What is the average cost of housing in Istanbul?

If you are thinking about moving to Istanbul, cost of living in probably a key consideration. Expats commented about the cost of housing...

"Housing costs vary widely here. We don't live in a compound, so we pay much less in rent. Our rent for a 3 bedroom 1-1/2 bath flat with a Bosphorus view and within walking distance of shopping and the ferryboat is $400 US," commented one expat who made the move to Istanbul, Turkey.

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"The cost of housing in Istanbul can vary greatly depending on the area and type of property. Generally, the average cost of renting an apartment in Istanbul is around €500-€800 per month, while the average cost of buying a property is around €1,500-€2,500 per square meter," remarked another expat in Istanbul, Turkey.

What is the average cost of housing in Istanbul?

If you live in Istanbul, newcomers to Istanbul would love to hear your answer to this question.