How to Calculate Rental Yield: Gross, Net and the CBRT Rent Data for Hatay
10/28/2026 · 6 min read
Anyone thinking of buying a flat in Hatay to rent out usually starts with one question: what share of the price will it earn back in rent each year? This article explains step by step how rental yield is calculated, sets out the formula our rental yield calculator uses, and reports the official rent and house price changes for the region that includes Hatay from the Central Bank of the Republic of Türkiye (CBRT) September 2026 bulletin. It was prepared on 28 October 2026.
Gross and Net Rental Yield: The Formula
Gross rental yield is annual rent divided by the purchase price: monthly rent × 12 ÷ purchase price × 100. It is handy for quick comparisons, but it ignores the months the property stands empty and the costs the owner pays. Net rental yield deducts both: (monthly rent × months let − annual costs) ÷ purchase price × 100. The payback period is the purchase price divided by annual net rental income. Our rental yield calculator uses exactly these three formulas and, using the annual rent increase you enter, also estimates total net income over five years.
Costs you may add to the annual figure: service charges (if paid by the owner), property tax, compulsory earthquake insurance (DASK) and home insurance premiums, maintenance and repairs, agency commission and tax on rental income.
Vacancy: the number of months with no rent because of a change of tenant, renovation or time on the market.
Adding one-off costs such as title deed fees, valuation and renovation to the purchase price gives a more realistic yield.
Worked example
The figures below only illustrate the formula and do not represent actual prices or rents in Hatay. For a flat priced at TRY 3,000,000, let for TRY 15,000 a month, with annual costs of TRY 18,000 and an assumed vacancy of one month a year, gross yield is 180,000 ÷ 3,000,000 = 6.00%. On a net basis, 11 months of rent (TRY 165,000) minus TRY 18,000 of costs leaves TRY 147,000: a net yield of 4.90% and a payback period of about 20.4 years. A single month of vacancy and reasonable costs can open a gap of more than one percentage point between gross and net.
Rents and Prices in the Hatay Region per CBRT Data (September 2026)
According to the CBRT's September 2026 bulletin, the House Price Index (KFE) for the TR63 region, which covers Hatay, Kahramanmaraş and Osmaniye, rose 24.0% on the same month a year earlier, the third-highest increase among regions. The New Tenant Rent Index (YKKE) for the same region rose 28.3% year on year. For Türkiye as a whole, the house price index rose 22.3% in nominal terms but fell 5.7% in real (CPI-adjusted) terms; the rent index rose 26.6% nominally and fell 2.4% in real terms. Month on month, the national price index rose 1.2% and the rent index 2.1%.
(Interpretation) In TR63, new-tenant rents have risen faster than house prices over the past year. If that continues, the ratio of rent to price on new leases, in other words gross yield, may be slightly higher than a year ago. But the indices measure change, not levels: they cannot tell you what yield a particular flat in Hatay earns. The data table below shows the previous month's (August 2026) bulletin so you can compare the direction between the two months.
Limits of These Data
TR63 is not a single province; Hatay, Kahramanmaraş and Osmaniye are published together. There is no index at district or neighbourhood level.
According to the CBRT's metadata, the indices use values from valuation reports prepared for mortgage applications, not actual sale prices or contract rents. A completed sale or loan drawdown is not required.
The indices are adjusted for the quality effect of observable housing characteristics using hedonic regression; they do not track any individual property.
The rent index covers new tenants only and does not reflect increases on existing leases.
First results appear about 15 days after the end of the month, and the CBRT revised its method in 2024. Figures may be updated in later bulletins.
This article is not investment advice and makes no promise of returns. Tax on rental income, exemption thresholds and lease rules can change, so confirm them with the Revenue Administration and the relevant authorities, and take current index values directly from the CBRT page; official pages may be updated over time.
CBRT, House Price Index and New Tenant Rent Index, September 2026 bulletin (Data Management and Statistics General Directorate), accessed 28 Oct 2026.
CBRT, House Price Index Metadata, accessed 28 Oct 2026.
CBRT, Implementation Changes to the House Price Indices, accessed 28 Oct 2026.
Invest Hatay rental yield calculator: gross, net and payback formulas (on-site calculation).
From the official data
House Price and Rent Index: The Hatay Region
According to the CBRT's August 2026 bulletin, in the TR63 region covering Hatay, Kahramanmaraş and Osmaniye the house price index rose 22.1% in nominal terms on the same month a year earlier (Türkiye: 23.0%). The new-tenant rent index rose 26.4% in the same region (Türkiye: 26.4%).
Indicator
Value
Year
Source
House price index, annual nominal change: TR63 (Hatay, K.Maraş, Osmaniye)
The TR63 region's house price rise (22.1%) is 0.9 points below the national average and mid-table among the 20 regions (lowest 13.0%, highest 27.0%). Prices around Hatay are therefore rising more slowly than in metropolises such as İstanbul (26.3%). The rent index rose 26.4%, 4.3 points more than the price index, which may point to a rising rent-to-price ratio (interpretation, since indices show change, not level).
Nationally, the price rise corresponds to a 6.5% real decline: the nominal rise stayed below inflation. The bulletin gives no regional real change for TR63, but since its nominal rise (22.1%) is below the national one, the real loss there may be larger (interpretation). What it means for an investor: a plan that treats housing as a store of value should look at this indicator together with rental yield; a nominal rise alone is not evidence of return.
Limitation: The indices refer to the Hatay–Kahramanmaraş–Osmaniye region (TR63), not to Hatay alone; no Hatay-only value is published. The indices (2023=100) give neither a price per m² nor a rent amount, only change. By the CBRT's method, house values come from valuation reports prepared for loan applications (a completed sale is not required) and quality effects are removed by hedonic regression. The bulletin address is updated each month; the August 2026 issue is used here.
