Dubai / Marrakech comparison

The same all-in capital is placed on both markets, over five or ten years. That capital pays the price and the entry costs, so the property bought is smaller where the costs are heavier: about 6.5% in Marrakech, a 4% transfer fee plus a fixed registration charge in Dubai. Each year produces gross income, from which charges and rental tax are removed.

On exit, the property is revalued at the growth rate chosen, resale costs are deducted, then capital gains tax: 20% in Morocco, with the minimum levy of 3% of the sale price where that is higher; nothing in Dubai, which taxes neither rent nor gains. Total return adds the income collected to the net proceeds of the sale, measured against the capital; the annualised figure reduces it to a rate per year.

The comparison has no predetermined winner, and the market assumptions are yours: gross yield, price growth and charges are set market by market. Two things are not priced here and still weigh heavily: the tax rules of your country of residence, which may take with one hand what Dubai does not, and resale liquidity, which differs sharply between the two markets.