same. 44% of families confirmed their ability to save money.
How much money do people actually save in Syria?
The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.
Singles
Saving to Income Ratio
Average Monthly Saved Amount
3,200 SYP
$0.25 | 29,000 SYP
$2.2 | 190,000 SYP
$15 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 31% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 14% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 12% to 31% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 29,000 SYP with 3,200 SYP and 190,000 SYP being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
16,000 SYP
$1.2 | 48,000 SYP
$3.7 | 260,000 SYP
$20 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 9% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 10% to 30% of their monthly income, with 18% being the average for most couples. The average amount of money that couples can save is 48,000 SYP with 16,000 SYP and 260,000 SYP being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
23,000 SYP
$1.7 | 64,000 SYP
$4.9 | 420,000 SYP
$32 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 38% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 6% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Syria can save anywhere between 9% to 27% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 64,000 SYP with 23,000 SYP and 420,000 SYP being the minimum and maximum respectively.
A typical and healthy budgeting structure
The 50/30/20 rule
Spending among different people can vary significantly based on factors such as their income, lifestyle,
location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule,
which suggests allocating your income into three main categories in the following percentages.
50% for needs and financial obligations
This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.
30% for wants and discretionary spending
This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.
20% for savings and emergency fund
This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.
About financial planning, money management, and household budgeting
The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Syria
Housing cost for a single person29%
29% of total expenses on average (17% to 41%)
| LOW | $0.41 5,300 SYP |
| AVERAGE | $2.9 38,000 SYP |
| HIGH | $19 250,000 SYP |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile9%
9% of total expenses on average (5% to 14%)
| LOW | $0.07 880 SYP |
| AVERAGE | $0.49 6,300 SYP |
| HIGH | $3.2 42,000 SYP |
| Per Month |
Transport and Fuel Cost5%
5% of total expenses on average (3% to 11%)
| LOW | $0.09 1,200 SYP |
| AVERAGE | $0.65 8,400 SYP |
| HIGH | $4.3 56,000 SYP |
| Per Month |
Food and Groceries Cost19%
19% of total expenses on average (13% to 24%)
| LOW | $0.18 2,300 SYP |
| AVERAGE | $1.3 17,000 SYP |
| HIGH | $8.6 110,000 SYP |
| Per Month |
Healthcare Cost12%
12% of total expenses on average (6% to 16%)
| LOW | $0.10 1,300 SYP |
| AVERAGE | $0.73 9,500 SYP |
| HIGH | $4.9 63,000 SYP |
| Per Month |
Leisure and Shopping Expenditure2%
2% of total expenses on average (2% to 5%)
| LOW | $0.06 730 SYP |
| AVERAGE | $0.40 5,300 SYP |
| HIGH | $2.7 35,000 SYP |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $0.02 290 SYP |
| AVERAGE | $0.16 2,100 SYP |
| HIGH | $1.1 14,000 SYP |
| Per Month |
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $0.20 2,600 SYP |
| AVERAGE | $1.5 19,000 SYP |
| HIGH | $9.7 130,000 SYP |
| Per Month |
Affordable living in Syria
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Syria?
Around 42% of surveyed residents think that living in Syria is affordable with proper budgeting while 58% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Syria
People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options53%
Few low-cost options47%
Based on the survey, 53% of the people living in Syria have no problem finding low-cost alternatives to support a frugal lifestyle while 47% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Food Prices, Dining Expenses, and Grocery Costs in Syria
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Syria
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Syria is approximatly 300 SYP with meal cost ranging from 150 SYP to 500 SYP. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
| 500 SYP | 750 SYP | 1,500 SYP |
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 500 SYP and 1,500 SYP with 750 SYP being the average price of a plate for one person at a regular restaurant in Syria.
Fine dining meal for one price
| 990 SYP | 1,500 SYP | 6,000 SYP |
The price range of a meal at fine-dining restaurant is 990 SYP to 6,000 SYP with the average cost being 1,500 SYP for one person. This is what you would expect to pay a top-tier diner in Syria.
Beverage prices, cappuccino, latte etc..
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Syria is around 200 SYP. Price ranges between 120 SYP and 300 SYP depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
The average price of a large bottle of milk in Syria is 120 SYP. The maximum what you would pay for milk is 150 SYP and the minimum being 99 SYP depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 99 SYP on average with 75 SYP and 150 SYP being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Syria is between 170 SYP and 310 SYP depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 220 SYP.
Pack of beef price
The price of a regular pack of beef or meat is around 300 SYP. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Syria costs around 110 SYP on average with prices rangeing between 80 SYP and 160 SYP depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 30 SYP to 75 SYP. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 70 SYP on average. A bag of apples denotes 1Kg or 1lb depending on location.
Grocery and food expenditure to income ratio
( monthly grocery expenses / monthly income ) x 100
The average grocery-to-income ratio in Syria is around 27%. This means that people spend 27% of their income on grocery and basic household items. The expenditure can range from 19% to 33% depending on salary and location.
Expenditure on food and grocery for every population group
A single person living alone spends approximately 17,000 SYP per month on grocery and food with expenditure fluctuating between 2,300 SYP and 110,000 SYP depending on location and the type of person. The average cost of food and groceries for a couple is around 25,000 SYP per month. That number can be get as low as 8,200 SYP or a high as 130,000 SYP. Families' spending on grocery ranges from 15,000 SYP to 270,000 SYP with the location, income, and size of the family being the most determinite factors.
Prices and cost of goods and services in Syria
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
| 500 SYP | 750 SYP | 1,500 SYP |
Fine dining meal for one
| 990 SYP | 1,500 SYP | 6,000 SYP |
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
| 750 SYP | 990 SYP | 2,000 SYP |
Average car 1-day rental
| 750 SYP | 990 SYP | 1,500 SYP |
Average car price
| 370,000 SYP | 750,000 SYP | 990,000 SYP |
Bus ticket one way
Car Service
| 990 SYP | 1,500 SYP | 3,000 SYP |
Utility cost (monthly)
Utility Bill - Individual
| 880 SYP | 6,300 SYP | 42,000 SYP |
Utility Bill - Couple
| 2,300 SYP | 7,900 SYP | 51,000 SYP |
Utility Bill - Family
| 4,100 SYP | 12,000 SYP | 76,000 SYP |
Internet and cable
| 750 SYP | 1,500 SYP | 2,000 SYP |
Mobile phone charges
| 600 SYP | 990 SYP | 3,000 SYP |
Leisure and activities costs
Movie ticket
One month gym membership
| 1,200 SYP | 1,500 SYP | 3,000 SYP |
Cloths and accessories costs
Pair of jeans or pants
| 880 SYP | 1,200 SYP | 1,900 SYP |
Woman dress
| 830 SYP | 1,100 SYP | 3,700 SYP |
Woman shoes
| 780 SYP | 1,100 SYP | 2,500 SYP |
Men's shoes
| 680 SYP | 830 SYP | 1,700 SYP |
Men suit
| 750 SYP | 930 SYP | 5,000 SYP |
Regular t-shirt
| 370 SYP | 500 SYP | 1,500 SYP |
Housing costs / monthly rent
Studio apartment
| 12,000 SYP | 19,000 SYP | 50,000 SYP |
1-bedroom apartment
| 19,000 SYP | 30,000 SYP | 75,000 SYP |
2-bedroom apartment
| 25,000 SYP | 37,000 SYP | 99,000 SYP |
Housing costs / Buying
Studio apartment
| 2.5M SYP | 3.7M SYP | 7.5M SYP |
1-bedroom apartment
2-bedroom apartment
Furniture Costs
King Size Bed
| 15,000 SYP | 19,000 SYP | 25,000 SYP |
Double Bed
| 9,900 SYP | 15,000 SYP | 19,000 SYP |
Single Bed
| 8,800 SYP | 11,000 SYP | 15,000 SYP |
Living Room
| 17,000 SYP | 21,000 SYP | 75,000 SYP |
Dining Table
| 7,500 SYP | 9,900 SYP | 19,000 SYP |
Sofa or Couch
| 9,900 SYP | 14,000 SYP | 30,000 SYP |
Electronics and House Appliance Costs
TV Set
| 9,900 SYP | 15,000 SYP | 30,000 SYP |
Fridge or Freezer
| 8,800 SYP | 14,000 SYP | 19,000 SYP |
Washing Machine
| 11,000 SYP | 17,000 SYP | 30,000 SYP |
Stove or Cooker
| 11,000 SYP | 14,000 SYP | 19,000 SYP |
Mobile Phone
| 12,000 SYP | 15,000 SYP | 21,000 SYP |
Laptop or Computer
| 14,000 SYP | 17,000 SYP | 30,000 SYP |
Financial Literacy in
Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.
Financial Leteracy37%
We asked residents of whether they acquired any adequate personal financial training in their lives. Approximately 63% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 37% said that they know about the general principles of personal finance from sources other than their own experience.
Difficulty in Budgeting and Financial Planning
We wanted to understand whether residents of have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 56% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 44% said that they have everything under control.
Struggles with finance56%
Easily manages finances44%
Emergency Funds
An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents whether they have an emergency fund and the answers were as follows.
Yes41%
No59%
Based on the survey, 59% of the people living in Syria said that they don't have an emergency fund while 41% said that they do.
Retirement, pension plans, and life after work in Syria
What does the retirement lifestyle look like in Syria and how much retirement savings are required?
Retirement age
The retirement age for most employees in is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.
Retirement planning and savings
There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.
The typical saved amount of money you should have at every age as multiples of monthly salary:| Age | Amount |
|---|
| 25 | 5x monthly salary at age 25 |
| 30 | 10x monthly salary at age 30 |
| 35 | 15x monthly salary at age 35 |
| 40 | 25x monthly salary at age 40 |
| 45 | 32x monthly salary at age 45 |
| 50 | 48x monthly salary at age 50 |
| 55 | 56x monthly salary at age 55 |
| 60 | 64x monthly salary at age 60 |
| 65 | 78x monthly salary at age 65 |
The typical average saved amount of money you should have at every age in Syria:| Age | Amount |
|---|
| 25 | 390,000 SYP |
| 30 | 780,000 SYP |
| 35 | 1.4M SYP |
| 40 | 1.9M SYP |
| 45 | 2.9M SYP |
| 50 | 4.1M SYP |
| 55 | 4.8M SYP |
| 60 | 6M SYP |
| 65 | 7.2M SYP |
Retirement Income Distribution
We asked residents about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 15% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in Syria 8,700 SYP
$0.67 | 78,000 SYP
$6 | 520,000 SYP
$40 |
Typical saving choices for people in Syria
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 13% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 21% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Syria
Housing cost for a couple26%
26% of total expenses on average (19% to 36%)
| LOW | $1.5 20,000 SYP |
| AVERAGE | $4.6 60,000 SYP |
| HIGH | $24 320,000 SYP |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (6% to 12%)
| LOW | $0.18 2,300 SYP |
| AVERAGE | $0.61 7,900 SYP |
| HIGH | $4 51,000 SYP |
| Per Month |
Transport and Fuel Cost9%
9% of total expenses on average (3% to 14%)
| LOW | $0.54 7,000 SYP |
| AVERAGE | $1.6 21,000 SYP |
| HIGH | $8.6 110,000 SYP |
| Per Month |
Food and Groceries Cost17%
17% of total expenses on average (12% to 22%)
| LOW | $0.63 8,200 SYP |
| AVERAGE | $1.9 25,000 SYP |
| HIGH | $10 130,000 SYP |
| Per Month |
Healthcare Cost14%
14% of total expenses on average (8% to 18%)
| LOW | $0.49 6,400 SYP |
| AVERAGE | $1.5 19,000 SYP |
| HIGH | $7.9 100,000 SYP |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (1% to 6%)
| LOW | $0.27 3,500 SYP |
| AVERAGE | $0.81 11,000 SYP |
| HIGH | $4.3 56,000 SYP |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $0.09 1,200 SYP |
| AVERAGE | $0.27 3,500 SYP |
| HIGH | $1.4 19,000 SYP |
| Per Month |
Other Expenses21%
21% of total expenses on average (15% to 27%)
| LOW | $0.76 9,900 SYP |
| AVERAGE | $2.3 30,000 SYP |
| HIGH | $12 160,000 SYP |
| Per Month |
Debt, loans, and mortgages in Syria
Percentage of people who are in debt
According to the survey, 31% of the people in Syria have some kind of debt, loan, mortgage, or credit card payments while 69% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Syria
Debt to income ratio
32%
24% to 41%
( monthly debt payment / monthly income ) x 100
Interpretation
The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 32% of the people's monthly income in Syria goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 18% |
| 40% - 50% | 15% |
| 30% - 40% | 17% |
| 20% - 30% | 10% |
| 10% - 20% | 12% |
| 0% - 10% | 25% |
According to our data, 3% of the debtors in Syria pay 60%+ of their income as debt settlement while 18% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 15% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 17% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Syria
| Debt | % People |
|---|
| Real Estate Mortgage | 8% |
| Auto Loan | 14% |
| Student Loan | 4% |
| Credit Card | 30% |
| Personal Loan | 43% |
8% of debtors in Syria confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 14% of people and personal loans rose at 43%. Lastly, student loans are the main source of debt for 4% of debtors in Syria.
About credit score and debt managementManaging debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.
Good debt vs. Bad debt
Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.
Loan Affordability Index in Syria
Besides measuring the loan-to-income ratio, we asked residents how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.
Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.
| Frequency | % People |
|---|
| Never | 50% |
| Once a year | 24% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 4% |
Financial goals of people in Syria
In an attempt to understand the economic situation in Syria, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.
| Financial Goal | % People |
|---|
| Emergency Fund | 8% |
| Debt Reduction | 43% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 6% |
| Travel or Lifestyle | 6% |
| Healthcare Expenses | 14% |
| Financial Independence | 5% |
Around 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 43% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 6% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Monthly costs and expenses of energy and basic utilities in Syria
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Syria
Utility Bill Cost / Electricity + Water + Gas / Individual
| 880 SYP | 6,300 SYP | 42,000 SYP |
Utility Bill Cost / Electricity + Water + Gas / Couple
| 2,300 SYP | 7,900 SYP | 51,000 SYP |
Utility Bill Cost / Electricity + Water + Gas / Family
| 4,100 SYP | 12,000 SYP | 76,000 SYP |
Internet and cable cost
| 750 SYP | 1,500 SYP | 2,000 SYP |
Mobile phone bill and charges
| 600 SYP | 990 SYP | 3,000 SYP |
Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.
The average monthly expenditure for individuals on electricty, water, and gas in Syria ranges between 880 SYP and 42,000 SYP with average being 6,300 SYP, meanwhile the expenditure of couples is slightly higher at 7,900 SYP with 2,300 SYP and 51,000 SYP being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 12,000 SYP. The cost of internet and WiFi is unchanged among the three groups and ranges from 750 SYP to 2,000 SYP with 1,500 SYP being the average internet bill. Finally, the average monthly mobile charges is around 990 SYP but can range between 600 SYP and 3,000 SYP depending on consumption. Mobile charges include both calling minutes as well as data packages.
Energy / Utility expense to income ratio
( monthly utility expenses / monthly income ) x 100
The average utility-to-income ratio in Syria is around 7%. This means that people pay 7% of their income for energy, water, internet, and mobile charges. Those figures can range from 4% to 11% depending on salary and location.
FamilyAverage monthly expenses and break out of spending for families living in Syria
Housing cost for a family25%
25% of total expenses on average (20% to 35%)
| LOW | $2 26,000 SYP |
| AVERAGE | $5.8 75,000 SYP |
| HIGH | $37 490,000 SYP |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile6%
6% of total expenses on average (4% to 9%)
| LOW | $0.31 4,100 SYP |
| AVERAGE | $0.90 12,000 SYP |
| HIGH | $5.8 76,000 SYP |
| Per Month |
Transport and Fuel Expenses5%
5% of total expenses on average (3% to 7%)
| LOW | $0.63 8,200 SYP |
| AVERAGE | $1.8 23,000 SYP |
| HIGH | $12 150,000 SYP |
| Per Month |
Food and Groceries Cost21%
21% of total expenses on average (14% to 27%)
| LOW | $1.1 15,000 SYP |
| AVERAGE | $3.2 42,000 SYP |
| HIGH | $21 270,000 SYP |
| Per Month |
Healthcare Expenses11%
11% of total expenses on average (7% to 16%)
| LOW | $0.57 7,400 SYP |
| AVERAGE | $1.8 23,000 SYP |
| HIGH | $9.4 120,000 SYP |
| Per Month |
Leisure and Shopping Cost2%
2% of total expenses on average (1% to 6%)
| LOW | $0.31 4,100 SYP |
| AVERAGE | $0.90 12,000 SYP |
| HIGH | $5.8 76,000 SYP |
| Per Month |
Education Cost13%
13% of total expenses on average (6% to 21%)
| LOW | $0.88 11,000 SYP |
| AVERAGE | $2.5 33,000 SYP |
| HIGH | $16 210,000 SYP |
| Per Month |
Other Expenses16%
16% of total expenses on average (9% to 21%)
| LOW | $0.50 6,500 SYP |
| AVERAGE | $1.4 19,000 SYP |
| HIGH | $9.4 120,000 SYP |
| Per Month |
StudentCost of living and expenses break down for students living in Syria
Housing costs for Student17%
17% of total expenses on average (12% to 23%)
| LOW | $0.22 2,800 SYP |
| AVERAGE | $1.4 19,000 SYP |
| HIGH | $9.6 130,000 SYP |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses7%
7% of total expenses on average (5% to 11%)
| LOW | $0.04 470 SYP |
| AVERAGE | $0.24 3,100 SYP |
| HIGH | $1.6 21,000 SYP |
| Per Month |
Transport and Fuel Cost4%
4% of total expenses on average (4% to 10%)
| LOW | $0.06 820 SYP |
| AVERAGE | $0.42 5,500 SYP |
| HIGH | $2.8 37,000 SYP |
| Per Month |
Food and Groceries Expenditure23%
23% of total expenses on average (17% to 27%)
| LOW | $0.18 2,300 SYP |
| AVERAGE | $1.2 16,000 SYP |
| HIGH | $8 100,000 SYP |
| Per Month |
Healthcare Cost9%
9% of total expenses on average (6% to 12%)
| LOW | $0.05 700 SYP |
| AVERAGE | $0.36 4,700 SYP |
| HIGH | $2.4 31,000 SYP |
| Per Month |
Leisure and Shopping Cost2%
2% of total expenses on average (2% to 6%)
| LOW | $0.04 580 SYP |
| AVERAGE | $0.30 3,900 SYP |
| HIGH | $2 26,000 SYP |
| Per Month |
Education Cost18%
18% of total expenses on average (11% to 23%)
| LOW | $0.17 2,200 SYP |
| AVERAGE | $1.1 15,000 SYP |
| HIGH | $7.6 99,000 SYP |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $0.13 1,800 SYP |
| AVERAGE | $0.90 12,000 SYP |
| HIGH | $6 78,000 SYP |
| Per Month |
