Morocco Property Market 2026: Prices, Yields and Bubble Risk
Morocco averages 1,351 USD per square metre, pays a 7.31% gross rental yield and carries the lowest bubble score Glopra tracks. What the 2026 numbers show.
Morocco is the cheapest country in Glopra's fifteen-market set that still pays a gross rental yield above 7%. Buyers notice that pairing, which is why the country keeps appearing on shortlists that also contain Spain and the Gulf.
What does a square metre cost in Morocco?
Glopra's snapshot of 2026-07-23 (methodology v3) puts the national city-average at 1,351 USD per square metre. The same snapshot records 5,760 USD for the UAE, so an identical floor plan costs under a quarter as much in Casablanca as it does in Dubai. Marrakech is the domestic outlier at 1,729 USD per square metre, roughly 28% above the national line, which is what happens when restored riads and villa plots are priced for foreign buyers rather than local salaries. Those salaries are the weak spot. Glopra's price-to-income ratio for Morocco is 14.15, so a household on an average national income faces more than fourteen years of gross earnings for a standard home. Cheap in dollars and affordable in Rabat are two different statements.
How much does letting actually pay?
Gross yield across the country is 7.31% in the same 2026-07-23 snapshot, and Marrakech runs ahead of it at 8.25%, carried by tourist demand for riads and serviced apartments. The Global Property Guide yield tables for Morocco sit in the same range. Gross is the operative word here: syndic charges, vacancy between tenants and management fees on short-term lets all come out of that figure before anything reaches the owner.
Is the Moroccan market overheated?
By Glopra's measure it is the least overheated market on the list. Morocco scores 16 out of 100 for bubble risk in the 2026-07-23 snapshot, the lowest of all fifteen markets tracked under methodology v3, while Portugal sits at 84 on the same scale. Marrakech scores 8, lower still, which is unusual for a city with heavy foreign demand. A low score describes the distance between prices and fundamentals. It does not forecast gains.
Are prices falling?
In dollars yes, in dirhams barely. Glopra records −4.2% year on year in USD against −0.4% in local currency, so almost the whole dollar decline is exchange-rate movement rather than sellers cutting asking prices. The official reading agrees: Bank Al-Maghrib and ANCFCC figures, reported by TelQuel in June 2026, put the national price index down 0.4% in the first quarter of 2026. Over five years Glopra has Morocco down 4.6%, and over ten years up 2.4%. Flat, in other words, with the currency doing most of the visible work.
What do the purchase and the tax take?
Total transaction cost is 10.3% of the price in the 2026-07-23 snapshot, covering registration, notary work, land-registry fees at ANCFCC and agency commission. Spain in the same dataset takes 15.3% and Georgia 4.9%, so Morocco sits mid-range among the markets Glopra tracks; on a 200,000 USD purchase the gap to Spain is around 10,000 USD. Rental income is then taxed on a progressive scale that Glopra models at an effective 11.3%, inside a band running from 3.12% to 14.09%. Applied to a 7.31% gross yield that leaves roughly 6.5% before any running cost. Glopra rates confidence in the Moroccan country data as High and the Marrakech city figures as Medium, so treat the city numbers as the softer half of the picture.
This article is general information and not legal, tax or investment advice. Take qualified local advice before committing to a purchase.
Sources
Bank Al-Maghrib / ANCFCC via TelQuel — https://telquel.ma/instant-t/2026/06/22/immobilier-lindice-des-prix-recule-de-04-au-t1-2026_1995264
Global Property Guide, square metre prices — https://www.globalpropertyguide.com/africa/morocco/square-meter-prices
Global Property Guide, rental yields — https://www.globalpropertyguide.com/africa/morocco/rental-yields
DarIndex Marrakech — https://darindex.ma/
Glopra Market Data v3 — https://glopra.com