Cost of Living in Istanbul

Istanbul has a high cost of living relative to other Turkish cities, but it's fairly cheap when considered in a global context. It was ranked 185th out of 227 cities worldwide in the 2023 Mercer Cost of Living Survey. The country's recent struggle with inflation has depreciated the value of the lira, but expats earning in stronger currencies will have strong purchasing power in Turkey.

New arrivals in Istanbul will find that accommodation is their biggest expense, while fresh produce is affordable compared to Western Europe. That said, an expat's choice of lifestyle will have the biggest influence on their monthly expenses.

Cost of accommodation in Istanbul

Accommodation will be a large expense in Istanbul – though costs can range tremendously depending on location and accommodation type.

Houses and apartments with a view of the Bosphorus are available on both the Asian and European sides of Istanbul, but housing is generally pricier on the European side. Most quoted rental prices also don't include monthly maintenance and utility costs, so expats should expect some additional expenses.

Cost of goods in Istanbul

Petrol in Turkey is particularly expensive when compared to Europe and the US, as are imported goods and alcohol. This includes electronic items, such as cameras and computers, as well as typically Western foods such as maple syrup.

Istanbul is generally cheaper than most Western countries for daily groceries, medical care and domestic help. Fresh vegetables and fruit can be bought at bazaars (weekly markets) for low prices, and the local equivalent of many Western brands will be considerably cheaper and often equally satisfying.

Cost of entertainment and eating out in Istanbul

The cost of entertainment in Istanbul can be difficult to predict, as it varies greatly depending on the type of activity and location. Expats in Istanbul can expect prices to be mostly lower, however.

The city offers expats a chance to delve into its rich heritage by visiting historical landmarks or soaking up the energy of the bustling bazaars. For a unique experience, expats can catch a traditional Turkish performance like belly dancing. Meanwhile, the city's lively nightlife scene offers a range of options, from intimate bars to high-energy nightclubs. For those seeking a touch of home, Western-style entertainment can also be found in Istanbul, particularly in tourist areas and international venues.

The cost of eating out in Istanbul as an expat can vary greatly, with a range of local and international cuisine options available that cater to different budgets and tastes. The quality of dining experiences in Istanbul can also vary, but the city is known for its rich culinary heritage, offering a range of delicious and authentic dishes. From street food vendors to fine dining establishments, expats can discover a wealth of dining options in the city.

Cost of transport in Istanbul

Public transport in Istanbul is highly efficient, extensive and affordable. Most expats find that they don't need a car, especially as reserved parking spaces are expensive. Despite this, the cost of buying a car is not especially pricey in Istanbul.

Cost of education in Istanbul

The cost of education in Istanbul varies depending on the type of education that parents opt for. Public education may be less expensive compared to private or international schools, but the language of instruction is Turkish, and quality of education and resources may differ. Private schools in Istanbul can provide a higher quality of education and resources, but they come with a higher price tag. On the other hand, international schools in Istanbul offer a globally recognised curriculum, but fees can be sky-high.

Cost of healthcare in Istanbul

Healthcare in Istanbul is generally affordable, especially when compared to much of Europe. Public healthcare is subsidised, and even private healthcare is reasonably priced. Costs can add up over time, though, so we recommend that expats take out a health insurance policy.