What is the Cost of Living in Istanbul, Turkey?

What is the Cost of Living in Istanbul, Turkey?

In Istanbul, Turkey quite different expense items are taken into consideration as the cost of living. These expenses, which are categorized under different topics, reveal a net cost in total. In general, Istanbul, being a mega city, has higher living costs in comparison with the other cities in Turkey. Within the scope of the cost of living in Istanbul, people who want to live in Istanbul must be above a certain income level. Thus, they will be able to enjoy Istanbul’s limitless offerings.

Istanbul has a huge difference in cost of living between the center and districts. Therefore, a separate evaluation is required for each district. Especially since the European Side has slightly more luxurious center and districts, it has higher costs. In below, general cost of living in Istanbul is calculated. Besides that, rental costs are not included while taxes and insurances are included for the homeowners in Istanbul.

Utility and Maintenance Expenses

Utility expenses as a living cost in Istanbul, Turkey are slightly higher than in other cities. Water, electricity, internet, telephone, gas, and satellite expenses vary according to the apartment, flat and house where you live. If it is experienced on a closed gate community, monthly maintenance payments are added to these expenses. These bills, which are added to the household billing expenses, can increase, or decrease according to the region of residence. However, in general, we can say that utility expenses vary between 400 and 800 TL. In addition to that, a maintenance fee of between 500 TL to 2000 TL exists in the new real estate projects.

Transportation Expenses

Transportation expenses is another cost item that needs to be evaluated in terms of cost of living in Istanbul, Turkey. Istanbul offers many options for people who are willing to use public transportation. There are enriched transportation options such as bus, metrobus, metro, tram, ferry, minibus, taxi, and sea taxi. These public transportation vehicles, which are used with Istanbulkart, can be used at very reasonable prices. In this regard, Istanbul offers very low transportation costs. 

As a living cost in Istanbul, Turkey, it is seen that vehicle owners may encounter costs such as 5,000 TL per year, together with expenses such as taxes, insurance, and maintenance. In addition, if public transportation services are preferred, the monthly cost for transportation will be around 250 TL per person.

Grocery Expenses

There are also many options for grocery shopping within the scope of cost of living in Istanbul, Turkey. There are different chain supermarkets and other grocery shops for daily shopping in every district and the center. Especially grocery shopping expenses are almost at the same level as other cities. At this point, grocery shopping can be provided with an expense of 500 TL to 1000 TL per week for 2 people. For example, kilogram price of lamb meat, which is an important criterion for cost-of-living comparison between cities, varies between 60 and 80 TL. In addition, the average kilogram price of chicken meat is around 22 liras.

Social Life Expenses

Istanbul is a city that offers a lot of options in terms of social life in general. In addition, different type of social activities can be enjoyed. Istanbul has an extremely large number of places as restaurants, cafes and bars. All these social living expenses within the scope of living costs in Istanbul Turkey vary from person to person. In addition to being quite affordable places, there are places with high prices.

For people who want to go out for a dinner or lunch, fast-food meals cost around 25-35 TL on average while price for lunch or dinner in a middle-class restaurant is around 100 – 150 TL per person.

Insurance and Council Tax

For the cost of living in Istanbul Turkey, the last expense items are tax and insurance. First, the tax issue completely changes depending on the official price of the property. There are also very low amounts compared to countries such as the UK and the USA.  Compulsory earthquake insurance and other insurances are also available for reasonable prices. When all these expenses are taken into account within the scope of the cost of living in Istanbul Turkey, a general cost of living that is not very high emerges. Insurance and municipal tax costs also appear as expenses that vary between 400 and 1500 lira per year for an average property.