Rental Yields in Turkey by City: What Investors Can Expect (2026)
How rents, prices and payback periods compare across Istanbul, Ankara, İzmir, Antalya and other Turkish cities, with the latest Endeksa and TCMB data and what gross yields mean in practice.
Rental yield is one of the first numbers investors look at, and in Turkey it varies widely from city to city. A home that pays back its price in around 12 years in one province can take close to 20 years in another. This guide compares rents, prices and payback periods across Turkey's main property markets using the latest published data, and explains what the figures mean for international investors.
Last updated: November 2026. Figures are in Turkish lira, as published by the sources. Yields shown here are gross figures before costs and taxes.
Average Rents by City
The table shows average monthly rents for homes in August 2026, together with average sale prices from the same report.
| Province | Average monthly rent (TL) | Average home sale price (TL) | Approximate gross yield* |
|---|---|---|---|
| Istanbul | 45,510 | 7,359,550 | 7.4% |
| Ankara | 34,440 | 5,132,140 | 8.1% |
| İzmir | 33,369 | 6,574,320 | 6.1% |
| Antalya | 29,306 | 6,132,170 | 5.7% |
| Bursa | 24,207 | 4,737,460 | 6.1% |
| Muğla | 40,940 | – | – |
| Turkey average | 28,040 | 5,311,000 | 6.3% |
Source: Emlakjet and Endeksa rent and housing value reports, August 2026. *Gross yield = annual average rent ÷ average sale price, calculated by Bigist Invest. Average rents and average sale prices do not describe exactly the same homes, so treat these as indicative ranges, not precise returns.
Payback Periods: How Many Years of Rent Repay the Price?
Another way to read the same data is the payback period, also called the amortisation period: the number of years of gross rent needed to equal the purchase price. Endeksa's May 2026 data put the national average at 13 years. Among the 30 provinces with the highest sales, it reported:
- Ankara: 12 years
- Istanbul: 13 years
- Antalya: 17 years
- Aydın: 17 years
- Muğla: 19 years
The shorter the payback period, the higher the gross yield. The pattern is consistent: large cities with year-round tenant demand pay back faster than coastal resort provinces, where prices are high and many homes are rented only in the season.
Rents Are Rising Faster Than Prices
The Central Bank of the Republic of Türkiye (TCMB) publishes a New Tenant Rent Index, which tracks rents on newly signed leases. In September 2026 it showed:
| Area | Annual rent increase (new tenants) | Annual house price increase |
|---|---|---|
| Turkey | +26.6% | +22.3% |
| Istanbul | +35.5% | +26.8% |
| Ankara | +25.1% | +22.0% |
| İzmir | +23.7% | +21.0% |
Source: TCMB New Tenant Rent Index and Residential Property Price Index, September 2026.
When rents grow faster than prices, yields on new purchases improve. This has been most visible in Istanbul over the past year. Both series are nominal lira figures; adjusted for inflation, national rents fell by 2.4% and house prices by 5.7% over the same period. For a foreign investor, the return in their own currency also depends on how the lira moves.
What the Numbers Mean City by City
Istanbul
Istanbul combines a large tenant base, strong demand from professionals and students, and the highest rents in the country. Yields differ sharply between districts: business areas and districts on metro lines tend to rent quickly, while prime Bosphorus locations have lower yields because prices are so high. See our guides to buying property near metro stations and student housing investment in Istanbul.
Ankara
The capital shows the shortest payback period among the large provinces. Prices are lower than in Istanbul, while rents are supported by civil servants, students and families. Demand from international buyers is limited, which matters if you plan to sell to a foreign buyer later.
İzmir and Bursa
Both cities have mainly domestic demand and gross yields close to the national average. They suit investors who know the local market or plan to live there part of the year.
Antalya and Muğla
Coastal provinces have the longest payback periods. Prices are pushed up by holiday-home and lifestyle buyers, and long-term rents do not keep pace. Short-term holiday rentals can earn more in the season, but they require a permit and face more costs and empty weeks. Read our guide to short-term rental rules in Turkey.
From Gross Yield to Real Income
Gross yield is only a starting point. Your net return will be lower after:
- Monthly maintenance fees (aidat), especially in complexes with pools and gyms. See aidat and site management explained.
- Income tax on rent, annual property tax and compulsory earthquake insurance.
- Furnishing, repairs and property management if you live abroad.
- Empty periods between tenants.
- Purchase costs such as title deed fees, which should be included when you calculate the return on your total investment.
Our step-by-step guide on how to calculate rental yield in Turkey shows how to move from a gross figure to a net one, and our overview of annual costs of owning property in Turkey lists the recurring expenses.
How to Use These Figures
- Use city averages to shortlist locations, not to price a specific flat.
- Ask for actual rents of similar homes in the same building or street.
- Calculate net yield on the full purchase cost, not just the price.
- Consider resale demand as well as income. A slightly lower yield in a liquid market can be the better long-term choice.
To see how purchase prices compare across Turkey, read property prices in Turkey by city.
Frequently Asked Questions
What is the average rental yield in Turkey?
Based on August 2026 averages for rents and sale prices, gross yields are roughly 6% to 8% in the main cities. Endeksa put the national payback period at 13 years in May 2026, which corresponds to a gross yield of around 7.7%.
Which Turkish city has the highest rental yield?
Among the largest markets, Ankara had the shortest payback period (12 years), followed by Istanbul (13 years). Coastal provinces such as Antalya and Muğla had the longest.
Are rents rising in Istanbul?
Yes. TCMB data show rents for new tenants in Istanbul rose by 35.5% in the year to September 2026, faster than house prices.
Is gross yield the same as profit?
No. Gross yield ignores costs, taxes and empty periods. Net yield is usually noticeably lower.
Find a Property With Rental Potential
Start with our guide to the Turkish property market, browse properties available in Turkey or ask our team for rental estimates on specific projects.