Istanbul ranks in the world's top 4 for new car prices
According to data from Deutsche Bank and Numbeo, the average price of a new car in Istanbul has risen to 49,100 dollars; the increase over 10 years is 89 percent.
In a global comparison regarding new car prices, Istanbul has ranked among the most expensive cities. The study, based on data from Deutsche Bank and Numbeo, examined the average price of a Volkswagen Golf 1.5 or an equivalent new car in 40 cities as of 2026.
According to the research, the average price of a new car in Istanbul is 49,100 dollars. With this amount, Istanbul has placed 4th on the list, following Singapore, Tel Aviv, and Copenhagen. The price of a new car in the city has increased by 89 percent in the 2016-2026 period.
Singapore is at the top of the list by a wide margin. The price of a new car in Singapore was calculated at 156,200 dollars. Policies aimed at limiting car ownership and the Certificate of Entitlement (COE) practice, which grants the right to drive and own a vehicle, are influential in the divergence of prices in this city.
TOP 10 MOST EXPENSIVE CITIES
| Rank | City | Country | New car price | 2016-2026 change |
|---|---|---|---|---|
| 1 | Singapore | Singapore | $156,200 | %68 |
| 2 | Tel Aviv | Israel | $57,900 | %70 |
| 3 | Copenhagen | Denmark | $51,300 | %15 |
| 4 | Istanbul | Turkey | $49,100 | %89 |
| 5 | Oslo | Norway | $47,000 | %37 |
| 6 | Hong Kong | Hong Kong | $44,600 | %58 |
| 7 | Geneva | Switzerland | $44,100 | %64 |
| 8 | Amsterdam | Netherlands | $42,300 | %42 |
| 9 | Kuala Lumpur | Malaysia | $41,800 | %20 |
| 10 | Birmingham | United Kingdom | $40,300 | %46 |
Following Istanbul, Oslo ranked with 47,000 dollars, Hong Kong with 44,600 dollars, and Geneva with 44,100 dollars. It was observed that in the majority of the list, new car prices are concentrated in the 35,000 to 50,000 dollar band.
The research also emphasizes that the purchase price of a car constitutes only a portion of the total cost. Fuel, maintenance, insurance, and other operating expenses can significantly change the cost of vehicle ownership from city to city.
News Source: 12punto
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