How much does it cost to rent an apartment in Istanbul: Media shocked by calculations.

Moving into a new home in Istanbul, Turkey's largest city, costs renters tens of thousands of Turkish liras. This is reported by local media.

Many people in the country's most expensive metropolis have recently been forced to move to other housing due to urban transformation projects and disagreements with landlords.

Estimates show that moving to a three-room apartment can cost 150 thousand lira ($4.4 thousand). This includes a deposit, advance rent payment, real estate agent's fee, moving company payment, and basic repairs in the apartment.

This calculation is based on data showing that the average rent for a three-room apartment in Istanbul is 25 thousand lira ($750) per month.

According to the rules, landlords can require a deposit equivalent to three months' rent. But mostly the parties agree on rent for one or two months. If tenants rent a three-bedroom apartment, they must pay a deposit of 50 thousand liras ($1.4 thousand).

Real estate agents' fees amount to one month's rent plus VAT, which is about 30 thousand lira ($883).

Moving companies charge about 25 thousand lira ($750), but the price can rise to 30 thousand lira ($883), depending on the distance.

If basic repairs are needed in the new apartment, it will cost another 25-30 thousand lira ($750-883). Additionally, you need to pay for furniture, as most apartments are rented unfurnished.

Overall, moving to a new apartment in Istanbul will cost a renter about 150 thousand liras ($4.4 thousand).

Price Increase

The Reidin-enakliyat Istanbul moving index rose by 27.54% in the second quarter of 2024 compared to the first quarter. The indicator increased by 17.74% compared to the second quarter of last year.

Minimum and Average Salaries

The minimum salary in Turkey is 17 thousand Turkish liras (approximately $500), and the average salary in Turkey is about 19,200 lira (approximately $566).

Tourist Traffic

Turkey records an increase in tourist flow despite high prices. Only Istanbul was visited by more than 8.5 million foreign citizens in the first half of the year. The city, with its richest history and many well-preserved attractions, attracts tourists from all over the world.

A record number of tourists - 7.333 million - visited Turkey in July, despite high inflation and rising prices, according to data from the country's Ministry of Tourism. This is 2.6% more compared to the same month last year.