Buy-to-let in Morocco: rental yield, costs and tax in 2026

Gross yield is the figure you see everywhere: annual rent divided by the purchase price. An apartment bought for 1,000,000 MAD and let at 6,500 MAD a month brings in 78,000 MAD a year, a 7.8% gross yield.

Net yield is the one that matters. Take the rent actually collected, minus the months without a tenant and the costs the owner pays, and divide by the total cost of the deal (price plus buying costs of about 7–10%, plus works and furniture). “Net-net” yield also deducts income tax.

Expect a gap of two to three points between gross and net-net: a 7% gross yield often ends up at 4–5% net before tax. Our rental yield calculator runs the numbers with your own figures.

Based on HabitatMaroc listings, November 2026 (homes; median monthly rent per m² × 12, divided by median sale price per m²; cities with at least 30 listings in each category):

• Kenitra: about 8.6%
• Marrakech: about 7.8%
• Mohammedia: about 7.7%
• Casablanca: about 7.6%
• Temara: about 7.2%
• Rabat: about 6.7%
• Tangier: about 6.6%
• Agadir: about 6.2%
• Dar Bouazza: about 6.1%
• Fez: about 5.8%
• Essaouira: about 5.4%

These figures are indicative. They compare asking prices and asking rents, not transactions: advertised rents include furnished and high-end homes, and rent is negotiable. Results vary a lot between neighbourhoods; check our prices by neighbourhood before choosing.

Before comparing yields, list what you will pay every year, whether the home is let or not:

• Building charges (syndic): set by the general meeting, often higher in complexes with security, a lift or a pool.
• Communal services tax (TSC): paid by the owner every year (see below).
• Upkeep and repairs: painting, plumbing, appliances if the home is furnished.
• Home insurance and, if you delegate, agency or management fees.
• Vacancy: allow at least one month without rent a year between tenants, more if the local market is slow.
• Loan: if you borrow, interest and loan insurance weigh directly on your cash flow.

On the tenant side, Law 67-12 governs unfurnished and furnished lets of more than thirty days: a written lease, a deposit of two months at most, rent increases capped at 8% and not before three years. Unpaid rent is settled in court, which takes time: check income and references before signing.

Rent from an unfurnished home is property income (revenus fonciers, Article 61 of the General Tax Code, CGI). Taxable income is the gross rent collected minus a flat 40% deduction (Article 64): the deduction covers all your costs, and nothing else is deducted.

This amount is added to your other income and taxed on the income tax scale (Article 73): 0% up to 40,000 MAD, then 10%, 20%, 30%, 34%, and 37% above 180,000 MAD. File before 1 March of the following year on the tax administration (DGI) portal, tax.gov.ma; for 2025 income the deadline was 2 March 2026.

If the tenant is a company or a professional taxed on the real or simplified net profit regime, they withhold 10% of the gross rent (15% from 120,000 MAD a year), unless annual rent paid to one owner is 40,000 MAD or less (Article 160 bis). This is an advance on your tax, not a final tax. In that case only, you can opt for a 20% final rate on gross rent, with no deduction and no annual return for that rent.

New in 2026: since 1 July 2026, a 5% withholding applies to rent paid by certain large companies and public bodies for property that belongs to the landlord’s business assets. An individual letting a home that is not part of a business is not affected.

The communal services tax (taxe de services communaux, TSC) is paid every year by the owner: 10.5% in urban municipalities, designated centres and resorts, 6.5% in their outskirts. The 75% reduction is reserved for a main residence, so it does not apply to a let home. Under Law 47-06, the base for a let property not subject to the housing tax can be the rent itself: ask the tax office which base applies to your property before working out your yield.

Since 12 June 2025 (Law 14-25), the DGI issues and collects the TSC and the housing tax. Our guide to owner taxes covers dates, declarations and penalties.

Furnished homes let for more and attract students, professionals on assignment and expats, but tenants change more often, furniture wears out and must be replaced, and management takes more time. Unfurnished homes attract families who stay longer, with less upkeep.

For tax, the CGI treats rent as property income “when it does not fall within professional income”, and it makes the letting of furnished premises subject to VAT (Article 89). Depending on your situation, a furnished let may therefore be treated as professional income, without the 40% deduction. Have an accountant confirm the category before you choose.

Letting by the night (Airbnb, Booking) can earn more in Marrakech, Agadir or Essaouira, but comes with seasonal income, cleaning and concierge costs, guest registration and a legal framework still incomplete in 2026. Long-term letting earns less per month but takes little time and follows a clear framework (Law 67-12).

For an honest comparison, use a cautious occupancy rate for short lets and deduct platform fees, cleaning and management. See our guide to short-term rentals in Morocco.

An 80 m² apartment bought for 1,000,000 MAD, buying costs of about 70,000 MAD, let unfurnished at 6,500 MAD a month. Assumptions: one month of vacancy, building charges of 4,800 MAD, insurance of 1,000 MAD, upkeep of 3,000 MAD a year, owner already in the 34% marginal bracket.

• Gross yield: 78,000 / 1,000,000 = 7.8%.
• Rent collected over 11 months: 71,500 MAD. TSC: if the base is the rent, 10.5% comes to about 7,500 MAD; it can be lower if the tax office uses a lower rental value.
• Net before tax: 71,500 − 4,800 − 7,500 − 1,000 − 3,000 = 55,200 MAD, about 5.2% of the 1,070,000 MAD total cost.
• Tax: 71,500 × 60% = 42,900 MAD taxable, at 34% = about 14,600 MAD. Net-net: about 40,600 MAD, or 3.8%.

These figures are assumptions to show the method. Redo the calculation with your real amounts in our rental yield calculator, and add the cost of the loan if you borrow.

• Compare the rents actually charged in the street or complex, not just the listings.
• Ask for the building charges, the latest general meeting minutes and any works voted.
• Read the co-ownership rules if you plan furnished or short-term letting.
• Check the title deed (titre foncier) and that it carries no mortgage or seizure.
• Work out the net yield after tax, with a cautious vacancy assumption.
• Keep a reserve for several months of costs and loan repayments.