Budget Friendly Restaurants on the Michelin Recommended List Istanbul

Explore Michelin Bib Gourmand‑acclaimed restaurants near Pera, Karaköy, and Beyoğlu! If you have a week in Istanbul, you can devote a day to each of these restaurants. These restaurants, which have brought the heritage of Turkish cuisine to the Michelin recommendation list, are also favorites among locals. With an average budget of around 25-30 euros, save this list for a special gastronomic experience.

Stepping into Karaköy Lokantası feels like entering an elegant Istanbul dining room of another era—cerulean İznik tiles gleam under soft lighting while the smell of caramelized onions and buttery bulgur floats in the air. This restaurant masterfully straddles the line between the traditional Turkish meyhane and modern Mediterranean bistro.

Since 2000, it has been serving time-honored recipes with finesse: tender hünkar beğendi (sultan’s delight with lamb), creamy artichokes in olive oil, and perfectly grilled octopus. A darling of both locals and foreign food critics, Karaköy Lokantası made it to the Michelin Bib Gourmand list for its balance of elegance and affordability—main dishes rarely exceed €25–30. It’s especially famous for its weekday lunch menu, where civil servants, designers, and artists gather over rakı and seasonal meze.

Image: Karaköy Lokantası

Cuisine: Turkish Mediterranean with Aegean influences.

Cultural Significance: An essential meyhane for Istanbulites who crave elevated but approachable classics.

Reservation: Recommended, especially for dinner.

Kemankeş Street No: 37/A Karaköy, Beyoğlu, Istanbul, Türkiye

In the artsy heart of Çukurcuma, Cuma offers a rustic-chic haven where Turkish traditions flirt with modern Mediterranean minimalism. Housed in a charming historical building, the dining room spills out onto a green terrace, with tables made of reclaimed wood and shelves stacked with olive oil jars and cookbooks. Here, seasonality is king. The menu changes weekly, emphasizing local produce, sustainably sourced fish, and organic grains. Signature dishes include roasted beetroot with strained yogurt and pistachio, or lamb shoulder braised with root vegetables.

Founded by food lovers with a background in slow food and sustainability, Cuma earned its Bib Gourmand status by staying true to its ethos: high quality, no fuss, and fair prices. The restaurant is especially popular among creatives, filmmakers, and food writers who praise its soulful, nourishing plates.

Image: Cuma

Cuisine: Contemporary Turkish-Mediterranean.

Historical & Cultural Notes: Combines modern wellness cuisine with Çukurcuma’s artistic heritage.

Reservation: Recommended on weekends.

Çukurcuma Street No: 53/A Beyoğlu, Istanbul, Türkiye

The name Tershane, meaning "shipyard", echoes the maritime past of Karaköy, but the cuisine here speaks of a vibrant Anatolian present. Set inside a sleek industrial space that was once a warehouse, this modern meyhane stands out with its charcoal-grilled meats, seasonal salads, and elevated street food reinterpretations. Dishes like harissa-marinated lamb chops, charred eggplant with garlic yogurt, and sour cherry bulgur pilaf showcase the bold use of regional spices and techniques.

The kitchen is led by a young and dynamic team passionate about reintroducing Anatolian street foods with flair and refinement. It’s no wonder that Michelin recognized Tershane for its adventurous take on Turkish comfort food with prices that remain remarkably reasonable—most mains hover between €20–28. The crowd is hip yet unpretentious: designers, architects, and Karaköy’s creative professionals dine here regularly.

Image: Tershane

Cuisine: Modern Turkish grill & meyhane cuisine.

Cultural Relevance: Revives Turkish street flavors with urban sophistication.

Reservation: Not necessary during weekdays.

Mumhane Street, No: 50, Karaköy, Istanbul, Türkiye

A true icon of Istanbul, Pandeli is more than a restaurant—it’s a living museum of Ottoman-Turkish gastronomy. Tucked inside the historic Spice Bazaar, Pandeli has served the likes of Queen Elizabeth II and Audrey Hepburn since the 1950s. Reopened and revitalized in recent years, it offers an opulent yet nostalgic dining experience with turquoise tiles, white tablecloths, and gilded ceilings.

The food is classical Turkish, heavy on Ottoman palace influences: hünkar beğendi, almond-stuffed chicken, and pilaf enriched with currants and pine nuts. Every dish tells a story, and the staff are eager narrators. Despite its fame, it retains a modest pricing structure—making it a perfect Bib Gourmand pick. Locals adore it for its unwavering consistency, and culinary tourists come for its soul.

Image: Pandeli

Cuisine: Ottoman-Turkish, with royal influences.

Historical Importance: One of Istanbul’s most storied eateries, dating back over 70 years.

Reservation: Recommended during lunch hours.

Spice Bazaar, No: 1, Eminönü, Istanbul, Türkiye

As the name suggests, SADE – Beş Denizler Mutfağı (Five Seas Cuisine) draws inspiration from the geography of the five seas surrounding Anatolia. This region encompasses Turkey, Syria, Iraq, Iran, and Azerbaijan, and is surrounded by the Black Sea, the Caspian Sea, the Persian Gulf, the Red Sea, and the Mediterranean Sea. Here, simplicity and depth in gastronomy come together, with regional herbs and meats and centuries-old cooking methods taking center stage. Located in the heart of Nişantaşı, SADE welcomes its guests with a colorful array of flavors in its elegant interior design and cozy garden.

Chef Deniz Şahin's menu features flavors from memory, offering you the opportunity to sample the rare details of Anatolian cuisine. Stuffed grape leaves, wild garlic stew, and wood-fired flatbreads are just a few examples. Awarded the Bib Gourmand prize for offering such uniqueness and excellence at reasonable prices, SADE is particularly beloved by Istanbulites seeking traditional flavors beyond the usual suspects when it comes to Istanbul cuisine.

Image: Sade - Beş Denizler Mutfağı

Cuisine: Traditional Anatolian flavors, dishes from the rich culinary heritage of the lands surrounding Turkey

Cultural Significance: High-quality chef cuisine at affordable prices in a stylish and exclusive setting. A local favorite.

Reservation: Walk-ins welcome; reservations available online.

Akkavak Street, No:36, Şişli (near Beyoğlu), Istanbul, Türkiye

From its vibrant beginnings in the 1960s, Tatbak has remained an Istanbul institution, renowned for its Gaziantep‑style lahmacun and juicy kebabs. Nestled in Teşvikiye (Akkavak Sokak), the retro décor—stained‑glass windows, marble counters—evokes nostalgia, while the aromas of spice‑balanced meat and dough awaken the appetite.

The kitchen honours traditional Turkish flavours, layering sweet, spicy, tangy notes with impeccable technique and ideal textures. Dishes like the spicy minced‑meat lahmacun generously garnished with parsley, and the signature lamb sausage‑beef kebab, deliver bold, comforting tastes beloved by locals and lauded by Michelin inspectors for outstanding value.

Image: Tatbak

Cuisine / Heritage: Gaziantep‑anchored Turkish kebab and lahmacun, reflecting provincial tradition in Istanbul.

Importance: Among Michelin‑recommended Bib Gourmand restaurants, it’s a living legend for budget‑minded locals and food seekers alike MICHELIN Guide.

Reservation: Reservations are not available via Michelin—they advise walk‑in visits.

Valikonağı, Akkavak Street No: 38/B, Şişli (near Beyoğlu), Istanbul, Türkiye