Gross rental yields in Turkey: Istanbul and 7 other cities

Average gross rental yields in Turkey stands at 5.44% (Q2, 2023).

  • Istanbul
  • Antalya
  • Izmir
  • Ankara
  • Adana
  • Konya
  • Kayseri
  Last Updated: July 13, 2023
ISTANBUL - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Kadıköy  
1-Bedroom $183,369 $957 6.26%
2-Bedroom $276,383 $957 4.16%
3-Bedroom $393,048 $1,169 3.57%
4+Bedroom $730,819 $2,179 3.58%
Maltepe  
2-Bedroom $140,849 $638 5.44%
3-Bedroom $186,027 $797 5.14%
Esenyurt  
1-Bedroom $60,592 $345 6.83%
2-Bedroom $56,871 $345 7.28%
3-Bedroom $79,673 $505 7.61%
Şişli  
1-Bedroom $146,164 $611 5.02%
2-Bedroom $150,150 $845 6.75%
3-Bedroom $225,890 $1,116 5.93%
Beylikdüzü  
1-Bedroom $69,096 $372 6.46%
2-Bedroom $86,449 $532 7.38%
3-Bedroom $148,821 $718 5.79%
4+Bedroom $225,890 $1,063 5.65%
Sarıyer  
Studio $223,232 $904 4.86%
1-Bedroom $292,328 $1,063 4.36%
2-Bedroom $403,434 $1,329 3.95%
3-Bedroom $597,943 $2,126 4.27%
4+Bedroom $781,312 $2,658 4.08%
Küçükçekmece  
1-Bedroom $93,013 $505 6.52%
2-Bedroom $95,538 $425 5.34%
3-Bedroom $143,506 $571 4.77%
Kağıthane  
1-Bedroom $124,904 $771 7.41%
2-Bedroom $116,931 $691 7.09%
3-Bedroom $186,027 $797 5.14%
Istanbul avg. Rental Yields 5.58%
ANKARA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Çankaya  
1-Bedroom $93,013 $292 3.77%
2-Bedroom $94,342 $452 5.75%
3-Bedroom $111,616 $452 4.86%
4+Bedroom $224,561 $797 4.26%
Keçiören  
2-Bedroom $43,530 $274 7.55%
3-Bedroom $66,438 $239 4.32%
4+Bedroom $119,589 $332 3.33%
Mamak  
1-Bedroom $22,057 $98 5.33%
2-Bedroom $39,863 $213 6.41%
3-Bedroom $61,123 $239 4.69%
4+Bedroom $93,014 $298 3.84%
Etimesgut  
1-Bedroom $71,222 $332 5.59%
2-Bedroom $53,151 $266 6.01%
3-Bedroom $74,145 $292 4.73%
4+Bedroom $156,794 $518 3.96%
Sincan  
2-Bedroom $39,863 $239 7.19%
3-Bedroom $53,097 $213 4.81%
Yenimahalle  
2-Bedroom $77,201 $292 4.54%
3-Bedroom $98,328 $345 4.21%
4+Bedroom $160,780 $532 3.97%
Altındağ  
2-Bedroom $38,401 $140 4.37%
3-Bedroom $60,857 $239 4.71%
Ankara avg. Rental Yields 4.92%
ANTALYA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Kepez  
1-Bedroom $69,096 $525 9.12%
2-Bedroom $85,041 $532 7.51%
3-Bedroom $116,931 $638 6.55%
Muratpaşa  
1-Bedroom $100,986 $691 8.21%
2-Bedroom $124,904 $797 7.66%
3-Bedroom $170,082 $917 6.47%
4+Bedroom $239,177 $1,595 8.00%
Alanya  
1-Bedroom $132,876 $703 6.35%
2-Bedroom $184,432 $771 5.02%
3-Bedroom $246,379 $902 4.39%
4+Bedroom $310,479 $1,036 4.00%
Konyaaltı  
1-Bedroom $135,534 $718 6.36%
2-Bedroom $186,027 $1,010 6.52%
3-Bedroom $265,753 $1,090 4.92%
4+Bedroom $398,629 $1,595 4.80%
Finike  
2-Bedroom $100,986 $319 3.79%
3-Bedroom $124,904 $452 4.34%
Antalya avg. Rental Yields 6.12%
IZMIR - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Karşıyaka  
1-Bedroom $95,671 $532 6.67%
2-Bedroom $121,715 $558 5.50%
3-Bedroom $159,452 $585 4.40%
Konak  
2-Bedroom $86,370 $425 5.90%
3-Bedroom $119,589 $625 6.27%
Karabağlar  
2-Bedroom $77,733 $319 4.92%
3-Bedroom $106,301 $425 4.80%
Buca  
1-Bedroom $59,529 $279 5.62%
2-Bedroom $74,411 $319 5.14%
3-Bedroom $95,671 $372 4.67%
Bornova  
1-Bedroom $93,013 $532 6.86%
2-Bedroom $103,643 $438 5.07%
3-Bedroom $127,561 $452 4.25%
Izmir avg. Rental Yields 5.39%
ADANA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Çukurova  
1-Bedroom $52,566 $252 5.75%
2-Bedroom $78,556 $399 6.10%
3-Bedroom $103,643 $501 5.80%
4+Bedroom $152,808 $671 5.27%
Seyhan  
1-Bedroom $61,123 $226 4.44%
2-Bedroom $71,753 $372 6.22%
3-Bedroom $90,356 $558 7.41%
4+Bedroom $146,164 $691 5.67%
Adana avg. Rental Yields 5.83%
KONYA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Konya (all locations)  
1-Bedroom $39,863 $239 7.19%
2-Bedroom $53,151 $239 5.40%
3-Bedroom $77,068 $266 4.14%
4+Bedroom $124,904 $372 3.57%
Konya avg. Rental Yields 5.08%
BURSA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Bursa (all locations)  
1-Bedroom $45,178 $292 7.76%
2-Bedroom $61,655 $286 5.57%
3-Bedroom $100,986 $399 4.74%
4+Bedroom $140,849 $684 5.83%
Bursa avg. Rental Yields 5.97%
KAYSERI - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Kayseri (all locations)  
2-Bedroom $41,192 $247 7.20%
3-Bedroom $61,123 $213 4.18%
4+Bedroom $104,653 $319 3.66%
Kayseri avg. Rental Yields 5.01%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and Emlakjet

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of Turkey. We utilized the local website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).