What rental yield can you expect in Fes? (2026)

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Residential property rental yields in Fes in 2026

This table compares residential property rental yields in Fes by neighborhood and bedroom count. It focuses on apartments because the raw dataset identifies apartments as the most relevant residential investment format for a beginner buyer in Fes.

For each neighborhood, the table shows estimated average purchase price, estimated average monthly rent, gross rental yield, and net rental yield for 1-bedroom, 2-bedroom, and 3-bedroom properties.

Finally, please note you'll find much more detailed data in our real estate pack about Fes.

Which neighborhoods offer the best net yield among areas people actually want to live in Fes?

The best net-yield neighborhoods among areas people actually want to live in Fes are Champ de Course, Ain Amiyer, Nouvelle Ville, Riad, and Agdal.

Champ de Course is the clearest high-quality yield area in the dataset. Its 2-bedroom estimate is 780,000 DH with 6,000 DH monthly rent, giving 9.2% gross yield and 6.5% net yield.

Ain Amiyer is similarly strong. A 2-bedroom apartment is estimated at 710,000 DH and 5,500 DH monthly rent, which produces 9.3% gross yield and 6.5% net yield.

Nouvelle Ville is attractive because it is not priced like the most expensive central districts, but rent remains solid. Its 2-bedroom estimate of 620,000 DH and 4,500 DH monthly rent gives about 6.4% net yield.

Agdal is safer than spectacular. Its 2-bedroom net yield is about 6.1%, and the area offers better liquidity and daily convenience than many cheaper locations.

The practical takeaway for a beginner buyer is simple: Champ de Course and Ain Amiyer offer stronger income, while Agdal, Nouvelle Ville, and Riad offer a better balance between yield, tenant depth, and resale logic.

Where can I find residential properties with above-average yields and below-average entry prices in Fes?

The best Fes neighborhoods for above-average yields with below-average entry prices are Nouvelle Ville, Oued Fes, Riad, and selected parts of Ain Amiyer.

Nouvelle Ville is the cleanest value case. A 1-bedroom property is estimated at 410,000 DH with 3,000 DH monthly rent, giving 8.8% gross yield and 6.5% net yield.

Oued Fes also stands out on price. A 2-bedroom apartment is estimated at 570,000 DH with 4,000 DH monthly rent, giving about 8.4% gross yield and 6.1% net yield.

Riad is a more family-oriented case. Its 2-bedroom estimate is 660,000 DH with 4,600 DH monthly rent, which gives 8.4% gross yield and 6.2% net yield.

The warning is that cheap does not always mean good. Hay Massira and Zouagha have low 2-bedroom entry prices of 530,000 DH, but rents of only 3,100 DH per month keep net yields around 5.3%.

For a foreign individual buyer, the better strategy is to buy a reasonably priced apartment in a place where renters still have clear reasons to pay, such as access, building condition, parking, security, and resale liquidity.

Where does the rent level justify the purchase price most clearly in Fes?

The rent level most clearly justifies the purchase price in Fes in Ain Amiyer, Champ de Course, Nouvelle Ville, Oued Fes, and Riad.

Ain Amiyer has the strongest 2-bedroom rent-to-price relationship in the table. A 710,000 DH purchase price and 5,500 DH monthly rent produce 66,000 DH of annual rent, or 9.3% gross yield.

Champ de Course is expensive, but the rent premium is strong enough to support the price. Its 3-bedroom estimate of 1,020,000 DH and 7,800 DH monthly rent still produces 9.2% gross yield and 6.2% net yield.

Nouvelle Ville looks rational because its rents remain strong without the same entry price as the highest-status areas. Its 2-bedroom net yield of 6.4% is one of the best risk-adjusted numbers in the dataset.

Oued Fes is more conditional. The 2-bedroom estimate looks attractive at 6.1% net yield, but that result depends heavily on buying in a rentable building with good access, security, and tenant appeal.

We have actually built the our real estate pack about Fes to make sure you won’t buy in the wrong area. Check it out.

Where is the best place to buy if I want stable rental income rather than maximum yield in Fes?

The best places to buy for stable rental income rather than maximum yield in Fes are Agdal, Nouvelle Ville, Champ de Course, Riad, and Fes City Center.

Agdal is one of the stability anchors. The 2-bedroom estimate of 680,000 DH and 4,700 DH monthly rent gives 6.1% net yield, which is strong enough without relying on a fringe tenant pool.

Nouvelle Ville is also stable because it has central convenience and broad renter demand. Its 2-bedroom net yield of 6.4% is attractive, but the real advantage is that demand is not only from one narrow tenant group.

Champ de Course offers both income and stability when the unit quality is high. Its 2-bedroom rent estimate of 6,000 DH per month is one of the strongest rent levels in the Fes dataset.

Riad is more family-oriented and can be less turnover-driven than small furnished units. Its 3-bedroom estimate is 900,000 DH with 6,000 DH monthly rent, producing 5.8% net yield.

The trade-off is that stable Fes income usually means accepting a slightly lower headline return than the most aggressive yield cases. For a beginner, lower vacancy and easier resale can matter more than an extra fraction of gross yield.

What type of residential property should a beginner investor buy to maximize rental profitability in Fes?

A beginner investor in Fes should usually buy a well-located 2-bedroom apartment to maximize rental profitability.

The numbers support this clearly. The best 2-bedroom net yields reach 6.5% in Ain Amiyer and Champ de Course, 6.4% in Nouvelle Ville, and 6.2% in Riad.

A 1-bedroom can work in the right area, especially Nouvelle Ville, Ain Amiyer, Agdal, and Fes City Center. But Fes is not a pure studio or micro-unit market, so the tenant pool is broader for 2-bedroom apartments.

A 3-bedroom can earn more absolute rent, such as 7,800 DH per month in Champ de Course or 6,500 DH per month in Ain Amiyer. But larger units usually carry higher purchase prices, heavier maintenance, and more specific tenant needs.

Villas and riads are less beginner-friendly in this dataset. Villas require more repairs, garden or exterior maintenance, and a narrower tenant base, while riads are closer to an operating business if they rely on hospitality demand.

We give you more details in the our real estate pack about Fes.

Which neighborhoods offer strong rental income with the lowest vacancy risk in Fes?

The Fes neighborhoods that combine strong rental income with relatively low vacancy risk are Agdal, Champ de Course, Nouvelle Ville, Riad, and Ain Amiyer.

Champ de Course has the strongest rent levels in the dataset. Its estimated 2-bedroom rent is 6,000 DH per month, while its 3-bedroom rent is 7,800 DH per month.

Ain Amiyer is also strong because rent rises faster than purchase price. Its 2-bedroom apartment estimate gives 5,500 DH monthly rent on a 710,000 DH purchase price.

Agdal and Nouvelle Ville are safer because they have broad appeal. They are not only yield neighborhoods, they are also places where renters actually want to live for convenience, access, and daily services.

Riad is attractive for family-style demand. The 2-bedroom and 3-bedroom estimates show 6.2% and 5.8% net yield, which is solid without relying only on short-stay or furnished demand.

The honest interpretation is that high rent alone is not enough. A premium Fes apartment must justify its rent with condition, parking, security, comfort, and practical access.

Which areas look overpriced relative to their rental income in Fes?

The Fes areas that look most stretched relative to rental income are Bourmana for larger units, Hay Moulay El Kamel for 3-bedrooms, and some higher-priced Fes City Center stock.

Bourmana’s 3-bedroom estimate is 900,000 DH with 5,200 DH monthly rent. That gives only 6.9% gross yield and 5.0% net yield, one of the weaker large-unit results in the table.

Hay Moulay El Kamel also softens in larger formats. Its 3-bedroom estimate is 890,000 DH with 5,600 DH monthly rent, giving about 5.4% net yield.

Fes City Center is mixed rather than weak. The 1-bedroom net yield is 6.1%, but the 2-bedroom and 3-bedroom estimates fall to 5.8% and 5.6% net yield.

The local reason is that some buyers still pay for centrality, family convenience, and name recognition even when rental income is not exceptional. That can preserve resale value, but it compresses rental yield.

The trade-off is important: an area can be good to live in while still being weaker for a pure rental-income buyer.

Which neighborhoods should I avoid even if the rental yield looks attractive in Fes?

A beginner should be careful with Oued Fes, Hay Al Azhar, Hay Jdid, Hay Massira, and Zouagha if the apparent yield depends only on a low purchase price.

Oued Fes can work, but only with strict property selection. Its 2-bedroom net yield of 6.1% is attractive, but a weak building with poor management, parking, access, or security can underperform quickly.

Hay Al Azhar and Hay Jdid offer low entry prices around 360,000 DH to 540,000 DH for 1-bedroom and 2-bedroom properties. Their net yields mostly sit around 5.5% to 5.6%, which is acceptable but not enough to ignore liquidity risk.

Hay Massira and Zouagha are the clearest caution areas. Both show 2-bedroom prices of 530,000 DH, but 3,100 DH monthly rent keeps the net yield at only 5.3%.

The issue is not that these neighborhoods cannot rent. The issue is that the rent ceiling, tenant depth, resale liquidity, and building quality need to be checked more carefully.

The beginner rule is to avoid cheap properties where the only convincing feature is the low purchase price.

Which neighborhoods look risky even though the rental yield is high in Fes?

The Fes neighborhoods that can look risky even though rental yield is high are Oued Fes, Ain Amiyer for expensive furnished units, and some outer Saiss or Riad-style stock if priced like premium property.

Oued Fes has attractive yield estimates, including 5.9% net yield for 1-bedrooms, 6.1% for 2-bedrooms, and 5.7% for 3-bedrooms. But those numbers assume a rentable building with acceptable access and security.

Ain Amiyer has excellent headline returns, especially the 6.5% net yield on 2-bedrooms. The risk is that some of the rent premium depends on higher-comfort or furnished demand.

Riad is generally safer, but large or villa-style units can become risky if the purchase price rises faster than realistic rent. A normal family apartment is easier to underwrite than a niche large property.

The local Fes issue is that the city has solid household demand, but not unlimited high-income rental depth. A property asking premium rent must be genuinely better than nearby alternatives.

The safer alternative is a normal 2-bedroom apartment in Agdal, Nouvelle Ville, Riad, or Champ de Course, bought at a fair price and supported by broad tenant demand.

What neighborhoods should I avoid when buying a rental property in Fes?

For a beginner rental investor in Fes, the practical avoid-or-be-careful list is Hay Massira, Zouagha, Hay Al Azhar, Hay Jdid, and weaker parts of Oued Fes.

Hay Massira is one of the weakest risk-adjusted cases in the table. A 2-bedroom property at 530,000 DH and 3,100 DH monthly rent gives only 5.3% net yield.

Zouagha is similar. It has a large local population base, but the 1-bedroom and 2-bedroom estimates both show only 5.3% net yield.

Hay Al Azhar and Hay Jdid are not necessarily bad residential areas, but the investment case is thin unless the buyer gets a clear discount. Their yields are acceptable, not compelling.

Oued Fes should be avoided only for weak buildings or overpriced units. A good 2-bedroom can produce 6.1% net yield, but the area requires careful micro-location checks.

The practical classification is simple: avoid overpriced stock completely, avoid weak buildings as a beginner, and consider these areas only when the purchase price clearly compensates for the risk.

Which neighborhoods are seeing rental demand weaken, and why, in Fes?

Rental demand appears weaker or more fragile in Hay Massira, Zouagha, Hay Al Azhar, Hay Jdid, and some older central stock in Bourmana or Fes City Center.

Hay Massira and Zouagha show the clearest affordability ceiling. Their 2-bedroom rents are estimated at 3,100 DH per month, compared with 4,500 DH in Nouvelle Ville, 5,500 DH in Ain Amiyer, and 6,000 DH in Champ de Course.

Hay Al Azhar and Hay Jdid can still rent, but mostly at mid-low local prices. If purchase prices rise too much, yields compress quickly because rent cannot easily jump.

Older central apartments can also weaken when they lack elevators, parking, good plumbing, light, security, or modern finishing. A central address alone is not enough if newer stock is easier to live in.

This looks more like a selective slowdown than a structural collapse. The weakness is property-specific: bad buildings, poor layouts, weak parking, and overpricing.

The recommendation is to buy only where the rent is realistic, the building is easy to manage, and the price is low enough to compensate for liquidity risk.

Which neighborhoods are seeing new developments that could create stronger rental demand in Fes?

The neighborhoods most likely to benefit from newer development patterns in Fes are Oued Fes, Route Ain Chkaf and Ain Amiyer, Riad, Saiss-linked areas, and selected parts of Nouvelle Ville.

Oued Fes is the main development-sensitive area in the table. Its 2-bedroom net yield of 6.1% already suggests that better buildings and amenities can support rental demand.

Ain Amiyer and Route Ain Chkaf benefit from newer-style apartments and higher-comfort renter demand. In the dataset, Ain Amiyer’s 2-bedroom rent estimate of 5,500 DH per month is one of the strongest mid-market figures.

Riad and Saiss-linked areas can benefit from family-oriented demand and larger apartments. But new residential supply can also create competition if too many similar units arrive at the same time.

Nouvelle Ville benefits less from new construction and more from central convenience and renovation. A renovated apartment in a good building can outperform an older unrenovated unit on the same street.

The practical rule is to favor newer stock only when it comes with clear tenant demand, good access, and limited direct competition.

Which neighborhoods are becoming more attractive to renters because of recent infrastructure or transport changes in Fes?

The neighborhoods becoming more attractive to renters because of access and urban expansion patterns are Route Ain Chkaf and Ain Amiyer, Oued Fes, Riad, Saiss-linked areas, and Nouvelle Ville.

In Fes, transport advantage is often about road access, parking, daily services, and avoiding difficult commutes rather than metro-style infrastructure.

Ain Amiyer and Route Ain Chkaf benefit because they connect to newer residential growth and higher-comfort renter demand. Ain Amiyer’s 2-bedroom net yield of 6.5% suggests that rents are keeping up with prices.

Oued Fes is attractive when access and building quality are strong. A 570,000 DH 2-bedroom property with 4,000 DH monthly rent gives 8.4% gross yield and 6.1% net yield.

Riad and Saiss-linked areas benefit from family movement toward larger and more practical apartments. Riad’s 3-bedroom rent estimate of 6,000 DH per month reflects that family demand.

The investment question is whether improved access has already been priced in. In Oued Fes and parts of Riad, the yield may leave more room for error than in the most premium areas.

Which neighborhoods have become less attractive for property investors over the last 12 months in Fes?

The Fes neighborhoods that have become less attractive for yield-focused investors are Bourmana, some Fes City Center stock, Hay Moulay El Kamel for larger units, and low-rent districts where prices have not fallen enough.

Bourmana’s 3-bedroom yield is the clearest warning. A 900,000 DH purchase price and 5,200 DH monthly rent produce only 5.0% net yield.

Fes City Center remains liquid, but older stock can be less attractive if renovation costs are high. Its 2-bedroom estimate gives 5.8% net yield, which is decent but not exceptional.

Hay Moulay El Kamel weakens for larger properties. Its 3-bedroom estimate of 890,000 DH and 5,600 DH rent produces about 5.4% net yield.

Low-rent areas such as Hay Massira and Zouagha can also become less attractive when prices do not fall enough to compensate for weaker rent. Their 2-bedroom net yields remain around 5.3%.

The issue is not broad market weakness. The issue is that the balance between purchase price, realistic rent, operating cost, tenant depth, and resale liquidity has become less forgiving in these segments.

Which property types are becoming harder to rent in Fes, and in which neighborhoods?

The property types becoming harder to rent in Fes are overpriced 3-bedroom apartments, poorly maintained older central apartments, and villa-style or riad-style properties marketed as simple residential rentals.

The dataset shows that 3-bedroom net yields are usually lower than 1-bedroom and 2-bedroom yields. Across the selected neighborhoods, most 3-bedroom net yields sit around 5.0% to 5.8%, except Champ de Course at 6.2%.

In Bourmana, Hay Moulay El Kamel, Hay Atlas, and Hay Massira, 3-bedroom units look less attractive because rents do not rise enough to offset higher purchase prices and maintenance costs.

Older central apartments can also be harder to rent if they lack modern features. Tenants in Fes compare practical comfort, including elevator access, sunlight, plumbing, parking, security, and furnished quality.

Villas and riads are harder for beginners because they are operationally heavier. Villas need more repairs and exterior care, while riads often depend on tourism-style management rather than simple residential tenants.

The beginner rule is to negotiate harder on large properties and avoid them unless the tenant profile is already proven.

Which bedroom count offers the best balance between entry price, rental yield, and tenant demand in Fes?

The best bedroom count for a beginner investor in Fes is the 2-bedroom apartment.

The 2-bedroom format has the best balance of entry price, rent level, tenant demand, and resale liquidity. It appeals to couples, small families, sharers, students with family support, and professionals.

The best 2-bedroom areas are particularly strong. Ain Amiyer and Champ de Course both reach around 6.5% net yield, Nouvelle Ville reaches 6.4%, and Riad reaches 6.2%.

A 1-bedroom is useful where small-unit demand is clear, especially Nouvelle Ville, Ain Amiyer, Agdal, and Fes City Center. The lower entry price helps, but the tenant base can be narrower.

A 3-bedroom offers higher absolute rent but weaker efficiency. Larger properties usually need family tenants and can carry heavier maintenance and longer vacancy risk.

For Fes, the practical conclusion is simple: buy the best 2-bedroom apartment you can afford in a liquid neighborhood, rather than stretching for a large unit or chasing cheap outer stock.

Who is the author of this content?

SANDS OF WEALTH

A team specialized in real estate investing in MENA countries (Morocco, UAE, Oman, etc.)

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Fes. If you’d like to learn more about us, you can check our presentation page.