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Marrakech property prices average 13,000 MAD per square meter for apartments in central areas and reach 25,000-30,000 MAD per square meter for luxury villas in prime neighborhoods like Palmeraie. As of September 2025, the Marrakech real estate market shows strong growth with luxury properties appreciating 11-15% annually while budget options remain accessible starting from 6,000 MAD per square meter in emerging areas.
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Marrakech property prices range from 6,000 MAD/m² in budget areas to 30,000+ MAD/m² for luxury villas, with central apartments averaging 13,000-16,000 MAD/m².
Palmeraie and Hivernage represent the most expensive neighborhoods while Agdal and Targa offer excellent value for emerging investors.
| Property Type | Average Price per m² (MAD) | Total Price Range | Best Locations |
|---|---|---|---|
| Apartments | 13,000-16,000 | 1.2-2.5 million | Gueliz, Hivernage |
| Luxury Villas | 20,000-30,000+ | 4-8 million+ | Palmeraie, Golf City |
| Traditional Riads | 12,000-15,000 | 1.6-5.4 million | Medina |
| Suburban Properties | 8,000-12,000 | 600k-1.2 million | Agdal, Targa |
| Budget Options | 6,000-9,000 | 300k-800k | Route d'Ourika, Tamansourt |
What's the current average property price in Marrakech?
The current average property price in Marrakech varies significantly by location and property type, with central apartments averaging 13,000-16,000 MAD per square meter as of September 2025.
Apartments in prime areas like Gueliz and Hivernage command prices around 13,000 MAD per square meter, with luxury modern units reaching up to 16,000 MAD per square meter. These neighborhoods offer the best amenities and infrastructure for both residents and investors.
Luxury villas in prestigious areas like Palmeraie and Golf City range from 20,700 MAD to over 30,000 MAD per square meter, representing the top tier of the Marrakech property market. These properties typically feature pools, gardens, and premium finishes that appeal to high-net-worth buyers.
Traditional riads in the Medina cost between 12,000-15,000 MAD per square meter for restored properties, with total prices ranging from 1.6 to 5.4 million MAD depending on size and condition. The restoration quality and location within the Medina significantly impact pricing.
Budget-conscious buyers can find opportunities in emerging areas like Route d'Ourika and Tamansourt, where prices start from 6,000-9,000 MAD per square meter.
How do prices differ depending on the type of property, like apartments, villas, or riads?
Property prices in Marrakech show distinct patterns across different property types, with luxury villas commanding the highest prices per square meter followed by restored riads and modern apartments.
| Property Type | Price Range (MAD/m²) | Total Price Range | Key Features |
|---|---|---|---|
| Modern Apartments | 8,000-16,000 | 600k-2.5 million | Amenities, security, parking |
| Luxury Villas | 20,000-30,000+ | 4-15 million+ | Pools, gardens, prestige locations |
| Traditional Riads | 12,000-15,000 | 1.6-5.4 million | Historic charm, renovation level varies |
| Suburban Villas | 10,000-18,000 | 1.5-4 million | Space, family-friendly, growing areas |
| Budget Properties | 5,000-10,000 | 300k-1 million | Entry-level, renovation opportunities |
Which neighborhoods are the most expensive, which ones are considered up-and-coming, and which areas are the most budget friendly?
Marrakech's property market is clearly segmented by neighborhood, with Palmeraie and Hivernage representing the luxury segment while emerging areas like Agdal offer excellent growth potential.
The most expensive neighborhoods include Palmeraie, where prestigious villas and luxury resorts command prices reaching 3,000-5,000 EUR per square meter. Hivernage and Gueliz follow closely with modern amenities and vibrant urban lifestyle, pricing at 1,800-3,200 EUR per square meter. Amelkis and Golf City offer gated communities and golf-side villas at 2,500-4,000 EUR per square meter.
Up-and-coming areas present excellent investment opportunities with strong growth potential. Agdal features modern developments and growing infrastructure with prices at 1,200-2,200 EUR per square meter, offering good yields for new builds. Targa provides spacious, family-friendly options with more affordable villas and apartments at 900-1,600 EUR per square meter. Route de l'Ourika stands out for excellent value with high projected rental yields and growth potential.
Budget-friendly neighborhoods cater to entry-level buyers and renovation projects. Medina outskirts offer budget riads and apartments at 550-1,200 EUR per square meter. Areas like Tamansourt, Mhamid, Mellah, and Kasbah provide the cheapest options, ideal for investors seeking renovation projects and strong growth potential.
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What are the average prices per square meter in different areas?
Marrakech property prices per square meter vary dramatically across different neighborhoods, reflecting the city's diverse real estate landscape and investment opportunities.
| Neighborhood | Apartments (MAD/m²) | Villas (MAD/m²) | Market Characteristics |
|---|---|---|---|
| Gueliz | 13,000-16,000 | N/A | Modern, urban, excellent amenities |
| Hivernage | 13,000-16,178 | N/A | Luxury, city center, tourism hub |
| Palmeraie | N/A | 25,000-30,000 | Most expensive, highest appreciation |
| Medina | 12,000-15,000 | N/A | Historic riads, restoration required |
| Agdal/Targa | 8,000-12,000 | 12,000-18,000 | Up-and-coming, affordable growth |
| Route d'Ourika | 6,000-9,000 | 8,000-12,000 | Investment focus, high yields |
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Can you give some real-life examples of recent purchase prices for typical properties?
Recent property transactions in Marrakech demonstrate the wide range of investment opportunities available across different budget levels and property types.
Two-bedroom apartments in Gueliz typically sell for 170,000-250,000 EUR, covering 80-120 square meters with modern amenities and prime location benefits. These properties appeal to both residents and rental investors due to their central location and contemporary features.
Luxury villas in Palmeraie command premium prices ranging from 1,200,000-4,000,000 EUR for properties spanning 400-800 square meters. These estates feature pools, landscaped gardens, and prestigious addresses that attract high-net-worth buyers seeking luxury lifestyle or investment properties.
Restored riads in the Medina sell for 260,000-600,000 EUR typically covering 120-250 square meters, offering authentic Moroccan architecture and tourism rental potential. The restoration quality and exact location within the Medina significantly influence final pricing.
Budget apartments in Tamansourt provide entry-level opportunities at 27,000-70,000 EUR for 40-60 square meter units, perfect for first-time buyers or investors seeking affordable rental properties. Family villas in Targa range from 180,000-410,000 EUR for 180-220 square meter properties, offering excellent value for families and long-term investors.
How much should buyers expect to pay in total once you add in fees, notary costs, and taxes?
Property buyers in Marrakech should budget an additional 7-10% above the purchase price to cover all mandatory fees, taxes, and professional services required for property acquisition.
Registration tax represents the largest additional cost at 4% of the property value, paid directly to the Moroccan government during the transfer process. Notary fees range from 1-2.5% of the sale price, covering legal documentation and official registration procedures.
Additional costs include stamp duty at approximately 1% of the purchase price, land registry fees at 1%, and optional legal fees around 1% if buyers choose independent legal representation. Real estate agent commissions typically range from 2.5-3% of the transaction value.
For a typical 2 million MAD apartment purchase, buyers should expect total additional costs of 140,000-200,000 MAD beyond the listed price. These costs are non-negotiable and must be paid in cash during the closing process, making proper budgeting essential for successful property acquisition.
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What financing and mortgage options are usually available for buyers in Marrakech?
Mortgage financing is available to both Moroccan residents and foreign buyers in Marrakech through major local banks, with competitive rates and reasonable terms for qualified applicants.
Local mortgages require down payments of 20-30% of the property value, with loan terms extending up to 20 years for most borrowers. Interest rates as of September 2025 range from 4.5-6% for fixed-rate mortgages and 3.75-5% for variable-rate options, depending on the borrower's profile and chosen bank.
Major Moroccan banks offering property financing include Attijariwafa Bank, BMCE Bank, CIH Bank, and Crédit du Maroc, each providing specialized services for foreign buyers. Most loans are denominated in Moroccan Dirhams, though some banks offer foreign currency options for select expatriate clients with appropriate income documentation.
Foreign buyers must demonstrate stable income, good credit history, and legal residency status or work permits to qualify for financing. The mortgage application process typically takes 4-8 weeks, requiring comprehensive financial documentation and property valuation reports.
Self-financing remains popular among international buyers, especially for smaller properties or investment purchases, avoiding currency exchange risks and simplifying the acquisition process.
If I plan to live there, what are the best property choices, and how do they differ from the best ones for renting out short term, long term, or buying to resell later?
Property selection in Marrakech depends heavily on your intended use, with different neighborhoods and property types optimized for living, rental income, or capital appreciation strategies.
For permanent residence, quality apartments or villas in Gueliz, Agdal, and Hivernage offer the best combination of modern amenities, safety, and expat-friendly infrastructure. These areas provide reliable utilities, international schools, healthcare facilities, and shopping centers essential for comfortable daily living.
Short-term rental investments perform best with restored riads in the Medina, luxury villas with pools in Palmeraie, and premium apartments in Hivernage. These properties attract tourist traffic and command higher nightly rates, generating rental yields of 8-12% annually with proper management.
Long-term rental strategies work well with apartments and villas in Agdal, Gueliz, and Targa, where stable demand from locals and expatriates ensures consistent occupancy. These areas offer affordable price growth and good yields of 6-10% annually with lower management requirements than short-term rentals.
For resale investments, luxury properties in Palmeraie, Golf City, or modern penthouses in Hivernage and Gueliz retain scarcity value and see the highest capital appreciation of 11-15% yearly. These premium properties maintain liquidity and attract affluent buyers seeking prestigious addresses.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Morocco versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the smartest investment choices in Marrakech property right now?
The smartest Marrakech property investments in 2025 focus on emerging suburban areas, luxury segments, and tourism-driven properties that benefit from infrastructure development and growing international demand.
Suburban villas and townhouses in Agdal, Targa, and Route d'Ourika represent excellent opportunities with lower entry prices, high rental yields of 8-14%, and strong growth potential from infrastructure improvements and World Cup 2030 preparation projects. These areas offer the best risk-adjusted returns for most investors.
Luxury villas and estates in Palmeraie, Golf City, and Amelkis continue delivering the highest appreciation rates, strongest liquidity, and premium rental demand from affluent buyers. These properties serve as safe-haven assets with consistent 11-15% annual appreciation and excellent resale potential.
Renovation riads in the Medina offer tourism-driven short-term rental opportunities that can yield 8-12% or higher, though they require active management and renovation expertise. The growing tourism sector supports strong demand for authentic Moroccan accommodation experiences.
Modern apartments in Gueliz and Hivernage provide excellent liquidity, stable returns, and strong resale value, making them ideal for conservative investors seeking reliable income and capital preservation. These properties appeal to both local and international renters.
How have prices changed compared to one year ago and five years ago?
Marrakech property prices have shown consistent upward momentum over both short-term and long-term periods, with luxury segments significantly outperforming the overall market.
Compared to one year ago, overall prices increased 3-7%, with apartments rising 2-3% and luxury villas appreciating 11-15%. This growth reflects continued foreign investment, tourism recovery, and infrastructure development supporting market confidence.
Five-year price comparisons reveal substantial market appreciation since 2020, when average apartment prices in central areas were approximately 10,500 MAD per square meter and luxury villas averaged around 18,000 MAD per square meter. Current prices represent compound annual growth of 6-12% for prime sectors over this period.
Long-term growth has been driven by increasing foreign demand, tourism recovery post-pandemic, ongoing infrastructure upgrades, and Marrakech's growing reputation as a luxury destination. Luxury segments and tourism-related properties experienced the fastest growth, especially during the post-pandemic rebound period.
The market demonstrates resilience and sustained growth trends, with premium properties consistently outperforming budget segments due to scarcity, international appeal, and superior infrastructure access.
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What's the forecast for prices over the next one, five, and ten years?
Marrakech property price forecasts remain optimistic across all timeframes, supported by infrastructure investment, tourism growth, and Morocco's 2030 World Cup hosting plans.
One-year projections for 2026 indicate continued growth of 3-7% for most neighborhoods, with prime luxury segments potentially achieving 8-10% appreciation. This growth reflects ongoing infrastructure projects and sustained international investor interest in Marrakech properties.
Five-year forecasts from 2025-2030 project total growth of 20-35% for top trending areas and luxury segments. Major infrastructure developments including rail connections and World Cup 2030 preparations will further stimulate property values, especially in emerging zones that benefit from improved connectivity.
Ten-year outlook remains positive assuming continued political and economic stability, with Marrakech expected to maintain its position as a leading African luxury and tourism market. Suburban areas may outpace city center growth as infrastructure expansion makes these locations more accessible and desirable.
The forecast assumes continued tourism growth, foreign investment flows, and successful completion of major infrastructure projects that will enhance Marrakech's appeal to international buyers and residents.
How do property prices in Marrakech compare with other similar international cities?
Marrakech property prices remain competitively positioned compared to similar international tourism and luxury destinations, offering superior value and yield potential.
| City | Apartments (Price/m²) | Luxury Villas (Price/m²) | Market Characteristics |
|---|---|---|---|
| Marrakech | €1,200-1,500 | €1,900-2,800 | High tourism yields, growing market |
| Casablanca | €1,350 | €1,900 | Business focus, stable demand |
| Lisbon | €3,000-6,000 | €4,000-10,000 | More expensive, lower yields |
| Istanbul | €1,900-3,500 | Variable | Cheaper entry, more volatile |
| Cape Town | €1,300-2,800 | €2,800-6,000 | Similar yields, political risks |
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Marrakech offers exceptional value for international property investors, with prices significantly below comparable European cities while delivering superior rental yields and appreciation potential.
The optimal investment window appears to be 2025-2027, leveraging infrastructure development and tourism growth while avoiding the premium pricing expected after major projects complete.
Sources
- Marrakech Price Forecasts - Sands of Wealth
- Morocco Real Estate Prices - Agenz
- Marrakech Real Estate Market Trends - Sands of Wealth
- Luxury Real Estate Marrakech - Sands of Wealth
- Marrakech Neighborhoods Guide - Orchid Island
- Morocco Property Taxes and Costs - Global Property Guide
- Morocco Mortgage Guide for Foreigners - Properties Morocco
- Morocco Real Estate Forecasts - Sands of Wealth