With a tourism rental permit, an Antalya flat bought for about €113,000 can net about 4.0% a year before income tax, 3.1% if you take July. Prime Bodrum earns about 2.6%. The permit, tracker data and the lira.
In brief. In Turkey the "let eleven months, live one" model works only if the flat has a tourism rental permit, and permits are hard to get in a building with several owners. If it has one, an Antalya flat bought for about €113,000 can earn about 4.0% net a year before income tax on our illustrative assumptions; taking July for yourself cuts that to about 3.1%, taking February to about 3.9%. Prime Bodrum earns far less per euro invested. All figures are our arithmetic as of October 2026, not market data.
Turkey is where many people already holiday, and prices look low in euros. But the economics differ from Cyprus or Spain for three reasons: holiday lets need a permit with a strong obstacle in apartment buildings, tracker occupancy is low and varies widely, and rents and prices are in lira. This article works through the numbers for an owner who lets the home eleven months and lives in it one, which month to take, and what to check before buying. It builds on our overview of the model and the owner-month calculation. This is not tax or legal advice.
Seasonality: what the data show and what they do not
Antalya received about 17.1 million visitors in 2025 according to the Culture and Tourism Minister, or 17.57 million according to another report; sources differ. By air, January 2026 brought only 234,037 visitors, which shows how quiet midwinter is. We did not find a month-by-month profile for the other months, so the split we use is our assessment: high season June to September, shoulder season April, May, October and November, low season December to March. For Bodrum and Alanya the season is, if anything, shorter. Treat the split as an assumption, not a statistic.
The permit comes first
Under Law No. 7464, in force since 1 January 2024, any rental of a residence for tourism, defined as a single rental period of 100 days or less, needs a permit from the Ministry of Culture and Tourism. If the flat is a unit in a multi-owner building, the application needs a decision of all unit owners taken unanimously, so one objecting neighbour can block it. The fine for renting without a permit starts at TRY 100,000 per unit and escalates on repeat violations; one law firm reports a 2026 base of about TRY 180,000, so confirm the current figure. Platforms must show the permit number and remove unpermitted listings. Details are in our Turkey short-term rental rules. The practical consequences for this model:
- Buy only a flat that already has a permit that transfers to you, or a detached villa or a single-owner complex where unanimity is not an issue
- A flat bought on the hope that the permit will come can be impossible to license
- As we read the rule, a lease longer than 100 days is not a tourism rental and needs no permit; a winter or multi-month let can then be a fallback. Confirm this reading with a Turkish lawyer
Where the money is made: three example flats
Prices come from our Turkey prices and buying costs article at about 54 lira to the euro.
- About €62,000, a one-bedroom flat of about 55 m² in Alanya. Alanya listings averaged about 60,700 lira per m² in August 2026, roughly €1,100
- About €113,000, an average Antalya flat. The August 2026 average sale price was about 6.1 million lira. Our yield article shows gross long-term yields of about 7.6% to 8.0% for one-bedrooms in Kepez and Muratpaşa and about 6.3% in Konyaaltı
- About €325,000, a 70 m² flat in prime Bodrum. A June 2026 valuation report put Bodrum at about 250,000 to 300,000 lira per m², roughly €4,600 to €5,600; the example uses the lower end
For districts see best areas to buy in Turkey and what you can buy for €70,000-350,000.
What holiday-let trackers say, and why we use low occupancy
The trackers disagree widely. For Antalya, AirDNA shows 55% occupancy and a $162 daily rate, while AirROI shows 31.8% and $128. For Bodrum, AirROI shows 29.2% and $286, AirDNA about $235, and BnbCalc only 19%. For Alanya, BnbCalc shows 23% and AirROI about $103 a night. Our yield article adds that all-listings occupancy averaged about 29% in Antalya and 30% in Istanbul over the twelve months to mid-2026, and the number of active listings fell by about 45% in Antalya and 50% in Istanbul. These are aggregator figures, not official statistics, and a professionally managed, permitted unit does better than the average. We therefore assume managed units: 65%, 40% and 15% occupancy in Antalya.
The model: eleven months against twelve
Assumptions for the Antalya flat at €113,000 (all illustrative, priced in euros): daily rate €70 in high season, €48 in shoulder season, €30 in low season; occupancy 65%, 40% and 15%. That is about 146 booked nights a year, 40% occupancy, and about €8,440 revenue. Variable costs are 28% of revenue: management 20%, platform and payment fees 3%, a reserve for wear and replacement 5%. Fixed costs are €1,550 a year for utilities, building fees, insurance and property tax. Cleaning and linen are assumed paid by guests. Income tax and the exchange rate are left out.
- Revenue, twelve months: about €8,440
- Net before income tax: about €4,525, which is 4.00% of the price
- Owner month in July: you give up about €1,410 of revenue, about €1,020 of net. Net falls to about €3,510, or 3.11%
- Owner month in May or October: lost net about €430. Net about €4,100, or 3.63%
- Owner month in February: lost net about €90. Net about €4,435, or 3.92%
The other two flats. Alanya at €62,000 (daily rates €45, €32, €22; occupancy 60%, 35%, 12%; fixed costs €1,100) nets about €2,485 or 4.01% over twelve months and about €1,885 or 3.04% if you take July. Bodrum at €325,000 (daily rates €190, €110, €70; occupancy 55%, 25%, 5%; fixed costs €3,500) nets about €8,400 or 2.58% and about €6,065 or 1.87% if you take July. The Bodrum flat is a lifestyle purchase: you pay for the address, not for the income.
Three lessons. First, a winter month costs almost nothing in lost income, about €90 in the Antalya example, so an off-season stay is nearly free; in July it costs about eleven times that. Second, the yield is modest even before the exchange rate and income tax: the euro cost about 48.7 lira at the end of October 2025 and about 53.8 in mid-July 2026, and prices fell about 6% in real terms in the year to August 2026 in our prices article. If your income is in lira, it loses roughly a tenth in euros within a year; the model avoids this only by assuming euro pricing to holidaymakers, which is our assumption. Third, compare it with a long-term let: our yield article shows about 4% to 5% net in lira for a long-term let in a big city, and a long-term tenant needs no permit.
Tax in brief
Permit holders pay Turkish income tax on the rent, and VAT may apply depending on how the activity is structured. For a home let to a tenant, our yield article describes a 47,000 lira exemption for income earned in 2025, a 15% lump-sum expense deduction and a progressive scale of 15% to 40%; whether these apply to short-term letting and how your own month is treated we did not find. Treat the figures above as before tax and ask a Turkish accountant; see how personal-use days and rent are taxed. Later sale: Turkey capital gains tax on sale.
What buying costs
The title-deed tax is 4% of the declared value; by law it is split between buyer and seller, but in practice the buyer often pays all of it. On €113,000 that is about €4,520. Add the valuation report, earthquake insurance, translation and notary fees, and any agent commission, and VAT of 1%, 10% or 20% on a new build depending on size and location. Foreigners cannot buy in military or security zones. Before you commit, read new build or resale in Turkey, mortgages for foreigners, investment risks and the resale checklist. Treat promised returns carefully: guaranteed rental schemes: the catch.
Managing it from abroad
You need a manager who holds the permit paperwork, blocks your month, cleans and handles keys; fees of 15% to 25% of revenue are common in holiday markets. See running a holiday home from abroad and the licences, building rules and insurance guide.
Mistakes to avoid
- Buying a flat without a transferable permit
- Assuming the neighbours will consent
- Using a tracker's best occupancy figure as your forecast
- Counting lira income as if it were euros
- Taking July for yourself without pricing it
- Paying a deposit before checking the title, the permit, the management plan and the military-zone status
Checklist before you buy
- Does the unit hold a tourism rental permit, and can it be transferred to you?
- If not, do all owners in the building consent, in writing?
- What do the building's management plan and fees say about short lets?
- Which month will you take, and what does it cost on your own numbers?
- Is the unit in a district where foreign registration is restricted or in a military zone?
- What does the manager charge, and does the contract block your month?
- Which tax applies to the rent in Turkey and in your own country?
FAQ
Can I let a Turkish flat on Airbnb for eleven months a year? Only with a tourism rental permit for lets of 100 days or less, and in a multi-owner building that needs the consent of all owners. Without it you risk a fine and delisting.
Which month should I take? A winter month costs far less than a summer one: about €90 of net in February against about €1,020 in July in the Antalya example.
Is Bodrum worth it for income? On our assumptions net yield is about 2.6%, so it is mainly a lifestyle purchase.
What about the lira? Rents and prices are in lira and the lira weakened against the euro over the past year. Our model assumes you price to holidaymakers in euros; check how your manager does it.
Is a long-term let simpler? Yes: a lease longer than 100 days needs no tourism permit as we read the rule, but you cannot then use the flat. Confirm with a Turkish lawyer.
This article is informational only and is not legal, tax or investment advice. All income figures are illustrative arithmetic on stated assumptions; confirm current rules and numbers with local professionals before you buy.