Deutsche Bank: Türkiye Among World’s Worst for Tech Prices

A new report by Deutsche Bank, titled “The Mapping of Prices Around the World 2025”, places Türkiye among the lowest globally in purchasing power and ranks it as one of the most expensive countries for technology products, particularly iPhones. The findings shed light on Türkiye’s declining global economic position due to a combination of rising prices, currency depreciation, and stagnant wages.

Türkiye Ranked Among the Most Expensive for iPhones

In one of the report’s most striking warnings, Türkiye tops the global list for the most expensive iPhone 16 Pro (128GB) prices. With the device retailing at around $2,200 in Türkiye, compared to $1,100 in the U.S., Deutsche Bank cautioned:

“Türkiye, Brazil, Egypt, Sweden, and India are the worst places to lose your iPhone. Türkiye is 100% more expensive than the U.S.”

This price gap stems from high import taxes, currency volatility, and low income levels, making high-end tech increasingly inaccessible for the average Turkish consumer.

Purchasing Power Plunges Near the Bottom Globally

Türkiye ranked 64th out of 69 countries in purchasing power, ahead of only countries in deep economic crises such as Argentina, Egypt, and Venezuela. Since 2010, Türkiye has dropped over 20 places, marking it as one of the worst-performing economies in the index.

Deutsche Bank analysts attribute this dramatic fall to:

• Persistently high inflation

• The Turkish lira’s continued depreciation

• Wage increases that fail to keep up with price surges

Housing Becomes Increasingly Unaffordable

The report also highlights a severe housing affordability crisis. In Istanbul, property prices in USD have doubled (up 103%) in the last five years, while incomes have increased by just 18%. As a result, a middle-income household now needs to spend over 70% of its income on mortgage payments to afford a city-center apartment.

Income Gap Deepens Consumer Inequality

In the net income index, Türkiye ranks 57th out of 69 cities, with average monthly take-home pay in Istanbul at $934. In contrast, cities like Geneva offer average net wages nearing $7,984. This income disparity amplifies cost pressures across nearly all consumption categories.

Even everyday expenses—such as restaurant meals, movie tickets, or branded jeans—are considered relatively expensive in Türkiye, both in absolute terms and when adjusted for purchasing power.