Free tool · 13 markets

Compare European holiday-home markets

Yield without regulation is a brochure. Toggle two to four countries — you see the orientation bands Terrivio publishes on each market guide: net yield, acquisition %, STR snapshot, tax snapshot, tourist tax. Then open the city checker before you treat a country average as a street.

Markets

CountryNet yieldAcquisitionSTRTaxTourist tax
🇪🇸 Spain2.5–5%≈12%A regional tourist licence (VUT/HUT) plus the national single registry number (mandatory since July 2025) are required. Barcelona is phasing out tourist flats by 2028; the Balearics and parts of Andalusia restrict new licences.Non-resident EU/EEA owners pay 19% on net rental income (costs deductible); non-EU owners 24% on gross. Annual IBI property tax and Plusvalía on resale apply.Catalonia & Balearics: ~€2–7 per night
🇵🇹 Portugal3–5%≈8%An Alojamento Local (AL) registration is mandatory. The 2023 national freeze was reversed in 2024–2025; municipalities now set their own containment zones — Lisbon and Porto restrict new ALs in central parishes.Under the simplified regime, AL income is taxed on 35% of gross revenue (50% in containment zones); non-residents pay a flat 25%. Annual IMI property tax is 0.3–0.45% of the tax value.Lisbon €4 · Porto €3 per night
🇫🇷 France1.5–4%≈8%Every meublé de tourisme needs a registration number. Primary residences may be let 120 nights a year (mayors can cut this to 90); secondary homes in Paris and many large cities require a change-of-use permit, often with compensation.Rental income falls under micro-BIC (30% allowance for unclassified rentals, capped at €15,000; 50% for classified) or the réel regime with depreciation (LMNP). Social charges of 17.2% apply on top of income tax for non-residents.€0.65–15 per night + 10–25% departmental surcharge
🇮🇹 Italy2–4.5%≈10%Every short-term rental must display a national CIN code (mandatory since 2025) and meet fire-safety rules. Florence has banned new STRs in its historic centre, Venice caps nights, and Rome and Milan require SCIA notification.Rental income can be taxed at the flat cedolare secca of 21% (26% from the second STR property onwards, up to four units) instead of progressive IRPEF. IMU is due yearly on second homes.€1–10 per night depending on the comune
🇳🇱 Netherlands2.5–4%≈9.5%Amsterdam allows whole-home holiday letting for a maximum of 30 nights a year, only with a permit and national registration number, and bans it entirely in several central districts. Other municipalities set their own caps under the Tourist Rental Act.Private investors are taxed in Box 3 on a deemed return on net assets (around 6% notional, taxed at 36%) rather than on actual rent; a true actual-return system is planned for 2028. OZB and sewage levies are due annually.Amsterdam 12.5% of the room rate · most other cities €1–5 per night
🇩🇪 Germany2–3.5%≈10%Berlin, Munich, Hamburg and other cities enforce a Zweckentfremdungsverbot: letting a whole flat short-term needs a permit and a visible registration number. Resort municipalities often require Ferienwohnung zoning approval.Rental profit is taxed with your progressive income tax (14–45%) after 2% straight-line depreciation and cost deduction. Short-term lodging is subject to 7% VAT once you exceed the small-business threshold.Berlin 7.5% city tax · Kurtaxe €1–4 per night in resorts
🇬🇧 United Kingdom2–4%≈8%Greater London limits whole-home short lets to 90 nights a year without planning permission. Scotland requires an STR licence for every property; England is introducing a national registration scheme and a dedicated planning use class.Rental profit is taxed at 20–45% income tax; mortgage interest only earns a 20% tax credit. Non-resident landlords must register with HMRC and pay capital gains tax on disposal.None nationally · Edinburgh visitor levy 5% from July 2026
🇦🇹 Austria2–3.5%≈10%Since July 2024 Vienna allows short-term letting in residential zones for a maximum of 90 days a year unless a special permit is granted. Tyrol and Salzburg only allow holiday letting where a Freizeitwohnsitz designation exists.Rental profit is taxed at progressive income-tax rates (0–55%) after 1.5% depreciation; tourist letting with services may fall under 10% VAT. Property tax (Grundsteuer) is low.Vienna 3.2% of the room rate · Ortstaxe €1–3.5 per night in resorts
🇨🇭 Switzerland2–3%≈4%Non-residents may only buy holiday homes in designated tourist communes under Lex Koller quotas, and the Second Homes Act caps second homes at 20% per commune. Most resorts require guest registration and collect a Kurtaxe.Rental income is taxed at federal, cantonal and communal level; the imputed rental value on owner-used homes is being phased out after the 2025 vote. Wealth tax applies to the property's tax value.Kurtaxe CHF 2–7 per night depending on resort
🇧🇪 Belgium2–3.5%≈14%Brussels requires prior registration and planning conformity for any tourist accommodation; Flanders applies the Logiesdecreet with mandatory notification, and Bruges and coastal towns limit new holiday lets.Private furnished letting is taxed on the indexed cadastral income plus 40% for movables, not on actual rent, unless deemed professional. Annual property tax (onroerende voorheffing / précompte immobilier) is due.Brussels ≈€4–5 per night · coastal towns €1–3
🇱🇺 Luxembourg2–3%≈8%Tourist accommodation must be declared to the Ministry of the Economy (tourism directorate) and to the commune; Luxembourg City applies its zoning rules to furnished tourist lets.Rental income is taxed at progressive rates up to 42% plus solidarity surcharge, after depreciation and cost deduction. Property tax is very low, but a new national property tax reform is under discussion.€1–3 per night in most communes
🇩🇰 Denmark2–3.5%≈2%A private home may be let short-term for up to 70 nights a year when booked through a platform that reports to the tax authority (30 nights otherwise). Copenhagen requires registration; summer houses follow separate rules.Platform-reported letting enjoys a tax-free allowance of about DKK 34,000 a year; 60% of the remainder is taxed as capital income. Property value tax and land tax apply annually.None
🇨🇿 Czechia3–5%≈4%Hosts must register with the municipality and collect the local accommodation fee. A 2025 national law creates a central eTurista registry and lets municipalities set conditions and limits — Prague is preparing restrictions.Short-term letting counts as business income taxed at 15% (23% above the threshold), with a 60% lump-sum expense option under a trade licence. VAT registration is required above CZK 2 million turnover.Prague CZK 50 per night

How to read a country average

A Spanish 2.5–5% net band includes a licensed Costa Blanca apartment and a Barcelona flat you cannot legally let. A Dutch 3–4% band includes Amsterdam at 30 nights and a Zeeland house that actually books a season. The table is for shortlisting countries, not for pricing a bid.

Acquisition % is why two markets with similar ADRs produce different net yields. Belgium and Italy take a larger cheque at the notary than Portugal or France. Denmark looks 'cheap' to buy and still needs a local STR read.

STR and tax move together

France's micro-BIC / LMNP treatment is attractive until a Paris second home needs change-of-use. Portugal's simplified AL tax is attractive until the parish is in containment. Non-resident Spain at 19% on net (EU) is not the same as 24% on gross (non-EU). The tax column is the regime, not your personal return.

From shortlist to listing

When two countries survive the table, paste a real URL. Terrivio scores that address: market ADR and occupancy for the segment, this country's costs, this city's rules. Country vs country is research. Address vs address is a decision.

How to shortlist a holiday-home country

  1. Pick 2–4 markets you would actually fly to. Personal use is part of the return. Do not shortlist a country you will never visit to 'optimise yield'.
  2. Compare net yield and acquisition together. A higher gross yield that costs 12% to buy can lose to a quieter market at 7% costs.
  3. Read the STR cell as a veto, not a footnote. If the snapshot says freeze or night cap, open the city checker before you browse portals.
  4. Open one listing in the surviving country. Country averages do not close. A URL does.

Frequently asked questions

Which European country has the best holiday-home yield?

There is no single winner. Gross yields look highest in parts of Spain and Portugal; net yields compress once costs and licences are in. 'Best' is the country where you can legally let the unit you would actually buy.

Why not show all 13 columns at once?

A 13-column table is unreadable on a phone. Two to four countries is how investors actually compare. The market guides still list all thirteen.

Are the yield bands guaranteed?

No. They are 2026 orientation ranges from Terrivio country facts, not a forecast for a street. Always run a listing.

Does Terrivio cover the UK?

The pipeline includes UK constants (SDLT, council tax). Product copy still centres on 13 European markets — use the UK row as orientation and verify local England / Scotland / Wales rules.

Analyse a real listing in 60 seconds

Paste a Funda, Idealista, Rightmove or ImmoScout24 URL. Terrivio returns net yield, cashflow, risk score, tax and STR rules for 13 European countries. Launching 6 October 2026.

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All figures are indicative estimates for orientation only and do not constitute financial, tax or legal advice. Verify local rules with a qualified adviser. Last updated: 2026-09-13.