Lira Depreciation and High Tariffs Place Istanbul Among World's Most Expensive Cities for Imported Consumer Goods
A recent financial analysis conducted by Deutsche Bank highlights how global currency fluctuations and local tax structures have affected retail pricing in Turkey. According to the report, Istanbul now ranks among the most expensive global cities to purchase high-end consumer goods, such as Apple iPhones and Volkswagen Golf vehicles.
The high consumer costs are primarily driven by heavy import taxes, Special Consumption Tax (ÖTV) rates, and the depreciation of the Turkish Lira against major currencies.
| Commodity | Comparative Cost Level in Istanbul | Primary Driver |
| Volkswagen Golf | Extremely High | Special Consumption Tax (ÖTV) & Customs |
| Apple iPhone | Globally Top-Tier | Value Added Tax (KDV) & Luxury Surcharges |
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