Turkey ranked first among the 41 economies surveyed in terms of the price of Apple’s new smartphone, according to a report by the Deutsche Bank Research Institute.
The 256 GB iPhone 17 Pro sells for approximately USD2,592 in the country—2.2 times more expensive than in the U.S. Japan and South Korea were the only markets where the device was cheaper than in the U.S.
The study’s authors attribute the smartphone’s high price in Turkey to taxes, import costs, and the long-term weakening of the Turkish lira.
Istanbul also ranked fourth among 69 cities in terms of the cost of a Volkswagen Golf 1.5. The car’s price is estimated at USD49,121, which is approximately 39% higher than in New York. The car is more expensive only in Singapore, Tel Aviv, and Copenhagen.
The average net monthly salary in Istanbul is about USD1,173. Rent for a three-bedroom apartment is estimated at USD1,943, for a one-bedroom apartment at USD968, and the cost of purchasing a home in the city center is approximately USD3,087 per square meter.
Thus, certain imported consumer goods in Turkey may cost more than in countries with significantly higher per capita incomes.
