Rental yields in Morocco by city: what landlords really earn in 2026

Gross rental yields on long-term lets in Morocco's main cities run about 5-8%, depending on the source: Global Property Guide puts Casablanca and Marrakech above 8%, while crowd-sourced Numbeo data puts most cities near 5-6%. Net returns are lower: in our illustrative example, a 6% gross yield becomes 3.5-4.6% after vacancy, running costs and income tax. Short lets clearly out-earn long lets only in Marrakech.

Updated 5 October 2026

Key facts

Global Property Guide puts Morocco's average gross rental yield at 7.31% in Q1 2026, with Casablanca at 8.30%, Marrakech 8.25% and Rabat 6.92% (Global Property Guide).
Numbeo's crowd-sourced data gives gross yields of about 6% in central Casablanca, Rabat and Tangier and 5.1% in central Marrakech, as of October 2026 (Numbeo).
The average Marrakech Airbnb listing earned USD 14,527 in the twelve months to July 2026, against USD 5,150 in Casablanca (AirROI).
Rent from an ordinary let is taxed after a flat 40% allowance at the 0-37% income tax scale; a final 20% rate is optional only where the tenant withholds tax (Code Général des Impôts 2026, Arts. 64 and 73).
Buying costs include 4% registration duty and a 1.5% land-registry fee, before notaire fees (Code Général des Impôts 2026; ANCFCC).
The official property price index rose 0.6% in 2025 and 0.7% in the year to Q2 2026, so rent is most of the return (Bank Al-Maghrib/ANCFCC).

What are rental yields in Morocco by city?

Between about 5% and 8% gross for long-term lets in the large cities, and the source matters as much as the city. Gross yield is a year's rent divided by the price, before any cost.

Casablanca: 8.30% (Global Property Guide, Q1 2026); 5.97% centre, 6.09% outside (Numbeo, October 2026). Central one-bedroom rent: MAD 5,892 a month.
Marrakech: 8.25% (GPG); 5.10% centre, 6.77% outside (Numbeo). Central one-bedroom: MAD 4,676.
Rabat: 6.92% (GPG); 5.84% centre, 6.04% outside (Numbeo). Central one-bedroom: MAD 5,180.
Tangier: 5.99% centre, 5.53% outside (Numbeo). Central one-bedroom: MAD 4,670.
Agadir: 5.42% centre, 4.36% outside (Numbeo). Central one-bedroom: MAD 4,120.
Fès: 9.2% in the centre on Numbeo, an outlier we would not rely on without local evidence.

Size matters too. GPG gives 7.83% for one-bedroom and 9.03% for two-bedroom flats in Casablanca, but 8.74% for one-bedroom and 5.04% for three-bedroom flats in Rabat. City pages: Casablanca and Marrakech.

Why do Global Property Guide and Numbeo disagree?

Because they draw on different samples, and neither measures what a landlord banks. Numbeo averages prices and rents reported by users, with 8-19 contributors per city in October 2026, so a few entries can move a figure. Its national averages are 4.76% in city centres and 4.53% outside, against 7.31% on GPG. We could only read GPG's published summary, not its full method.

Both are gross yields built on asking or reported figures, not registered leases. Our reading: use Numbeo's 5-6% as the base case for a flat in a large city, and treat 8% as the top of the range, reachable only with a below-average price or above-average rent. GPG itself says net yields typically run 1.5-2 points below gross.

Do short-term rentals earn more than long-term lets?

Clearly, only in Marrakech. AirROI averages for the twelve months to July 2026, converted at about 9.3 dirhams to the dollar (Bank Al-Maghrib, August 2026):

Marrakech: 11,363 listings, 37.6% occupancy, USD 14,527 a year (about MAD 135,000)
Essaouira: 36.2% occupancy, USD 10,912 (about MAD 101,500), down 10.3% on a year earlier
Tangier: 33.0% occupancy, USD 7,004 (about MAD 65,000), down 21.8%
Agadir: 35.9% occupancy, USD 6,936 (about MAD 64,500)
Casablanca: 33.1% occupancy, USD 5,150 (about MAD 48,000), down 22.4%

Compare a long let: a central one-bedroom flat in Casablanca rents for about MAD 70,700 a year on Numbeo's averages, more than the average Casablanca listing grosses on Airbnb. In Tangier and Agadir, short lets gross roughly 15-30% more than a central one-bedroom long let. The comparison is rough, since AirROI mixes property sizes and part-time hosts.

Short lets also carry costs long-term landlords mostly avoid: cleaning, furnishing, utilities, platform fees, daily police declarations and an unresolved licensing regime. See our short-term rental rules.

What costs separate gross from net yield?

Five items, and tax is often not the largest.

Vacancy: each empty month removes 8.3% of a year's rent.
Income tax: see the next section; it depends on your other Moroccan income.
Local taxes: the local services tax (TSC) is 10.5% of a rental value set by a census commission in urban areas and 6.5% in peripheral zones, with no new-build exemption. Housing tax of 0-30% of rental value applies to main and second homes (DGI), so it matters mainly if you also use the property yourself; ask the commune how it treats a home let all year.
Service charges and repairs: set by the building's syndic and the property's age; ask for recent accounts before buying.
Management: a letting agent or short-let manager takes a share of rent. We found no reliable published benchmark for Moroccan fees, so get written quotes.

Purchase costs dilute the yield too: 4% registration duty, a 1.5% land-registry fee plus MAD 100 per title, and notaire fees (see buying costs).

How is rental income taxed in 2026?

For an ordinary unfurnished let, 40% of gross rent is deducted as a flat allowance and the rest is taxed at the income tax scale: nil to MAD 40,000, then 10%, 20%, 30% and 34% bands, and 37% above MAD 180,000 (CGI 2026, Arts. 64 and 73). Rent is added to your other Moroccan taxable income (Art. 25); non-residents pay on Moroccan-source income only (Art. 23). The return is due before 1 March.

If the tenant is a company or a business-regime individual, it withholds 10% (annual rent under MAD 120,000) or 15% (MAD 120,000 or more), credited against your final tax; nothing is withheld at MAD 40,000 a year or less. Only then can you opt for a final 20% on gross rent. Because 20% of gross equals 33.3% of the taxable base, the option saves tax only on rent that would fall in the 34% or 37% bands.

The 5% withholding introduced from 1 July 2026 applies only to rent paid to companies and business-regime landlords, not ordinary individuals. Furnished and short-term lets may be taxed as professional income, without the 40% allowance. This is general information; confirm with a notaire or tax adviser, and see our property tax guide.

Worked example: from 6% gross to about 4% net

Illustrative only, not a forecast. Assumptions: a three-bedroom flat in central Casablanca bought for MAD 2,000,000 (about EUR 185,000 at 10.8 dirhams), let unfurnished to a private individual for MAD 10,000 a month, close to Numbeo's MAD 10,791 average for that size; one month empty a year; MAD 15,000 a year for service charges, local tax, insurance and repairs (our assumption); no mortgage and no agent.

Gross yield: MAD 120,000 / 2,000,000 = 6.0%
Rent received after one empty month: MAD 110,000
Taxable after the 40% allowance: MAD 66,000
Income tax if this is the owner's only Moroccan income: MAD 3,200 (10% on 20,000 plus 20% on 6,000)
Net income: 110,000 - 15,000 - 3,200 = MAD 91,800, or 4.6% of the price and 4.35% including the 5.5% purchase duties
Owner already in the 37% band through other Moroccan income: tax MAD 24,420, net MAD 70,580, or 3.5% of the price

Each 10% of rent paid to an agent removes another 0.55 points. Debt rarely helps: household home loans averaged 4.53% in Q2 2026 (Bank Al-Maghrib), so borrowing to earn the 4.35-4.6% of this example leaves little or nothing on the borrowed money, and official prices rose only 0.6% in 2025 (see property prices).

Sources

Frequently asked questions

What is a good rental yield in Morocco?

About 5-6% gross is a realistic base case for a long-term let in a large city, on Numbeo's October 2026 data; Global Property Guide's figures are higher, at 7.31% nationally. Net of vacancy, running costs and income tax, expect roughly 1.4 to 2.5 points less, on our illustrative example. Ask for signed leases or platform statements before believing a higher figure.

Which Moroccan city has the highest rental yield?

Casablanca or Marrakech, depending on the source. Global Property Guide puts them at 8.30% and 8.25% gross in Q1 2026, above its 7.31% national average and Rabat's 6.92%. On Numbeo, outer Marrakech is highest among the large cities at 6.77%, with Casablanca, Rabat and central Tangier around 6%, setting aside an outlying 9.2% for central Fès. For short lets, Marrakech is far ahead of Casablanca (AirROI).

What is the Airbnb occupancy rate in Marrakech?

About 38%. AirROI puts average occupancy at 37.6% across 11,363 active Marrakech listings in the twelve months to July 2026, with an average nightly rate of USD 156. Entire homes make up 82% of listings, 94% of guests come from abroad, led by France and the UK, and April, August and October are the peak months.

Do non-residents pay tax on rental income in Morocco?

Yes. Non-residents are taxed in Morocco on Moroccan-source income, including rent from Moroccan property (tax code Art. 23). An ordinary let is taxed after a 40% allowance at the 0-37% scale, with a return due before 1 March. The Netherlands-Morocco treaty, for example, lets Morocco tax income from property located there (Art. 6); your home country's own rules then apply.

Is it better to rent long-term or on Airbnb in Morocco?

It depends on the city. In Casablanca, the average Airbnb listing grossed about MAD 48,000 in the year to July 2026, less than the roughly MAD 70,700 a year Numbeo shows for a central one-bedroom flat on a long lease. In Marrakech, short lets averaged about MAD 135,000. Short lets also bring more costs, more work and regulatory uncertainty.

Can you get a 10% rental yield in Morocco?

Gross, occasionally; net, rarely. Global Property Guide reports 9.03% gross for two-bedroom flats in Casablanca in Q1 2026, the highest figure in its published summary. In our illustrative example, vacancy, running costs and tax take 1.4 to 2.5 points off a gross yield, so a 10% net return would need an unusually low price or high rent. Treat such promises as marketing until documented.

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