Cost of living in Istanbul

As with any major city, the cost of living in Istanbul can vary depending on one’s lifestyle and preferences. However, compared to other European cities, Istanbul generally offers a lower cost of living, making it an attractive option for expats and digital nomads seeking a more affordable destination.

Housing is often the biggest expense when it comes to cost of living, and Istanbul is no exception. The city offers a wide range of housing options, from luxurious apartments in central areas to more affordable options in the suburbs. Rent prices can vary significantly, with average monthly rents ranging between 2,500 – 6,000 Turkish lira ($275 – $660) for a one-bedroom apartment in the city center. For those on a budget, more affordable options can be found in the outskirts of Istanbul, where the average rent drops to around 1,000 – 2,000 Turkish lira ($110 – $220) for a one-bedroom apartment.

Transportation costs in Istanbul are relatively reasonable. The city has an extensive and efficient public transportation system, including buses, trams, subway lines, and ferries. The Istanbulkart, a rechargeable card used for all modes of public transportation, provides discounted fares. Monthly transportation costs can range from 150 – 300 Turkish lira ($16 – $33) depending on the frequency of travel.

Food prices in Istanbul can be both wallet-friendly and extravagant, depending on dining preferences. Local markets, known as “pazars,” offer fresh fruits, vegetables, meat, and fish at affordable prices. Eating out at local restaurants and street vendors can also be very reasonable, with a basic meal costing around 20 – 40 Turkish lira ($2.20 – $4.40). However, dining at more upscale restaurants or international chains can significantly increase the bill.

Utilities, including electricity, heating, cooling, water, and garbage services, are generally affordable in Istanbul. On average, expats can expect to pay around 400 – 600 Turkish lira ($45 – $65) per month for these essential services in a one-bedroom apartment. Internet and mobile phone costs are also reasonably priced, with monthly bills ranging from 100 – 200 Turkish lira ($11 – $22) depending on the provider and package.

Healthcare in Istanbul is of high quality, and the city is home to many excellent medical facilities. Turkey’s public healthcare system, Sosyal Güvenlik Kurumu (SGK), is accessible to Turkish citizens and foreign residents who contribute to the system. Private health insurance is also widely available and can provide additional coverage and access to private hospitals and clinics.

Despite the lower cost of living, it is important to note that salaries in Istanbul may not be as high as in some other parts of Europe. Therefore, expats and digital nomads should carefully consider their income sources before making the move to Istanbul.

In conclusion, the cost of living in Istanbul is generally more affordable compared to other major European cities. With reasonable housing prices, affordable transportation options, and reasonably priced everyday necessities, Istanbul offers an attractive living experience for expats and digital nomads looking for a culturally rich and vibrant city without breaking the bank. However, as with any relocation, it is essential to carefully research and plan to ensure financial stability and a comfortable living experience.