Agadir: a real estate market between tourism and local demand
Agadir is Morocco's leading beach resort, with over 3 million tourist overnight stays per year. This makes it an atypical real estate market in the Moroccan context: rental demand is both seasonal (summer tourism, charter flights, European retirees) and structural (local employees, executives from the free zone and port area). This duality offers investors several possible strategies, but also specific vacancy risks to manage.
In 2026, the Agadir property market also benefits from the momentum generated by the 2030 FIFA World Cup (co-hosted by Morocco, Spain and Portugal), which is accelerating infrastructure investment in host cities and their surrounding regions. Even though Agadir is not a host city, the region benefits from anticipated tourist flows. This is a medium-term appreciation factor to integrate into your projections.
Price per m2 and rent levels in Agadir in 2026
Property prices in Agadir vary significantly depending on proximity to the beach and neighbourhood quality. In areas close to the corniche and beach (Centre Ville, Hay Mohammadi, Founty), prices reach MAD 10,000 to 16,000/m2 for quality apartments. In more residential and outlying neighbourhoods (Bensergao, Tilila, Adrar, Cite Dakhla), prices drop to MAD 6,500 to 10,000/m2, offering a better price-to-quality ratio for budget-conscious investors.
Long-term rents for a two-room apartment range from MAD 4,500 to 9,000/month depending on location and quality. A well-placed studio near the beach can rent for MAD 3,000 to 5,000/month on a long-term basis, or reach MAD 400 to 700/night as seasonal accommodation (Airbnb, Booking) in peak season (June to September). The gap between high and low season is substantial and must be modelled conservatively.
To compare different properties on a common basis, enter your figures into our rental profitability calculator and test both scenarios (long-term vs seasonal) using real market rents for the target neighbourhood. Do not base your annual yield projection on peak-season rents alone, use a realistic weighted annual average.
Here are indicative per-neighbourhood ranges from 2025-2026 listings. These are orders of magnitude, not guaranteed prices.
| Neighbourhood | Avg price/sqm | 2-room rent | Est. gross yield |
|---|---|---|---|
| Founty / corniche | 12,000–16,000 MAD | 6,500–9,000 MAD | 5–6.5% |
| Hay Mohammadi | 10,000–14,000 MAD | 5,500–7,500 MAD | 5.5–7% |
| City center | 10,000–13,000 MAD | 5,000–7,000 MAD | 6–7.5% |
| Cite Dakhla | 7,500–10,000 MAD | 4,200–5,800 MAD | 6.5–8% |
| Bensergao / Tilila / Adrar | 6,500–9,500 MAD | 3,800–5,200 MAD | 6.5–8% |
For seasonal lets near the beach, the nightly rate often reaches 400–700 MAD in high season. Base your projection on a conservative annual occupancy, not the summer peaks, and confirm with a local professional.
Gross, net and cash-on-cash yield in Agadir
Gross yield in Agadir generally falls between 5% and 8% depending on location and strategy. A well-placed studio near the beach bought for MAD 550,000 and rented at MAD 4,000/month long-term shows a gross yield of 8.7%, strong compared with Casablanca or Rabat. But this figure ignores running costs, seasonal vacancy and tax.
Net yield, after syndic fees (~MAD 600 to 1,200/month), communal tax, maintenance and vacancy allowance (estimated at 1–2 months per year for long-term, more for seasonal off-peak), typically falls to 3.5%–5.5%. In seasonal lettings, gross yield can be higher (10–14% over the summer months), but annual net yield after operating costs (platform fees, cleaning, management, off-season vacancy) typically stabilises at 5%–8% depending on occupancy.
Cash-on-cash ROI (the most relevant measure for a leveraged investor) depends on your down payment and the rate obtained. In our Morocco real estate ROI tool, enter price, rent, down payment, rate and charges to get a precise projection of your annual cash flow and return on equity.
Key neighbourhoods for buy-to-let investment in Agadir 2026
Founty is one of the most sought-after areas for tourist rental investment. Located between the beach and the main avenues, it concentrates quality residences with pools, highly sought on Airbnb in summer. Prices are high (MAD 12,000 to 16,000/m2) but seasonal income potential is among the best in the city.
Bensergao and Tilila offer a more accessible compromise: moderate prices (MAD 7,000 to 10,000/m2), stable local rental demand (employees, students, families) and gradual price appreciation. These neighbourhoods suit investors who prefer long-term lettings and income stability over the operational complexity of seasonal management.
The historic city centre is lively but also denser and less suited to premium tourist lettings. Adrar and Cite Dakhla are developing areas with lower entry prices and medium-term appreciation potential, but rental demand is less established there. Whatever the neighbourhood, verify actual rents on real estate portals (Avito, Mubawab) and short-stay platforms (Airbnb, Booking) before validating your rent assumptions.
Airbnb vs long-term rental in Agadir: direct comparison
Seasonal letting (Airbnb/Booking) in Agadir looks attractive on paper: during the 3 summer months (July–August–September), a good beach-side apartment can generate MAD 40,000 to 60,000 in gross income, equivalent to 3–4 months of long-term rental income. But for the rest of the year, occupancy drops and quiet periods (November to March) can be nearly empty.
Long-term rental generates lower income but provides stable and predictable cash flow. Less operational management, less turnover, fewer refurbishment costs. For a remote investor (MRE or non-resident), long-term is usually more straightforward and delivers a more predictable net ROI. The turnover of seasonal letting and the associated management costs can quickly erode the summer revenue surplus.
Our Airbnb vs long-term rental guide models both scenarios with detailed assumptions. For Agadir specifically, a mixed strategy (seasonal in summer, long-term in winter) can be considered to maximise annual income, but requires a reactive management agency and a property that can easily adapt to both uses.
Concrete ROI simulation in Agadir: worked example
Take a 2-room 60m2 apartment in Bensergao: price MAD 720,000. Down payment 25% (MAD 180,000) + acquisition costs 7% (MAD 50,400) = MAD 230,400 in own funds. Mortgage: MAD 540,000 over 20 years at 5.2%, monthly payment ~MAD 3,610. Long-term monthly rent: MAD 5,500. Monthly costs (syndic MAD 700 + maintenance MAD 300 + vacancy provision MAD 400) = MAD 1,400. Monthly cash flow: 5,500 - 3,610 - 1,400 = +MAD 490/month. Annual cash flow: MAD 5,880. Cash-on-cash ROI: 5,880 / 230,400 = ~2.6%.
This modest ROI can be improved by increasing the down payment (lower monthly payment), negotiating a better rate or opting for seasonal letting in summer. With a seasonal strategy letting at MAD 450/night for 70 nights in summer and MAD 5,000/month for the remaining 9 months, annual gross income becomes: (70 × 450) + (9 × 5,000) = 31,500 + 45,000 = MAD 76,500/year. With 20% additional operating costs for seasonal management, annual net cash flow after mortgage rises significantly.
Test both scenarios in our profitability calculator by adjusting the average monthly rent, term and running costs. The key is to start from real market figures, not optimistic assumptions. A conservative seasonal scenario with 60–65% annual occupancy is more reliable than one based on peak season alone.
Key risks and watch points for investing in Agadir
Seasonality is the main risk in Agadir. Unlike Casablanca or Tangier where demand is structural and year-round, Agadir depends heavily on tourism. An external shock (international instability, flight route cancellations, health crisis) can cause tourist occupancy to collapse rapidly. Your plan must remain viable on a long-term basis even if you opt for seasonal letting.
Remote management is a challenge if you are not based locally. A quality Moroccan property management agency is essential for MREs or non-resident investors. Check references, read reviews and ask for detailed monthly reporting. Management fees (8–12% of rents) must be built into your simulation from the start.
New-build vs resale: Agadir has many new-build projects, sometimes sold off-plan (VEFA). These can be attractive but carry risks of late delivery and variable build quality. Favour developers with an established track record of on-time deliveries, and verify that bank financing is conditional on construction progress. For resale properties, check the condition of the co-ownership and the syndic's financial health before committing.
FAQ + resources on buy-to-let investment in Agadir 2026
- Is Agadir profitable for rental investment? Yes, especially for seasonal letting in a well-located property. Long-term lettings offer decent yields (5–7% gross) at more accessible purchase prices than Casablanca.
- Which zone is best for investment? Founty for premium seasonal letting, Bensergao/Tilila for budget-friendly long-term letting. Avoid overly peripheral areas with poor access to amenities.
- Will the market rise with the 2030 World Cup? Direct host cities (Casablanca, Marrakech, Rabat) will benefit most. Agadir benefits from indirect effects via regional tourist flows. Strong speculation is unlikely, but moderate revaluation is possible.
- Do I need a local property manager? Strongly recommended if you are not resident in Agadir, especially for seasonal letting which demands intensive operational management.
Useful references
Use our Morocco rental profitability calculator
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