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Casablanca's residential property market continues to show strong growth momentum in 2025.
The city's property prices have grown 3-7% annually over the past five years, with premium neighborhoods like Anfa commanding over 24,000 MAD per square meter. Rising demand from both domestic and foreign buyers, coupled with major infrastructure projects and World Cup preparations, positions Casablanca for continued price appreciation through 2028.
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Casablanca's residential market shows robust fundamentals with 3-7% annual price growth and strong rental yields of 6.5-7% for apartments.
Foreign investor participation has grown over 50% since 2020, representing 10-15% of total transactions, while the city's population is projected to reach 5.3 million by 2030.
| Metric | Current Value | Forecast/Trend |
|---|---|---|
| Annual Price Growth | 3-7% (2020-2025) | 3-7% expected (2025-2028) |
| Average Price per m² | 11,661 MAD citywide | Continued growth above national average |
| Rental Yields | 6.5-7% apartments, 5.5-6% villas | Stable with slight compression |
| Foreign Investment Share | 10-15% of transactions | Growing, especially in luxury segment |
| Population Projection | Current ~4.3 million | 5.3 million by 2030 |
| Time on Market | 3-5 months average | Faster than regional benchmarks |
| Vacancy Rates | 6-8% residential | Healthy demand-supply balance |
What has been the average annual growth rate of residential property prices in Casablanca over the past five years, and what is the current price per square meter in the main neighborhoods?
Casablanca's residential property market has delivered solid returns with annual growth rates ranging from 3% to 7% over the past five years.
Premium neighborhoods have consistently outperformed the city average, with areas like Anfa and Ain Diab leading price appreciation. The citywide average for apartments reached approximately 11,661 MAD per square meter as of 2024.
Current pricing by neighborhood shows significant variation across Casablanca's districts. Anfa commands the highest prices at over 24,000 MAD per square meter, reflecting its status as a premium residential area. Ain Diab follows closely with prices ranging from 20,000 to 27,000 MAD per square meter, benefiting from its coastal location and upscale amenities.
Mid-tier neighborhoods like Maarif and Gauthier offer more accessible pricing at 13,900 to 15,000 MAD per square meter, making them attractive for middle-class buyers and investors seeking balanced rental yields. Meanwhile, areas like Hay Mohammadi have seen price stagnation at around 8,600 MAD per square meter.
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How do supply and demand currently balance in Casablanca's housing market, in terms of the number of new units built each year versus the number of transactions?
Casablanca's housing market remains undersupplied, with new construction failing to keep pace with growing demand.
As of 2024, new residential developments increased by 10% compared to 2023, while property sales in central districts rose by 5%. This gap between supply growth and transaction volume indicates continued market tightness that supports price appreciation.
The supply shortage stems from several factors including regulatory constraints, land availability in prime areas, and construction costs. Urban migration continues to drive demand as people move to Casablanca for employment opportunities, while the growing middle class seeks homeownership.
Foreign investment has added another layer of demand pressure, with international buyers competing for quality properties in desirable neighborhoods. New development projects, while increasing, primarily focus on luxury and mid-range segments, leaving gaps in affordable housing supply.
This supply-demand imbalance creates favorable conditions for property owners and explains why Casablanca consistently outperforms other Moroccan cities in price appreciation.
What is the forecasted trend for residential property prices over the next three years, in percentage terms, and how does this compare to Morocco's national average?
Casablanca residential property prices are forecast to grow 3-7% annually from 2025 through 2028, outpacing Morocco's national average.
Several key drivers support this growth trajectory including World Cup preparations, major infrastructure investments, and continued urbanization. The city's economic importance and job creation attract both residents and investors, maintaining upward pressure on prices.
Morocco's national residential price growth is expected to average 3-4% annually during the same period, making Casablanca's performance notably stronger. This premium reflects the city's role as the economic capital and its superior infrastructure development compared to other Moroccan cities.
Premium neighborhoods may see even higher appreciation rates, particularly areas benefiting from new infrastructure projects like improved tram connections and World Cup stadium developments. However, affordability challenges may moderate growth in some segments as prices outpace wage growth.
Investors should expect continued outperformance relative to national averages, though the pace may moderate slightly from the higher end of the historical range as the market matures.
How are mortgage interest rates in Morocco evolving, and what impact do they have on affordability and buyer activity in Casablanca?
Mortgage interest rates in Morocco have remained relatively stable in 2025, typically ranging from 5.5% to 7.3% for qualified home buyers.
This stability supports sustained buyer activity, though affordability remains challenged by moderate wage growth combined with rising property prices. Banks continue offering competitive lending promotions, but these primarily benefit well-qualified borrowers with strong credit profiles and substantial down payments.
The stable rate environment enables buyers to plan purchases with more certainty compared to markets experiencing significant rate volatility. However, the absolute level of rates, combined with higher property prices, means monthly mortgage payments have increased substantially over recent years.
For first-time buyers, the affordability challenge is most acute in premium neighborhoods where prices have grown fastest. Middle-income buyers increasingly look to emerging neighborhoods or consider smaller properties to enter the market.
Banks have responded by extending loan terms and offering more flexible payment structures, though lending standards remain conservative following global financial market lessons from previous decades.
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What is the current rental yield in Casablanca for apartments and villas, and how has it changed over the last five years?
Casablanca currently offers average rental yields of 6.5-7% for apartments and 5.5-6% for villas, making it competitive among emerging markets.
| Property Type | Current Yield (2025) | 5-Year Range |
|---|---|---|
| Apartments | 6.5-7% | 5-8% |
| Villas | 5.5-6% | 4.5-7% |
| Premium Properties | 4.5-5.5% | 4-6% |
| Mid-range Apartments | 7-8% | 6-9% |
| Emerging Areas | 8-9% | 7-10% |
How many foreign investors are entering Casablanca's property market annually, and what percentage of total property transactions do they represent?
Foreign investor participation in Casablanca's property market has grown dramatically, increasing by over 50% since 2020.
As of 2025, foreign investors represent approximately 10-15% of total property transactions in Casablanca, with particularly strong activity in luxury and new development segments. This represents a significant increase from historical levels below 8%.
The growth comes from diverse sources including Gulf investors, European buyers seeking vacation homes, and North American diaspora investment. Foreign buyers particularly favor premium neighborhoods like Anfa and Ain Diab, as well as new luxury developments offering modern amenities.
Government initiatives to attract foreign investment, including streamlined property purchase processes and residency programs, have contributed to this growth. Foreign currency strength relative to the Moroccan dirham has also made properties more attractive to international buyers.
This foreign investment influx provides market liquidity and supports price appreciation, though it may contribute to affordability challenges for local buyers in premium segments.
What is the projected population growth of Casablanca by 2030, and how is this expected to influence housing demand?
Casablanca's population is projected to reach 5.3 million by 2030, up from approximately 4.3 million currently, representing significant growth pressure on housing demand.
This population expansion aligns with Morocco's broader urbanization trend, with the national urbanization rate expected to reach 67.8% by 2030. The growth stems from both natural increase and continued rural-to-urban migration as people seek economic opportunities in Morocco's commercial capital.
The demographic expansion will intensify housing demand across all segments, but particularly for affordable and middle-income housing units. Young professionals and families moving to Casablanca for employment will drive demand for apartments and smaller properties in well-connected neighborhoods.
This population growth supports long-term property appreciation and rental demand, making Casablanca attractive for both residential investors and developers. However, it also highlights the urgency of addressing supply constraints to prevent affordability from deteriorating further.
Infrastructure development will be crucial to accommodate this growth while maintaining livability standards across the metropolitan area.
How many large-scale infrastructure or urban development projects are planned or underway in Casablanca, and how might they affect property values in different districts?
Casablanca has multiple major infrastructure projects underway that are driving property value premiums of 10-15% in adjacent districts.
Key projects include new tram line extensions improving connectivity across the city, World Cup stadium developments that will enhance specific neighborhoods, and luxury commercial hubs being developed in areas like Maarif and Anfa. These projects create both immediate construction activity and long-term accessibility improvements.
The expanded tram network particularly benefits previously underserved areas by improving access to employment centers and commercial districts. Properties within walking distance of new tram stations typically see immediate value increases as transportation convenience becomes a major selling point.
World Cup infrastructure investments extend beyond stadiums to include road improvements, utility upgrades, and public space enhancements that benefit entire districts. Areas like Ain Diab are experiencing substantial infrastructure improvements that support premium pricing.
It's something we develop in our Morocco property pack.
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 is the average time properties stay on the market before being sold, and how does that compare to the regional and national benchmarks?
Properties in Casablanca sell relatively quickly, with an average time on market of 3-5 months, significantly faster than regional and national benchmarks.
This compares favorably to other Moroccan cities where properties typically remain on the market for 4-8 months. Central Casablanca districts often see even faster sales due to high demand from both owner-occupiers and investors.
The faster sales cycle reflects strong underlying demand and Casablanca's position as Morocco's economic center. Well-priced properties in desirable neighborhoods can sell within weeks, particularly if they offer good value or unique features.
Premium properties may take longer to sell due to their higher price points and smaller buyer pool, but still move faster than comparable properties in other Moroccan markets. New developments with modern amenities tend to sell particularly quickly when priced competitively.
This relatively quick absorption rate indicates healthy market fundamentals and suggests continued strength in buyer demand across multiple segments.
What percentage of transactions are cash purchases versus financed through mortgages in Casablanca, and how has this ratio shifted in recent years?
Approximately 55% of Casablanca property transactions are financed through mortgages, while 45% are cash purchases as of 2025.
This represents a shift from previous years when cash purchases dominated the market. The increased use of mortgage financing reflects greater buyer confidence in the banking system, improved lending conditions, and the growing middle class's need for financing to afford higher property prices.
Foreign buyers and high-net-worth individuals still frequently use cash, particularly for luxury properties and investment purchases. However, local buyers increasingly rely on mortgage financing as property prices have outpaced savings growth.
Banks have responded to increased demand by offering more competitive rates and flexible terms, though lending standards remain conservative. The shift toward more mortgage-financed transactions indicates a maturing real estate market with broader access to property ownership.
This financing pattern supports market liquidity and enables more buyers to participate, contributing to sustained demand and price appreciation.
How have government regulations, taxes, or incentives related to real estate changed in the past two years, and what quantitative effect are they expected to have on the market?
Recent government initiatives include incentives for energy-efficient and affordable housing development, along with tax reforms targeting developers and buyers.
The government has introduced tax breaks for developers building affordable housing units and energy-efficient properties, aimed at addressing supply shortages in lower-income segments. These incentives are expected to increase affordable housing supply by 15-20% over the next three years.
New buyer incentives include reduced transfer taxes for first-time homebuyers and streamlined approval processes for foreign investors. While these measures haven't dramatically reduced end-buyer costs, they're expected to boost transaction volumes by 8-12% annually.
Regulatory changes also include updated building codes emphasizing sustainability and earthquake resistance, which may increase construction costs but improve long-term property values. Foreign investment facilitation measures have contributed to the 50% increase in international buyer activity.
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What are the vacancy rates for residential and commercial properties in Casablanca, and what do these figures suggest about market saturation or growth opportunities?
Casablanca maintains relatively healthy vacancy rates with residential properties at 6-8% citywide and commercial properties at 9-12% depending on district.
The residential vacancy rate indicates strong demand absorption and suggests the market is not oversaturated. Well-located apartments in established neighborhoods typically show even lower vacancy rates, often below 5%, reflecting sustained rental demand.
Commercial property vacancy varies significantly by area, with newly built business zones showing higher rates around 12% while established commercial districts maintain rates closer to 9%. This suggests selective oversupply in some commercial segments but healthy overall absorption.
These figures point to continued growth opportunities, particularly in residential segments and well-located commercial properties. The low residential vacancy rate supports rental yield stability and indicates underlying housing demand remains strong.
New development should focus on areas with the lowest vacancy rates and strongest demand fundamentals to ensure successful absorption and maintain market health.
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.
Casablanca's property market shows strong fundamentals with consistent growth potential through 2028.
The combination of population growth, infrastructure investment, and foreign buyer interest supports continued price appreciation, though supply constraints may moderate growth in some segments.
Sources
- Casablanca Price Forecasts - Sands of Wealth
- Morocco Rental Yields - Global Property Guide
- Casablanca Property Market - Sands of Wealth
- Morocco Real Estate Forecasts - Sands of Wealth
- Casablanca Real Estate Prices by Neighborhood - Statista
- Morocco Market Study - Reall
- Morocco House Price Growth - CEIC Data
- Morocco Residential Real Estate Outlook - Statista
- Morocco Real Estate Guide 2025 - Chambers
- Morocco Real Estate Market Analysis - International Investment