Although it's perhaps a little cheaper than in Europe, compared to the rest of Turkey, prices in Istanbul are quite high.
Here are some examples of prices in Istanbul so you can budget for your trip:
- Tram Ticket: 2.50 TL (US$ 0.40)
- Half litre bottle of water: 1 TL (US$ 0.10)
- Tea: Between 0.50 TL (US$ 0.10) and 1.50 TL (US$ 0.20) (depending on the area you are in).
- Soft Drink: Between 2 TL (US$ 0.30) and 3 TL (US$ 0.40)
- Lamb Kebab: Between 3 TL (US$ 0.40) and 5 TL (US$ 0.70)
- Pint of beer: Between 5 TL (US$ 0.70) and 7 TL (US$ 1) (Beer is expensive in Istanbul).
- Dinner for two in a standard restaurant: 40 TL (US$ 5.80) without wine.
- Double room in a central hotel: From100 TL (US$ 14.60) per night.
- Taxi from the airport: 35 TL (US$ 5.10).
- Monuments: De 10 TL (US$ 1.50) a 20 TL (US$ 2.90).
Pay in the local currency
Although in many places you can pay in euros or dollars without any problem, the best option is to pay in the local currency. Otherwise, the exchange rate is usually not especially good.