The construction of high-rise residential buildings has increased dramatically in line with the expansion of cities. However, this type of buildings has relatively higher annual energy consumption and further relies on comprehensive use of fossil fuels. Furthermore, these buildings are rather expensive compared to other types of residential buildings by the global costs throughout their economic life cycle. The present study aims to contribute in improving the energy performance of high-rise residential buildings based on the cost-optimal framework methodology as provided in Recast Directive on Energy Performance of Buildings (EPBD 2010/31/EU). Recognized as an EU candidate and engaged in accession talks for full membership, Turkey is required to comply with the provisions stipulated in this Directive. In the scope of the present study, advanced retrofit measures aimed to improve the energy performance of heating, ventilation, and air-conditioning systems are suggested based on a high-rise residential building, a representative case study in Turkey. The results indicated that use of decentralized heat recovery ventilator systems combined with demand-controlled ventilation strategy would decrease the energy consumption by an annual rate of 39% in high-rise residential buildings. Besides, it was concluded that use of photovoltaic and waste heat recovery systems was associated with significant superiority in improving the energy efficiency level of high-rise residential buildings at cost-optimum scenarios. In the present study, the aforementioned retrofit measures helped decrease the annual energy consumption and global cost by 50% and 23%, respectively. Accordingly, it was suggested that the utilization of photovoltaic and waste heat recovery systems in high-rise residential buildings should be mandatory through an increase in incentives intended for renewable energy systems and amendment of the building codes in Turkey.