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In Istanbul’s busiest neighborhoods, securing a parking space now comes with a price tag that rivals housing costs. Monthly parking subscriptions have surged to ₺20,000 ($457), while drivers in districts like Besiktas, Sisli and Kadikoy must typically pay at least ₺10,000 ($229) just to guarantee a spot, according to Oksijen.
In Istanbul, securing a guaranteed parking spot has become a significant monthly expense for drivers seeking safety and convenience. Prices vary widely depending on neighborhood demand, yet fees tend to rise sharply in areas where residential density and commercial activity overlap.
Examples illustrate how quickly costs escalate within short distances. A monthly subscription at Kadikoy Cinili Parking Garage stands at ₺9,000 ($206), while multi-story garages along Ihlamurdere Street in Besiktas and the nearby Arnavutkoy Durmaz facility charge around ₺12,000 ($274).
Elsewhere, Beyoglu’s Kuledibi Parking Garage requests ₺13,000 ($297), while subscriptions continue to rise in upscale districts.
At the city’s shopping mall in Tesvikiye, monthly parking reaches ₺16,000 ($366), and nearby Tesvikiye Parking demands ₺17,000 ($389) for standard cars and up to ₺20,000 ($457) for SUVs. A single-price model also applies at Empark Tunaman Parking Garage in Nisantasi, where subscriptions have reached the same ₺20,000 level.
The financial comparison becomes more striking when calculated by area. According to the Istanbul Metropolitan Municipality parking regulations, each vehicle requires at least 12.5 square meters of space.
Based on a ₺20,000 monthly fee, this translates to roughly ₺1,600 ($36,60) per square meter.
That figure surpasses local residential rental values in the same neighborhood. Data from Endeksa shows that average rental prices in Tesvikiye stood at ₺721 ($16.49) per square meter as of January 2026, meaning parking space can cost more per square meter than housing itself.
Municipality-operated ISPARK facilities remain comparatively cheaper, although availability continues to pose challenges. For example, a monthly subscription at Macka Multi-Storey Parking Garage costs around ₺9,800 ($224), nearly half the price of some private alternatives, yet drivers frequently struggle to find open spaces.
Industry representatives emphasize that operating expenses play a role but do not fully explain the rise in fees.
Otopark Isletmecileri Dernegi (Parking Operators Association) President Erol Vatansever pointed to staffing salaries, rent, generators, ventilation systems, fire safety infrastructure, elevators, barriers and camera systems as major cost components, along with annual maintenance requirements.
However, he also highlighted regulatory differences between operators. Municipal ISPARK prices are determined by the Istanbul Metropolitan Municipal Council, while district municipalities set fees for garages they operate or tender to private companies. Private parking facilities, by contrast, face no formal pricing limits.
Vatansever argued that similar oversight to valet pricing caps could be introduced, stating, "Just as maximum prices were introduced for valet services, a similar regulation should be implemented for privately operated parking garages."
Rising demand has also pushed valet service prices sharply upward, particularly in high-end neighborhoods such as Etiler, Nisantasi, Kuruceme and Bebek. Fees vary by venue, yet many start around ₺500 ($11.44) and can reach ₺1,500 ($34.32) depending on duration and location.
On Abdi Ipekci Street, Point Vale charges ₺750 ($17.16) for one hour and ₺1,450 ($33.17) for a full day. Ben Vale in Macka asks ₺400 ($9.15) for 30 minutes, with hourly increases afterward. Restaurant valet services in coastal districts typically average around ₺500 ($11.44).
Shopping malls also reflect the upward trend, with valet services costing ₺600 ($13.72) at Akmerkez and ₺650 ($14,87) at IstinyePark.
Hotels sit at the top end of the scale: St. Regis charges ₺900 ($20,58), Mandarin Oriental requests ₺800 ($18,30) for up to three hours and ₺1,900 ($43,46) daily, while Four Seasons lists ₺800 ($18,30) as its base rate for stays up to three hours.
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