Buy-to-Let Property in Turkey: Buying for Rental Income

Last updated: November 2026. Buying property for rental income in Turkey is a different exercise from buying a home. The question is no longer which flat you like, but which flat a tenant will pay for, month after month, after costs and tax. This guide follows the order in which a buy-to-let decision is made. For the wider picture, our guide to investment property in Turkey compares strategies, and the city and district figures are in Turkey property investment returns by city.

What a Rental Property in Turkey Earns Today

Two sources give a dated starting point. Global Property Guide put the average gross rental yield in Turkey at 7.32% in the first quarter of 2026 (7.76% in the third quarter of 2025), with Istanbul at 8.17%, Ankara at 8.10%, Izmir at 6.99% and Antalya at 6.14%; its update for the third quarter of 2026 put the national average at 7.86%. It adds that the net figure usually comes out 1.5 to 2 percentage points below the gross one. The central bank (TCMB) New Tenant Rent Index for September 2026 showed rents on new leases 26.6% higher than a year earlier across Turkey and 35.5% higher in Istanbul; after inflation, national rents were 2.4% lower.

Both series are in lira. For a foreign landlord, the result in dollars, euros or pounds also depends on the exchange rate during the holding period, and none of these figures is a forecast.

Step 1: Choose the Tenant Before the Apartment

• Professionals want a short commute to the business districts and a metro station nearby. They rent mostly 1+1 and 2+1 flats in districts such as Sisli, Kagithane, Atasehir and Maslak.
• Students look for small, furnished units near a campus, and the year turns on the September intake. See student housing investment in Istanbul.
• Families stay longest. They choose compounds with schools, parking and security in districts such as Basaksehir and Beylikduzu, usually unfurnished.

Each group pays a different rent, stays for a different length of time and needs a different unit, so decide which one you are buying for.

Step 2: Buy the Unit That Lets Fastest

• Size. Smaller units earn more for each dollar invested. In the Global Property Guide sample for Istanbul, one-bedroom flats yielded 8.83% gross and three-bedroom flats 7.70%.
• Transport. A flat a short walk from a metro, Marmaray or metrobus stop is easier to let and to resell.
• Running costs. A high monthly building fee (aidat) makes a flat harder to let, because the tenant usually pays it on top of the rent.
• Paperwork. Buy with a clean title and an occupancy permit (iskan); without one, utility contracts and resale become difficult.
• Purchase price. Yield is rent divided by price. Lower-priced districts return more rent per lira, while prime districts offer easier resale. The district table in the returns article shows the range.

Step 3: Long-Term or Short-Term Letting

Long-term letting is the default for apartments. Under Law No. 7464, in force from 1 January 2024, the Culture and Tourism Ministry must issue a permit before a home is let to tourists for 100 days or less at a time, and in an apartment block the application needs the written agreement of every flat owner. Letting without a permit is fined. Unless the building is designed for holiday use, plan on tenancies of a year or longer; the details are in our guide to short-term rental rules in Turkey.

Step 4: Know the Tenancy Rules

Residential leases come under the Code of Obligations, which favours the tenant. At renewal the rent can go up by no more than the average rise in consumer prices over the previous twelve months, as published by TurkStat; the temporary 25% ceiling ended in July 2024. A deposit may not exceed three months of rent. A landlord cannot end the lease simply because the term has expired, and rent disputes go to mediation before court. Our article on Turkish tenancy law for foreign landlords explains how to write the contract.

Step 5: Budget for Tax on Rental Income

• Rent from a home in Turkey is taxed in Turkey, wherever the owner lives. It is declared once a year, in March, for the previous calendar year.
• For rent earned in 2026, the first TRY 58,000 of residential rent is exempt. Owners with a high total income cannot use the exemption.
• You may deduct either your documented expenses or a flat 15% of the rent after the exemption.
• The remainder is taxed on the 2026 scale, which starts at 15% (up to TRY 190,000) and rises through 20%, 27% and 35% to 40% above TRY 5.3 million.
• Your country of residence may tax the same income; a double taxation treaty, where one exists, decides how the two fit together.

The amounts come from Income Tax General Communique No. 332 and change every year, so ask an accountant to prepare the return.

Step 6: Work Out the Net Figure Before You Buy

Start with twelve months of rent. Deduct one empty month, the fees you will pay while the flat is empty, repairs (allow about half a percent of the price a year), property tax, DASK earthquake insurance, the letting or management fee and income tax. Then divide by the full cost of the purchase, including the 4% title deed fee and furnishing, not by the price alone. On Istanbul averages, the worked example in our returns article arrives at about 5.7% net before income tax against 7.4% gross. Our guide on how to calculate rental yield in Turkey gives the formula.

Step 7: Arrange Management if You Live Abroad

A landlord abroad needs someone to find and check tenants, sign and renew the lease, collect rent, pay building fees and deal with repairs. Our property management in Turkey service covers these tasks, and how to choose a property manager in Turkey lists the questions to ask any firm. If you plan to let furnished, read furnishing an Istanbul apartment for rental.

Risks to Weigh

• Currency. Rent is earned in lira, so a lira that weakens faster than rents rise cuts the income in your own currency.
• Vacancy and non-payment. Tenant protection is strong, and removing a tenant who does not pay takes time.
• Rule changes. The rent ceiling, the short-term letting permit and the tax amounts have all changed in the last three years.
• Building quality. Tenants avoid older buildings that do not meet the earthquake code, and repairs fall on the owner.
• Resale. A unit that lets well is not always easy to sell; check demand from buyers as well as tenants.

Frequently Asked Questions

Is buy-to-let in Turkey worth it for a foreign investor?

It can be, for investors who buy at a fair price in an area with year-round tenants and who accept that income is in lira. Gross yields of about 6% to 8% in the large cities fall by 1.5 to 2 points after costs, and nothing guarantees future rent or price growth.

Which apartments are easiest to let in Istanbul?

Small flats (1+1 and 2+1) close to a metro line, a business district or a university, in buildings with an occupancy permit and moderate fees.

Do foreign landlords pay tax on rent in Turkey?

Yes. Rent from a Turkish property is declared in Turkey each March. For 2026 income, the first TRY 58,000 of residential rent is exempt and the rest is taxed at 15% to 40% after expenses.

Can I let my apartment to tourists?

Only with the permit that Law No. 7464 requires; in an apartment block it depends on the agreement of all the other owners. Most investors therefore choose long-term tenants.

Does a rental property count for a residence permit or citizenship?

A home that reaches USD 200,000 in value can be the basis of a residence permit application, the nationwide minimum since 16 October 2023. Qualifying real estate priced and valued at USD 400,000 or above and held for three years makes the owner eligible to apply for citizenship, subject to legal requirements and official approval. Letting the property is allowed in both cases.

To see current stock, browse our property Turkey listings or go straight to apartments for sale in Istanbul.

Sources: Global Property Guide, gross rental yields in Turkey, first and third quarter of 2026; the September 2026 New Tenant Rent Index of the TCMB; Income Tax General Communique No. 332 (Official Gazette, 31 December 2025); Law No. 7464 on the short-term letting of homes. This article gives general information and is no substitute for legal or tax advice.