The demand for Turkish real estate is growing every year. And most owners of apartments today live at the expense of tenants. We tell you how to earn an income from your own home in Turkey in 2024

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Turkey is a beautiful country with a good climate, warm sea, beautiful sights and rich history. Millions of foreign nationals who visit Turkey every year require accommodation for their stay in the country. 

The increase in tourists and emigrants seeking more comfortable living conditions creates a demand for Turkish apartment rentals. This in turn creates a good opportunity for property owners to earn on their apartments and receive a stable income. 

What are the options for earning on your own real estate in Turkey in 2024 - read further in the article.

Earnings on real estate in Turkey

Real estate in Turkey - an excellent investment that brings the owners a good income. Most foreign investors buying real estate in Turkey enjoy the opportunity to double their capital.

Make a profit from real estate can be several ways: rent out the apartment, or profitably resell it after a while.

Renting out apartments allows you to earn especially good money in the tourist season - from May to October.

There are 2 types of rent:

- short-term - from 2 weeks to six months 

- long-term - for a period of six months or more. This option is popular among those who live or work in Turkey.

Short-term rentals

In Turkey, short-term rentals are most often seasonal.

Owners rent housing for a short period of time, when they do not live in it temporarily. And during the tourist season they receive income from renting apartments.

To rent an apartment to tourists, the owner needs to furnish it. And also provide all the necessary household items: towels, dishes, linens.

Despite the fact that the utilities are paid by the tenant himself, do not forget about aydat - a monthly fee for the maintenance of the complex, which is paid by the owner of the apartment. 

Important! From January 1, 2024 in Turkey came into force a law regulating the lease of real estate in short-term rentals. According to it, only those who have a license to carry out this activity can rent real estate for a short period of time. 

For short-term rentals, it is necessary to register all tenants in the state system, access to which is allowed only to legal entities. 

In such a situation, most apartment owners turn to a real estate agency. The agency's staff takes care of all the work of placing and evicting tenants, as well as their official registration. 

To conduct the rental legally, the agency needs to obtain a password from the police, register with the tax office, and file monthly reports, even if there were no tenants in a given month. 

Each new tenant also needs to be registered with the police using this password. When a tenant moves out, an invoice must be issued and taxes and VAT on the rent must be paid.

When renting an apartment through an agency, the income from short-term rentals in Turkey is 8-10% per annum. 

In most cases, apartments are rented out almost all season and the total annual profit exceeds even the profit from long-term rentals.

Long-term rental

The law in force since 2024 does not mean that foreign owners of Turkish real estate can not earn on their apartments.

The legal way to make a profit from the property is to rent it out for a long period of time. 

Renting out apartments for a long period of time is preferred by owners who do not want to constantly prepare housing for new tenants, or if their property is located in large business centers.

It is possible to rent an empty apartment (without furniture and appliances), as most tenants bring their own furniture and install their own appliances. The tenant is also obliged to pay for utilities. 

The advantage of this type of rent is - a constant monthly income, no need to furnish the apartment and the risk of damage to property.  

The minus can be called - low rent, and also the lack of opportunity to live and use the apartment.

Earnings on real estate in Turkey from long-term rent is 6-8% per annum. 

Moreover, to rent apartments for a long period of time the owner has the right to independently on the basis of a signed contract with a notary. 

On the basis of this agreement, the tenant can issue a residence permit, indicating the address of the rented apartment. 

The use of debt receipts (sennets) is also common in Turkey. Before moving in, the tenant gives the landlord receipts for each month's rent. 

When payment for the month is received, the owner returns one sennet to the tenant. This method helps the owner protect himself from possible non-payment, as the promissory note can be used in lawsuits.

Profitable resale of apartments 

Another option for making money from your own real estate is reselling apartments.   

Most investors choose to buy an apartment at the initial stage of construction, with the opportunity to resell the finished apartment later.  

Buying apartments at the initial stage of construction, you can count on the most favorable prices. In addition, you can initially choose the best floor, layout, window view of your own future home.   

If you do not want to wait for the end of construction - you can buy an apartment in a ready real estate object.  

In this case, you can also take advantage of the investment program of Turkey, which allows you to obtain citizenship in exchange for certain investments in real estate.

Interested parties can invest from $400,000 in business class apartments, which meets the requirements of the program to obtain a Turkish passport. During the waiting period before selling the property, it is also possible to earn a steady rental income.

Purchasing real estate to earn money on the rental business, it is extremely important to focus on the location of the object. 

Guaranteed demand for rental housing is primarily in the center of Antalya. 

The central areas of the city provide access to all key facilities and are a symbol of prestige and status. As a result, central real estate is an attractive and stable investment with high yield potential.

Good offers of apartments in the heart of Antalya :