What does a holiday rental at Lake Garda earn?
On stock Terrivio tracks, gross yield at Lake Garda is typically 5–8% and net yield 2–4% after operating costs and purchase costs. The gap is the whole story: platform fees, cleaning, management, energy, insurance, community charges and local tourist tax often absorb 35–50% of gross revenue.
Worked example: a property at €330,000 let at €155 per night with 48% occupancy books about 175 nights and €27,125 of annual revenue (8.2% gross yield). After 26% variable costs and €4,000 of fixed costs, NOI is about €16,073 — 4.4% net on a total investment of €363,000.
Seasonality — do not annualise a peak week
Easter–October is the lake. Winter is quiet except in the north (Riva, sport and mountains). A 45–55% annual occupancy is an honest licensed apartment; German holiday weeks in August should not be your annual ADR.
Condominio rules in older palazzi often restrict short lets. Read the regolamento before the deposit. Cedolare secca (21%, or 26% from the second STR) is usually the tax path for individuals — still model IMU on a second home.
Purchase costs and tax at Lake Garda
Budget about 10% above the asking price for acquisition costs in Italy. Main item: 9% registration tax on cadastral value (second home) · 10% VAT new-build. These costs are gone on day one — that is why Terrivio divides NOI by total investment, not by asking price.
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.
Tourist tax: €1–10 per night depending on the comune. Usually collected from guests, but it still sits inside your competitive nightly rate.
Short-term rental rules at Lake Garda
A national CIN code is mandatory since 2025, plus regional tourist tax and fire-safety rules. Some comuni cap nights or require a SCIA. Do not assume a lakefront listing is automatically lettable 180 nights.
Country overlay (Italy): 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.
Popular towns include Desenzano, Sirmione, Riva del Garda, Bardolino and Garda. Each has a different seasonality and licence map — Terrivio scores regulation for the exact city on a listing analysis.
How to calculate yield at Lake Garda
- Estimate annual revenue. Use a blended ADR and annual occupancy, not a peak-week rate. Booked nights = 365 × occupancy. Then revenue = ADR × booked nights.
- Subtract operating costs. Variable costs (platform, cleaning, management) plus fixed costs (insurance, utilities, community fees, maintenance). A starting point at Lake Garda is 26% variable plus the fixed costs in the calculator.
- Add purchase costs to the price. Include transfer tax, notary, registry and agency — about 10% at Lake Garda.
- Divide NOI by total investment. That is net yield. Compare it with your mortgage rate and with a long-term rental fallback before you bid.
Frequently asked questions
Is a holiday home at Lake Garda a good investment in 2026?
It depends on licence, micro-location and whether you need the weeks yourself. Typical net yields are 2–4%. Always underwrite net, never gross, and never assume a peak-week rate runs 365 days.
How do I calculate rental yield at Lake Garda?
Net yield = (annual revenue − variable costs − fixed costs) ÷ (purchase price + acquisition costs). Annual revenue is ADR × 365 × occupancy. The calculator on this page does that with Lake Garda defaults.
What are purchase costs at Lake Garda?
Plan about 10% of the price: 9% registration tax on cadastral value (second home) · 10% VAT new-build, plus notary, registry and any agency fee.
Do I need a licence to let at Lake Garda?
A national CIN code is mandatory since 2025, plus regional tourist tax and fire-safety rules. Some comuni cap nights or require a SCIA. Do not assume a lakefront listing is automatically lettable 180 nights.