Moving house in Istanbul costs thousands of liras

ISTANBUL

Moving into a new house in Istanbul, Türkiye’s most populous city, costs tenants up to tens of thousands of Turkish Liras.

Many people have changed homes in recent past due to the urban transition projects and disagreements with landlords in the country’s most expensive and populous city.

If one does the math, moving into a 3-bedroom apartment may cost as much as 150,000 liras ($4,400). That includes deposit, an advanced rent payment, fee for real estate agent, payment for moving company and basic repair job at the apartment.

This calculation is based on data showing that the average rent of a 3-bedroom apartment in Istanbul is 25,000 liras per month.

According to regulations, landlords can demand a deposit equivalent of 3-months’ rent. But mostly, the parties settle for one month’ or two-month’s rent. If they are renting a 3-bedroom apartment, new tenants should pay a deposit of 50,000 liras.

Real estate agents’ fees are one month’s rent plus the value-added tax, which adds up to around 30,000 liras.

Moving companies charge around 25,000 liras but the price can go up to 30,000 liras depending on the distance.

If the new apartment needs some basic repair work, this will cost another 25,000 liras to 30,000 liras.

At the end of the day, a new tenant is likely to end up paying around 150,000 liras for moving into a new apartment in Istanbul.

The Reidin-enakliyat Istanbul moving index increased by 27.54 percent in the second quarter of 2024 from the first quarter. The gauge rose 17.74 percent compared with the second quarter of last year.