Marrakech, a city known for its vibrant culture and stunning landscapes, is experiencing a significant transformation in its short-term rental market. As of late July 2026, the number of active Airbnb listings in the city has surged to over 12,000. However, this growth seems to be coming at a cost to property owners, as the average annual revenue per rental has seen a slight decline. This trend indicates that the increasing competition among hosts is beginning to take its toll on profitability.
Despite Marrakech's status as Morocco's leading market for short-term rentals, with 12,311 listings accounting for nearly half of the national supply, the financial benefits are not as widespread as they once were. The average annual income for property owners has decreased by 0.9% year-on-year, now standing at approximately 206,000 dirhams, even amidst a steady influx of tourists to the region. This paradox highlights a growing imbalance where the influx of new listings is outpacing the market's ability to attract guests.
The Over-Saturation of the Rental Market
The recent boom in short-term rentals can largely be attributed to the proliferation of studio apartments, with many investors purchasing these small spaces solely for the purpose of nightly rentals, often without any intention of residing in them. Platforms like Airbnb have played a crucial role in facilitating the rental of these newly constructed studios. However, the situation varies significantly across different neighborhoods within Marrakech. For instance, in suburban areas like the Palmeraie, the number of rentals is notably limited to around 3,013, with an average annual income of 350,000 dirhams, reflecting a healthy increase of 3.1%.
It appears that luxury villas and high-end accommodations located outside the city center are faring better than the increasingly competitive apartment market within the urban core. For property owners, a high volume of tourist activity no longer guarantees substantial returns. Factors such as purchase price, location, concierge fees, cleaning services, maintenance costs, and local taxation have become critical determinants of profitability in this evolving landscape.
As Marrakech continues to witness the expansion of Airbnb listings, the notion of easy earnings seems to be fading into the past. With an ever-growing number of property owners vying for the same pool of travelers, the dynamics of the rental market are shifting, prompting a need for hosts to rethink their strategies and adapt to the changing environment.
As reported by bladi.net.
