Türkiye's short-term rental market has moved from a loosely regulated space to a licensed, permit-based system. For Saudi investors who have historically favored well-located apartments in Istanbul, Antalya, and Bodrum with the intention of renting them out on platforms such as Airbnb, this shift changes the underwriting math and requires a more disciplined approach to acquisition.
What Changed and Why It Matters
In late 2023, Türkiye introduced Law No. 7464, which brought daily and short-term residential rentals under a formal licensing regime administered through provincial governorates. Owners who want to let a unit for periods shorter than 100 days now need a permit tied to the specific unit, evidence of building consent (in practice, sign-off from other apartment owners in the same building under the Condominium Law), and compliance with fire safety and occupancy standards. Operating without this permit exposes the owner to significant administrative fines and, on repeat violations, closure of the unit for rental purposes.
For Saudi buyers accustomed to more informal short-term letting markets, this is a material change. A property that looks attractive on a gross yield basis may not be legally rentable on a nightly basis unless the building's other owners consent, which in practice can be difficult to secure in mixed-use buildings with a majority of long-term resident owners.
Building Consent : This is the single biggest practical obstacle. Under Turkish condominium law, short-term rental in an apartment building generally requires unanimous or near-unanimous consent from the building's owner assembly, recorded in the building's decision book. New-build developments marketed specifically for the short-term rental market often pre-arrange this consent as part of the building's founding regulations, which makes purpose-built projects meaningfully more secure than older, mixed-occupancy stock for investors planning to operate on Airbnb-style platforms.
Practical Implications for Acquisition Strategy
Saudi investors evaluating Türkiye's rental market should treat short-term rental legality as a due diligence item, not an assumption. Before committing to a unit with a short-term rental business plan, we recommend verifying three things: whether the building's management plan (yönetim planı) explicitly permits short-term letting, whether the building already holds or is eligible for the governorate permit, and whether the unit meets baseline fire and safety documentation requirements.
City-Level Variation : Enforcement intensity differs by location. Istanbul districts with high tourist density and Antalya's coastal zones have seen more active enforcement than smaller secondary cities, partly because local authorities in high-demand tourist areas face more pressure from long-term resident complaints about noise and turnover. Investors targeting Antalya, Bodrum, or central Istanbul neighborhoods such as Beyoğlu and Şişli should budget extra time and legal support for the permit process and factor a realistic timeline, often several weeks to a few months, into their return projections.
Alternative Structures Worth Considering
Given the added compliance layer, some Saudi investors are shifting toward mid-term rental strategies, typically 30 to 100 day stays, which fall outside the strictest short-term rental licensing triggers while still capturing higher yields than standard one-year leases. Others are partnering with professional operators who already hold building-level permits across a portfolio of units, reducing the individual owner's administrative burden.
Purpose-built branded residences and serviced apartment concepts, increasingly common in Istanbul and along the Aegean and Mediterranean coasts, are also worth evaluating. These typically bundle the operating license, building consent, and professional management into the acquisition itself, which removes much of the regulatory uncertainty that applies to standalone resale apartments.
Our Recommendation
For Saudi capital entering the Turkish short-term rental space, the priority should be legal clarity before yield optimization. A unit with a slightly lower headline return but a clean, verified rental license is a more durable asset than one with higher advertised yield and an uncertain permit status. Engaging local counsel and a property advisor early in the acquisition process, specifically to confirm building-level consent and permit eligibility, is now a standard and necessary step rather than an optional precaution in Türkiye's real estate market.