Do you wish to understand how much the prices and cost of living in Istanbul are?
Istanbul is the fifth-largest city in the world and the largest city in Turkey. This city is in the top 21% of the least expensive cities in the world and the average cost of living in Istanbul is $616. Because of its location as a junction of international land and sea trade routes, Istanbul’s economy has continuously been the center of Turkey’s economic life.
“How much should I earn to have a decent life in Istanbul?”
“How much is the average price for basic services in Istanbul?”
“Can I manage the cost of accommodation and household bills in Istanbul?”
If you are searching for answers to the above questions, here, we will try to give you a concept of the cost of living in Istanbul. Be with us.
How much is the price and cost of living in Istanbul?
Do you want to find one of the best places to live in the world? The city of Istanbul is not only ranked 884 in this list, but it is also considered the best city to live in Turkey. Istanbul contains a population of 15.5 million and is known as the first largest city in Turkey. In addition, Istanbul is known as the largest cultural and financial center of Turkey, which is also very popular among tourists and investors. This city has a high cost of living relative to other Turkish cities, however, compared to the large cities around the globe and European countries, Istanbul can be considered a cheap city to live in.
It does not matter if you are travelling to Istanbul alone or with your family, knowing the cost of living and prices will help you to invest and buy property for sale in Istanbul with an open mind.
You determine the quality of life in Istanbul yourself. How? Everything depends on your salary! The more specialized you are in your work, the more you will definitely earn and the better your life will be. If you are being paid above 50,000 TL per month, then you don’t have to worry about your cost of living in Istanbul, however, If you are getting paid below 30,000 TL per month, then living might be difficult for you.
The cost of living in Istanbul depends on your lifestyle, type of food, clothing, location and area of residence. If you are looking for the most up-to-date prices and living costs in Istanbul, then stay tuned. In addition, the cost of living in Istanbul Turkey depends on the number of members in your family. It is not supposed to cost a couple of two people as much as a family of 4 people!
How much is the monthly cost of living in Istanbul?
You are going to live in the cultural and economic center of Turkey! It is natural that the cost of living in Istanbul per month is higher compared to other small and big cities in Turkey. However, you definitely have more comfort and possibilities at your disposal.
The total monthly cost of living in Istanbul is approximately $ 408.92 or 6,713.55TL, which does not include rent. In addition, the cost of living for a family of four in Istanbul is approximately $ 1,449.92, or 23,804.28TL. Of course, don’t forget that you can always save on your living expenses or live a luxurious and prosperous lifestyle altogether! In any case, the choice is yours.
In 2021, the inflation rate for consumer prices was announced as 36%. This means food prices rose faster while housing and transportation inflation eased in Istanbul. The prices of daily food, fruits and vegetables, medical care and local clothes in Istanbul are very low and affordable compared to the big European cities.
In this section, you will see the cost of living in Istanbul separately. These items make up your average cost of living in Istanbul per month.
The cost of food in restaurants in Istanbul
Is it expensive to live in Istanbul? well, according to this table, it seems not really! The cost of your meals in Istanbul can vary greatly depending on the restaurant and the type of food. You can also find good quality food in small, local restaurants. However, taxes on imported alcohol and international food have certainly made them more expensive than Turkish meals.
|A meal at the inexpensive restaurant||50.00 – 150.00 TL|
|Meal for 2 People, Mid-range Restaurant, Three-course||250.00 – 800.00 TL|
|McMeal at McDonalds||65.00 – 85.00 TL|
|Domestic Beer (0.5 liter draught)||28.00 – 75.00 TL|
|Imported Beer (0.33 liter bottle)||40.00 – 90.00 TL|
|Cappuccino (regular)||18.00 – 50.00 TL|
|Coke/Pepsi (0.33 liter bottle)||10.00 – 25.00 TL|
|Water (0.33 liter bottle)||3.00 – 12.00 TL|
Shopping in the markets and supermarkets of Istanbul
To save on foodstuff costs, you can buy from local markets. All the vegetables and fruits available in these markets are of good quality and even cheaper than supermarkets. Locals also buy fresh vegetables and fruits from the bazaar.
As you can see, the price of basic goods and food in Istanbul is very affordable. This means that you can easily eat out with your friends many nights. Great! This is also one of the best reasons for you as a foreign investor to buy property and invest in Istanbul.
|Milk (regular), (1 liter)||12.00 – 20.00 TL|
|Loaf of Fresh White Bread (500g)||4.50 – 17.00 TL|
|Rice (white), (1kg)||15.00 – 40.00 TL|
|Eggs (regular) (12)||18.00 – 42.00 TL|
|Local Cheese (1kg)||60.00 – 160.00 TL|
|Chicken Filets (1kg)||49.25 – 90.00 TL|
|Beef (1kg) (or Equivalent Back Leg Red Meat)||120.00 – 250.00 TL|
|Apples (1kg)||8.00 – 22.00 TL|
|Banana (1kg)||20.00 – 45.00 TL|
|Oranges (1kg)||10.00 – 30.00 TL|
|Tomato (1kg)||7.00 – 32.84 TL|
|Potato (1kg)||6.00 – 18.00 TL|
|Onion (1kg)||6.00 – 15.00 TL|
|Lettuce (one head)||7.00 – 20.00 TL|
|Water (1.5 liter bottle)||3.00 – 8.00 TL|
|Bottle of Wine (Mid-Range)||80.00 – 240.00 TL|
|Domestic Beer||25.00 – 50.00 TL|
|Imported Beer (0.33 liter)||30.00 – 50.00 TL|
|Cigarettes 20 Pack (Marlboro)||27.00 – 33.00 TL|
Cost of transportation in Istanbul
As the price of gasoline in Istanbul is very high, it is better to use public transportation for your daily commutes. This will save you time and money and you can easily go wherever you want. You can use buses, metros, trams, funiculars, cable cars, shared taxis, ferries and sea buses in Istanbul, which are very affordable.
Istanbul is a historical city full of wonder and beauty. If you, as a tourist, are only a guest of this city for a few days, then you have little time to visit all the beautiful and must-see places in Istanbul. For this reason, I suggest you to use public transportation to save money.
|One-way Ticket (Local Transport)||7.00 – 11.00 TL|
|Monthly Pass (Regular Price)||400.00 – 610.00 TL|
|Taxi Start (Normal Tariff)||8.00 – 20.00 TL|
|Taxi 1km (Normal Tariff)||4.50 – 10.00 TL|
|Taxi 1 hour waiting||48.00 – 100.00 TL|
|Gasoline (1 liter)||19.01 – 25.00 TL|
Average price of Utilities in Istanbul
According to the data, utilities services account for only 6% of your income, which also shows that you do not pay much for using these services in Istanbul. Indeed, all the basic services with the Internet connection included are affordable in Istanbul.
Do not forget that when choosing a house in Istanbul, it is better to get help from an expert to show you the top places to invest your money and buy property in Istanbul. If you don’t, you might lose money and regret your purchase later
|Basic (Electricity, Heating, Cooling) for 85m2 Apartment||600.00 – 1,641.76 TL|
|1 min. of Prepaid Mobile Tariff Local (No Discounts included)||0.65 – 2.00 TL|
|Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)||110.00 – 200.00 TL|
How much does a sport cost in Istanbul?
There are definitely different types of entertainment in Istanbul for every taste. You can use all the sports and fun programs in Istanbul for a reasonable price.
|Fitness Club, Monthly Fee for one Adult||160.00 – 600.00 TL|
|Tennis Court Rent (1 Hour)||120.00 – 300.00 TL|
|Cinema, International Release, 1 Seat||35.00 – 75.00 TL|
The cost of clothes and shoes in Istanbul
Do you know the latest price of clothes in 2022 in Istanbul? The good news is that clothes have different prices. The cost of clothing in Istanbul depends on the type of clothing you choose. If you want to buy branded and original clothes from expensive shops, the prices can be staggering. Nevertheless, in the shopping centers of Istanbul, you can easily buy proper clothes made in Istanbul at reasonable prices.
|1 Summer Dress in a Chain Store (Zara, H&M)||200.00 – 750.00 TL|
|1 Pair of Nike Running Shoes (Mid-Range)||600.00 – 1,650.00 TL|
|1 Pair of Jeans (Levis 501 Or Similar)||230.00 – 1,200.00 TL|
|1 Pair of Men Leather Business Shoes||300.00 – 1,500.00 TL|
The cost of childcare in Istanbul
If you are travelling to Istanbul with your family and children, do not forget about school and university fees. These costs can vary depending on the public or private school and the services you receive.
|Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child||2,000.00 – 7,000.00 TL|
|International Primary School, Yearly for 1 Child||45,000.00 – 150,000.00 TL|
How much is the monthly rent in Istanbul?
The cost of renting and buying an apartment in Istanbul can vary greatly depending on the size of the house and its neighborhood. Since Istanbul also has two sides, Asian and European, you should note that rents and house prices in the European side of Istanbul are usually higher than in the Asian part.
However, do not worry at all! You can find a house suitable for your desired amount of capital and conditions by receiving professional advice from our consultants in Al-Khail. So stay in touch with us.
|monthly rent||Price (range)|
|Apartment (1 bedroom) in City Centre||4,000.00 – 10,000.00 TL|
|Apartment (1 bedroom) Outside of Centre||2,500.00 – 6,000.00 TL|
|Apartment (3 bedrooms) in City Centre||8,500.00- 25,000.00 TL|
|Apartment (3 bedrooms) Outside of Centre||4,200.00 – 12,000.00 TL|
Various reasons other than Istanbul being a tourist city make you interested in living and investing in this city. Definitely, reasonable and affordable costs and prices are one of the reasons which make you want to live in Istanbul.
How much is the average salary and minimum wage in Istanbul?
The amount of monthly salary is determined according to your work experience and ability. Nevertheless, the type of work you do also affects the amount of your salary. You can have a comfortable and normal life in Istanbul by receiving the minimum wage. However, as your income increases, so does your quality of life. In 2022, the minimum wage in Istanbul rose to 4,250 TL per month.
In general, If you have a regular job with decent income, you can easily manage your cost of living in Istanbul. If you are also planning to invest and buy a villa in Istanbul, it is better to go to the neighborhoods that have houses with reasonable prices at the first stage. We can help you there!
Is investing and buying properties in Istanbul affordable?
Buying a house or apartment is definitely an important part of your cost of living in Istanbul as a family. Finding an affordable home that fits your needs can be a time consuming and difficult process. You will definitely need expert advice in this regard.
Considering that new residential real estate construction plans are underway, Istanbul’s economic future is definitely getting brighter day by day. For this reason, the best investment is to buy a property in Istanbul right now. You just have to find the best places live in Istanbul, and we will help you in this way.
If you want to buy a residential property in Turkey and you are looking for the best options, our consultants in Alkhail real estate company are ready to help you and we will answer your questions 24 hours a day. Do not miss this opportunity and apply for permanent residence in Turkey via an investment scheme right now.