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?
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.
How much is the monthly cost of living in Istanbul?
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.
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.
The cost of food in restaurants in Istanbul
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||40.00 – 100.00 TL|
|Meal for 2 People, Mid-range Restaurant, Three-course||20.00 – 800.00 TL|
|McMeal at McDonalds||50.00 – 70.00 TL|
|Domestic Beer (0.5 liter draught)||22.00 – 60.00 TL|
|Imported Beer (0.33 liter bottle)||30.00 – 75.00 TL|
|Cappuccino (regular)||15.00 – 40.00 TL|
|Coke/Pepsi (0.33 liter bottle)||6.75 – 20.00 TL|
|Water (0.33 liter bottle)||2.50 – 10.00 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.
|Milk (regular), (1 liter)||9.00 – 17.00 TL|
|Loaf of Fresh White Bread (500g)||3.50 – 15.00 TL|
|Rice (white), (1kg)||13.00 – 30.00 TL|
|Eggs (regular) (12)||15.60 – 36.00 TL|
|Local Cheese (1kg)||52.00 – 130.00 TL|
|Chicken Filets (1kg)||49.25 – 90.00 TL|
|Beef (1kg) (or Equivalent Back Leg Red Meat)||100.00 – 200.00 TL|
|Apples (1kg)||7.00 – 20.00 TL|
|Banana (1kg)||17.00 – 38.00 TL|
|Oranges (1kg)||6.00 – 25.00 TL|
|Tomato (1kg)||13.00 – 32.84 TL|
|Potato (1kg)||5.00 – 15.00 TL|
|Onion (1kg)||4.00 – 10.00 TL|
|Lettuce (one head)||7.00 – 20.00 TL|
|Water (1.5 liter bottle)||2.50 – 7.00 TL|
|Bottle of Wine (Mid-Range)||56.80 – 200.00 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.
|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|
|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.
|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
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|
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.
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.
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.