Rental yield in Casablanca:
what a property really earns

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You want to know what your apartment can realistically earn in Casablanca before you buy. Here are the real figures, district by district, with the net yield calculation and the tax treatment that comes with it. By Morgan Richez, co-founder of Morgan & James Real Estate Agency.

In Brief

5% to 7% gross yield per year.

That is the range for a residential property in Casablanca. Smaller units and districts close to the employment hubs sit at the top of it. Premium areas such as Anfa earn less in rent but appreciate more over time. Allow 1 to 2 points less on a net basis, once charges, taxes and vacancy have been deducted.

Which Casablanca districts offer the best rental yield?

Indicative gross yield ranges by district. Treat them as benchmarks rather than guarantees: the actual return depends on the specific property, its condition, the floor it sits on and the rent you negotiate.

District	Dominant property type	Gross yield	Profile
Anfa / Anfa Superieur	High-end apartments, villas	3.5 – 4.5%	Strong capital growth, premium tenants
Californie / Ain Diab	Villas, upscale homes, corniche	4 – 5.5%	Residential and seasonal, close to the sea
Racine / Gauthier	Classic apartments, offices	4.5 – 6%	Very stable rental demand
Maarif / CIL	Apartments, retail premises	5 – 6.5%	Rental heartland, fast turnover
Sidi Maarouf / Casanearshore	Studios, one-bedroom units, new developments	5.5 – 7%	Business-hub professionals, off-plan
Bouskoura Golf City	New-build apartments, villas	5 – 6.5%	New build, tax exemptions, families

Morgan & James Real Estate benchmarks, Casablanca market. Gross yield ranges before charges and taxation.

What is the average rental yield in Casablanca?

Gross rental yield is the ratio of annual rent to the purchase price of the property, expressed as a percentage. In Casablanca, it usually falls between 5% and 7% for residential accommodation.

Two things move that figure: floor area and location. A well-placed studio or one-bedroom earns proportionally more rent than a large villa. And a district under pressure from professional demand lets quickly, with very little vacancy.

I have seen the same pattern play out on the ground for years. The properties posting the strongest gross yields are almost never the most prestigious ones. They are the unit sizes young professionals are looking for, in the districts where people actually work.

How do you calculate the net yield on a Casablanca property?

Net yield is what genuinely stays in your pocket: annual rent less charges, taxes and vacancy, measured against the purchase price including acquisition costs.

Gross is useful for a quick comparison. Net is what you decide on. It is the only figure I look at before advising a client to buy.

GROSS YIELD

(Annual rent ÷ Purchase price) × 100

NET YIELD

(Annual rent − charges − taxes − vacancy) ÷ (Price + acquisition costs) × 100

A worked example. An apartment at 1,500,000 MAD, let at 8,000 MAD per month. Annual rent: 96,000 MAD. Gross yield: 6.4%. After the managing agent's fees, the municipal services tax, one month of vacancy, and acquisition costs, the net yield falls to between 4.8% and 5.2%.

The gap between 6.4% and 5% is anything but trivial. Over ten years, it is what separates a strong investment from an average one.

What does buying cost, and how is rental income taxed?

Acquisition costs

Buying a property in Morocco generally costs 6% to 7% of the price in fees.

These cover registration duties, land registration with the ANCFCC and the notary’s fees. On a new-build bought off-plan (VEFA), the fee structure differs slightly, and reduced duties sometimes apply.

Tax on rental income

Rent received is subject to income tax, under a regime specific to rental income.

Reduced rates apply, along with a temporary exemption for new-build properties in their first years. The owner remains liable for the municipal services tax, and for the housing tax depending on how the property is used. On resale, any gain falls under the tax on property profits.

A word from experience: build the tax position into your yield calculation from the outset. A property that looks profitable on paper can shed a full point once income tax and local taxes are accounted for.

Furnished or unfurnished: which works better in Casablanca?

Furnished and short-term lets command higher rents, but they demand more management and carry higher vacancy than an unfurnished long-term tenancy.

Near the corniche and Ain Diab, short-term rental performs well thanks to tourism and business travel. The headline gross yield can exceed that of a conventional letting. But you have to factor in the quiet periods, the cleaning, the platform commission and an almost daily presence.

For an investor living abroad, or simply one who values peace of mind, an unfurnished long-term tenancy remains the simplest option. The rent is lower, and the management takes a few hours a year.

Frequently asked questions

New-build or resale for investing in Casablanca?

New-build offers predictable running costs from day one, sometimes tax exemptions, and appeals to professional tenants. A well-placed older property in Gauthier or Maârif often lets faster and leaves more room to negotiate on price. The right answer depends on your objective: immediate cash flow or capital growth.

What deposit should I plan for a rental investment?

Moroccan banks generally require a deposit, on top of acquisition costs of 6% to 7%. Set aside a reserve as well, for the first months of vacancy and any works required. We cost this full plan out with you before any purchase.

Can I invest in Casablanca while living abroad?

Yes. Many of our clients invest from Dubai, Paris or London. Rental management can be delegated in full. We handle the search, the letting, rent collection and maintenance.

Is a 7% yield realistic in Casablanca?

It is, on certain well-placed smaller units, particularly near the business hubs. These properties are rare and you need to move quickly. Most investors sit closer to 5% to 6% gross, which remains a solid return.

I advise private investors and family offices on the Casablanca market. My job is to find properties that deliver on their yield promise, not just in the brochure. Every figure on this page comes from real transactions we handle.

Let's talk about your Casablanca project

Tell us your budget and your target return. We will prepare a costed selection of properties for you, net of charges and tax, within a few days.

Telephone:
+212 6 64 56 29 44

Email : contact@morganjames.ma

Address :
Rue des Arènes 1, Maârif 20000 Casablanca, Morocco

Morgan & James Real Estate Agency

The yields and ranges shown are market benchmarks provided for information only. They do not constitute investment advice or personalised tax advice. Tax rates and fees are subject to change. Consult a notary or a chartered accountant regarding your own situation.