COST OF LIVING IN ISTANBUL | Property in Turkey
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Property in Turkey

COST OF LIVING IN ISTANBUL

Posted by Property In Turkey on 10 October 2015
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If you want to buy a property or invest in İstanbul, you may have to make your budget plan before you begin this buying process. İstanbul is a very dynamic and developing city that the economic situation is changing rapidly. You may wonder how so? The culture diversity and the different economic situations are some of the reasons. This is such an interesting city that if you know the city, you can enjoy a cheap good quality drink while you are enjoying the view of the amazing Bosphorus.

It depends on your life standards. If your budget limit is high, you don’t need to worry in fact; the fancy restaurants, the luxury villas and the amazing places wait for you. The spacious and elite way of Istanbul is one of a kind. However, if your budget has a definite limit, still, you will be able to enjoy this city. You can go to a restaurant and eat a delicious meat that costs about 15 TL (that price changes to around 40 TL if you go to a fancy place). The upmarket places show a quality and style difference surely.

It depends on where you live. The house prices show a great variety; when you buy a property around spacious spots like Ataşehir, Levent or Maslak, your budget should be up to approximately 5000 TL monthly for a family that includes two person. If your budget is below 5000 TL, check out different districts like Beylikdüzü, Büyükçekmece. There, you can still find a luxury flat with lower prices. So what about the house rentals? According to the current statistics, the rent of one-bedroom apartment around the center cost around 1200-1350 TL, this changes to its double price if you are looking for a three-bedroom apartment.

These two points are really important when you try to figure out your cost of living in İstanbul. However, your daily spendings will not be that much expensive since the prices of grocery, daily care and similar things are cheaper when compared to the other countries. It is reported that living in İstanbul area is %43 cheaper than in Dubai and %60 cheaper than in London. Here are some price examples of the daily expenses.

Food & Beverage
Big Mac Meal – 14 TL
Cappuccino – 5 TL
Water (5 litre) – 3.50 TL
Eggs (12) – 5.31 TL
Pack of cigarettes (Winston) – 8 TL

Utilities
Internet (monthly) – 50 TL
General utilities (hot water, electric, gas, monthly) – 250 TL
Mobile Tariff Local (per minute) – 0.44 TL

Transportation
Taxi rate (per km) – 3.20 TL
Gasoline (per litre) – 4.45 TL
Monthly pass – 170 TL

Housing
Laundry detergent (3 l.) – 20 TL
40” flat screen TV – 1.999 TL

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