Estimate

The rate is adjusted by district, then by the number of bedrooms, less than proportionally: a six-bedroom house does not let for three times the price of a two-bedroom. The villas of Amelkis and the Palmeraie follow an adjustment of their own, established by direct survey — the detail is in the next section.

This calculator describes the ordinary market, not the exceptional segment. Two riads surveyed in the medina show 190 € and up to 1,690 € a night — the second sleeps forty. These are no longer rental houses, they are small private hotels, and their price follows neither the district nor the bedroom count. Above roughly 200 € a night, leave this tool and estimate by hand.

These values are calibrated on five AirDNA estimates, taken on 25 September 2026 for representative Marrakech properties. AirDNA has tracked 15 million listings since 2014 and provides the only licensed occupancy data available for this city.

Cross-check against Airbtics, city average over 9,818 listings: 195,000 MAD of annual income, 850 MAD a night, 62% occupancy. The occupancy level is confirmed — our 55 to 69% brackets it.

Cross-check against AirROI: 37.6% occupancy, 1,560 MAD a night. Markedly lower — this database counts owner-blocked days as unsold, where the others exclude them. To be read as a floor, not a measurement.

The three sources do agree on the season, however, and they contradict the advertised prices. Airbtics and AirROI measure income actually received, and both place the peak in April, with October just behind and a trough in July. December, which asking prices made look triumphant, comes out around the average: rates are high there but the nights do not sell as well. The curves in this calculator follow income, not the advertised price.

Sixty-nine Marrakech listings, opened one by one for three weeks far apart in the year: 14–21 April 2027, 11–18 August 2027 and 30 December 2027 – 6 January 2028. Two hundred and seven observations, one per listing and per period. No price was estimated; no URL and no identifier is duplicated.

The price does not follow the season. Twenty-six listings showed a rate on all three dates. Compared against themselves, the price index comes out at 0.98 in April, 1.03 in August and 0.99 at New Year. The median gap between the highest and lowest rate of a single listing is 1.06× — six per cent, between April and New Year's Eve.

Nine of those twenty-six listings show a strictly identical rate on all three dates. An apartment in Guéliz asks the same price on 15 April, 12 August and 31 December. Pricing is not managed automatically: a substantial part of the market does not do it at all.

Two consequences. A price survey cannot be used to build a seasonal curve: a rate that never moves says nothing about demand. The seasonality in this calculator therefore comes from the three databases that measure income received, never from advertised prices.

And the advertised price is not the price obtained. Brought back to two bedrooms and to the host's share, the rates surveyed come out on average a fifth to a quarter above what this calculator uses — but the gap is not uniform: +25% on the apartments of Guéliz, +24% on the riads of the medina, and −18% on the villas of the Palmeraie. A gap that changes sign is not a conversion factor. The likeliest explanation is that the two measures are not measuring the same thing: weekly and monthly discounts, last-minute reductions, nights that do not sell at the asking rate. We keep the lower value, the one that matches income received. A conservative estimate is worth more than a promise.

Four stays actually paid for, taken from Airbnb receipts. The amounts below are the nightly price received by the host, excluding the cleaning fee and the service fee charged to the guest.

Two lessons. First the ratio of 1 to 2.8 between January and August, which underpins the seasonal curve for apartments in residences. Then the cleaning fees shown — 10 to 19 euros, or 110 to 200 MAD: far below the real cost of a turnover. These hosts absorb the difference to look cheaper in the search results. That is a choice; it is worth knowing you are making it.

The surveys date from 2024; the rates in the table are uprated by about 15% for 2026. Converted at 10.8 MAD to the euro.

Two opposite markets in the same city. The riad in the medina loses a quarter of its price in August; the apartment in a residence gains a fifth of its own over the same weeks. The first lives on European guests escaping the heat, the second on Moroccan and expatriate guests arriving with the school holidays. That is why the calculator changes curve by district, and not only by property type.

The caretaker is costed at the 2026 minimum wage, 17.92 MAD an hour for 191 hours a month, plus employer contributions. An undeclared caretaker costs less and exposes the owner; we cost only the declared case.

The tourist tax does not appear in this table: it is collected from the guest and passed to the commune. It costs the owner nothing, but forgetting it brings a 25% penalty and late interest.

The weeks you keep for yourself do not reduce everything. Cleaning, laundry, maintenance and the platform commission fall with the number of nights let. Water, electricity, internet, service charge, pool, garden, caretaker and insurance keep running: spread over the nights that remain, those costs therefore weigh more heavily on each night sold.

What really changes the cost of a week kept back is the season: a high-season week is worth almost double a quiet one. The calculator shows both figures under the chart — that is the number to look at before blocking dates.

An annual estimate describes an established property. The first year does not resemble it, and the gap between the two is what makes owners disappointed.

The set-up budget. Published budgets for Marrakech, converted at 10.8 MAD to the euro:

As a floor, furnishing a one-bedroom in Morocco comes to 52,900 MAD — but that is household furniture. Letting it out also demands three sets of linen, decoration, safety equipment and professional photographs. The budget the tool proposes by default is a starting point: the condition of the property makes it vary threefold, and you should correct it.

The lost months. Allow one to three months between starting the work and the first published listing. Those months produce nothing while the fixed costs already run. The tool counts them only from going live, which is the most favourable reading: if your works run long, add them yourself.

The ramp-up, and what we do not know about it. A listing with no reviews does not fill like an established one. That is true everywhere, and no public source measures that pace in Marrakech. So we have not invented a figure: the control offers 55%, 70% or 85% of the steady rate at the start, returning to the normal rate in the twelfth month, and the owner chooses the assumption. It is the same principle as the occupancy rate, and it is deliberately shown as an assumption, not a measurement.

Recovering the set-up budget is operating arithmetic: how many months of net income are needed to cover the budget committed. It is not a yield, nor a valuation of the property: the purchase price appears nowhere in this calculation, and this tool gives no investment advice.

Tax is estimated under the property-income regime: a flat 40% allowance on gross income, then the progressive income tax scale (0% up to 40,000 MAD, then 10, 20, 30, 34 and 38%). Exempt where annual gross stays below 30,000 MAD. The applicable regime depends on the services provided: a furnished let with services may fall under business income. To be confirmed by a chartered accountant.

Because the allowance is flat-rate, the management commission is not deductible from the taxable base.

The management time shown is counted at three hours per turnover — messages, arrival, departure, checking the cleaning, linen, incidents — plus twelve hours a year of administration. It counts neither travel nor being on call. It is a measure of the workload, not a promise of savings.

The operating costs are identical in both columns: cleaning, laundry, water, electricity, insurance. We take no margin on any of them. Since the tax allowance is flat-rate, the commission is not deductible from the taxable base: the tax is therefore identical too, and the gap between the two columns corresponds exactly to the commission.

This calculation assumes no gain in income from the management. Professional management aims at a better occupancy rate and a better average price, but we do not build it in: we could not prove it on your property before having managed it.