Investment
Rental yields in Córdoba: real numbers by neighbourhood
Gross vs net without tricks, a real step-by-step example in Fátima, a 2026 table by area and the 5 costs almost nobody includes. Decide with numbers, not headlines.
Quick answer: in 2026 a Córdoba apartment earns between 4.5% and 8.5% gross on long-term rentals depending on the area, and between 7% and 10% on well-managed tourist lets. Net yield typically lands 1.5-2.5 points below gross once every cost is counted.
Key takeaways
- Gross is for comparing; decisions are made on net.
- Real Fátima example: €142,000 total investment, €850/month rent → 7.2% gross, ~5.8% net.
- The 5 costs almost nobody includes: transfer tax, vacancies, maintenance, default insurance, management.
- Tourist lets earn more, with more work and licence dependency.
- Numbers based on deals we source and manage in Córdoba, not national averages.
How to calculate yield (without fooling yourself)
Gross yield = annual rent ÷ total purchase cost × 100. "Total cost" means EVERYTHING: price + taxes + notary + renovation. Calculating on the price alone inflates the result by more than a point.
Net yield = (annual rent − annual costs) ÷ total cost × 100. That is what you actually pocket.
Real step-by-step example: 3-bedroom in Fátima
| Item | Amount |
|---|---|
| Purchase price | €95,000 |
| Transfer tax (7%) + notary | €12,000 |
| Full renovation | €35,000 |
| Total investment | €142,000 |
| Monthly rent | €850 |
| Annual rent | €10,200 |
| GROSS yield | 7.2% |
| Property tax + community + insurance + maintenance + vacancies | ≈ €1,900/yr |
| NET yield | ≈ 5.8% |
What does each area yield in 2026?
| Area | Indicative gross (long-term) |
|---|---|
| Fátima / Valdeolleros | 7 - 8.5% |
| Santa Rosa / Levante / Fuensanta | 6.5 - 7.5% |
| Ciudad Jardín | 5.5 - 6.5% |
| Centre / historic quarter | 5 - 6% |
| Vial Norte / Arroyo del Moro | 4.5 - 5.5% |
Well-managed tourist rentals in the historic quarter (La Magdalena, San Lorenzo, Judería) beat these numbers: 7 to 10% gross. We see it monthly in the apartments we manage — and we also see what it takes: dynamic pricing, spotless cleaning and instant guest responses. If that route appeals to you, start with the VUT licence.
The 5 costs almost nobody counts (and they change the result)
- 7% transfer tax in Andalusia plus notary and registry: adds 8-12% to the price.
- Vacancies: even with Córdoba's low vacancy, budget at least half a month per year.
- Maintenance: 0.5-1% of the apartment's value per year.
- Rent default insurance: ~3% of annual rent. Highly recommended.
- Management: a monthly percentage if you delegate — usually offset by fewer vacancies and better rent updates.
Long-term or tourist: which suits me?
- Long-term if you want stability, an area outside the centre, or zero daily involvement.
- Tourist if the apartment sits in a demand zone, the community allows it and you want maximum income accepting more operations (or delegating them).
A middle path we use with investors: buying a tourist apartment already in operation, with licence, reviews and provable income. Several are in our catalogue right now.
Frequently asked questions
What is a "good" yield in Córdoba in 2026? Above 6.5% gross on long-term is already a good deal; above 8% on managed tourist lets, likewise. Distrust higher promises without a cost breakdown.
Are yields guaranteed? No — anyone guaranteeing them is selling you something else. They are estimates with real market rents and all costs, delivered in writing in every proposal we make.
How does financing affect yield? A mortgage leverages: with 60-70% financed, return on your own capital can exceed 10-12% on a good deal — while amplifying risk too. Ask for both scenarios calculated.
Analysis updated June 2026 by the Tu Inmobiliaria Córdoba team with data from our own operations. Want your case calculated? Request a proposal.