Authored by the expert who managed and guided the team behind the Morocco Property Pack
Yes, the analysis of Fes' property market is included in our pack
This blog post covers the current housing prices in Fes, Morocco, as of January 2026.
We constantly update this article with the latest data from authoritative sources to keep you informed.
Whether you're looking to buy an apartment in Nouvelle Ville or a traditional riad in the medina, you'll find the numbers you need here.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Fes.
Insights
- A typical 100 sqm apartment in Fes costs around 658,000 MAD (about $72,000), making it one of Morocco's most affordable imperial cities for property buyers in 2026.
- The price gap between asking and final sale price in Fes typically ranges from 6% to 10%, so buyers should always negotiate.
- Newer apartments with elevators and parking in Fes command an 8% to 15% premium over older units of the same size in the same neighborhood.
- Fes City Center apartments average 8,049 MAD per sqm, while Oulad Tayeb offers entry-level options at around 5,551 MAD per sqm.
- About 65% of Fes residential listings are apartments, with villas making up 20% and traditional riads around 10% of the market.
- When you factor in taxes, notary fees, and registration duties, expect to add 8% to 12% on top of your agreed purchase price in Fes.
- Inflation-adjusted property prices in Fes have stayed roughly flat over the past year, even though nominal prices rose 1% to 3%.
- A fully renovated boutique riad in Fes can cost between 2.5 million and 6 million MAD ($274,000 to $658,000), depending on size and finish quality.
- Expats looking for convenience often choose Nouvelle Ville, where apartments range from 6,200 to 7,900 MAD per sqm.
- Over the past 10 years, Fes property prices have risen 15% to 30% nominally, but only 0% to 10% when adjusted for inflation.
What is the average housing price in Fes in 2026?
The median housing price is more useful than the average in Fes because large villas and high-end riads pull the average up, while the median shows what a typical buyer actually pays.
We are writing this as of January 2026 using the latest data collected from authoritative sources like Agenz, Bank Al-Maghrib, and ANCFCC, all of which we manually double-checked.
The median housing price in Fes in 2026 is approximately 658,000 MAD, which converts to about $72,200 or around 61,200 euros. The average housing price in Fes in 2026 is higher at roughly 900,000 MAD, equal to about $98,800 or approximately 83,800 euros.
In Fes in 2026, about 80% of residential properties fall within a price range of 450,000 to 1,500,000 MAD (roughly $49,000 to $165,000 or 42,000 to 140,000 euros).
A realistic entry-level property in Fes in 2026 costs between 300,000 and 420,000 MAD ($33,000 to $46,000 or 28,000 to 39,000 euros), which typically gets you an existing 55 sqm apartment in an area like Oulad Tayeb.
Luxury properties in the Fes market in 2026 typically range from 3,500,000 to 6,500,000 MAD ($384,000 to $713,000 or 326,000 to 605,000 euros), and this budget would get you a 300 sqm renovated villa in Nouvelle Ville or Agdal.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Fes.
Are Fes property listing prices close to the actual sale price in 2026?
In the Fes property market in 2026, buyers typically negotiate the final price down by 6% to 10% below the asking price.
This gap exists mainly because sellers in Fes often set optimistic asking prices to leave room for negotiation, which is a deeply rooted cultural practice in Moroccan real estate. The discount tends to be larger for properties that need renovation or have unclear title documentation, while well-maintained homes with clean legal status see smaller gaps.
Get fresh and reliable information about the market in Fes
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What is the price per sq m or per sq ft for properties in Fes in 2026?
As of January 2026, apartments in Fes average around 6,578 MAD per sqm ($722 or 612 euros per sqm), which works out to about 611 MAD per sqft ($67 or 57 euros per sqft). Villas in Fes average higher at 7,667 MAD per sqm ($841 or 713 euros per sqm), equal to roughly 712 MAD per sqft ($78 or 66 euros per sqft).
In Fes in 2026, smaller units like studios in convenient central locations have the highest price per sqm because of strong demand and easy resale, while very large homes needing renovation in less central areas have the lowest price per sqm.
In Fes in 2026, you would find the highest prices per sqm in Fes City Center (around 7,000 to 9,000 MAD per sqm) and Nouvelle Ville for villas (up to 9,371 MAD per sqm). The lowest prices per sqm are in areas like Oulad Tayeb (around 4,900 to 6,200 MAD per sqm) and Zouagha (5,400 to 6,800 MAD per sqm).
How have property prices evolved in Fes?
Compared to one year ago, property prices in Fes have risen by roughly 1% to 3% in nominal terms as of January 2026. However, when you adjust for inflation, prices have stayed roughly flat or even slightly declined because consumer prices rose at a similar pace.
Over the past ten years, Fes property prices have increased by an estimated 15% to 30% in nominal terms. The main drivers have been infrastructure improvements in newer areas like Nouvelle Ville and a growing preference for modern apartments with parking and elevators, though inflation-adjusted gains are much more modest at 0% to 10%.
By the way, we've written a blog article detailing the latest updates on property price variations in Fes.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Fes.
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.
How do prices vary by housing type in Fes in 2026?
In the Fes property market in 2026, apartments make up about 65% of listings, villas and houses account for around 20%, traditional riads represent about 10%, and premium units like duplexes or penthouses cover the remaining 5%.
In Fes as of January 2026, a standard 100 sqm apartment costs around 658,000 MAD ($72,000 or 61,000 euros), while a smaller 60 sqm apartment runs about 395,000 MAD ($43,000 or 37,000 euros). A 180 sqm family villa typically costs around 1,380,000 MAD ($151,000 or 128,000 euros). Traditional riads vary widely: one needing renovation might cost 900,000 to 1,600,000 MAD ($99,000 to $176,000), while a fully renovated boutique riad can range from 2,500,000 to 6,000,000 MAD ($274,000 to $658,000).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Fes in 2026?
In Fes in 2026, newer residential buildings typically cost 8% to 15% more than comparable existing homes in the same neighborhood.
This premium exists because newer constructions in Fes often include features buyers value highly, such as elevators, dedicated parking, better insulation, and modern security systems, while older buildings carry the risk of future repair costs for plumbing, wiring, or structural issues.
Buying real estate in Fes can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Fes in 2026?
Nouvelle Ville is one of the most popular areas for expats and professionals in Fes, offering modern apartment buildings, cafes, and easy daily services. Apartments here range from 650,000 to 2,000,000 MAD ($71,000 to $219,000 or 60,000 to 186,000 euros), with villas starting around 9,000 MAD per sqm because of high demand for this convenient, well-serviced area.
Agdal is a quieter, more residential neighborhood in Fes favored by families seeking space and greenery. Prices for apartments average around 7,573 MAD per sqm, with family villas typically costing 1,300,000 to 2,500,000 MAD ($143,000 to $274,000 or 121,000 to 233,000 euros), reflecting the premium for larger plots and established surroundings.
Oulad Tayeb offers some of the most affordable property in Fes, making it attractive for first-time buyers or those seeking value. Apartments here average around 5,551 MAD per sqm, with total prices ranging from 350,000 to 750,000 MAD ($38,000 to $82,000 or 33,000 to 70,000 euros), though you trade off some distance from central amenities.
You will find a much more detailed analysis by areas in our property pack about Fes. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range (MAD / $) | Avg per sqm (MAD / $) | Avg per sqft (MAD / $) |
|---|---|---|---|---|
| Oulad Tayeb | Value / Space | 350k - 750k / $38k - $82k | 4,900 - 6,200 / $538 - $680 | 455 - 576 / $50 - $63 |
| Zouagha | Value / Family | 380k - 900k / $42k - $99k | 5,400 - 6,800 / $592 - $746 | 502 - 632 / $55 - $69 |
| El Mariniyine | Budget to Mid-range | 420k - 1M / $46k - $110k | 5,900 - 7,500 / $647 - $823 | 548 - 697 / $60 - $77 |
| Hay Massira | Mainstream | 450k - 1.1M / $49k - $121k | 5,600 - 7,100 / $614 - $779 | 520 - 660 / $57 - $72 |
| Hay Al Azhar | Mainstream | 450k - 1.1M / $49k - $121k | 5,600 - 7,200 / $614 - $790 | 520 - 669 / $57 - $73 |
| Oued Fes | Mainstream | 450k - 1.2M / $49k - $132k | 5,700 - 7,300 / $625 - $801 | 530 - 678 / $58 - $74 |
| Hay Jdid | Mainstream | 470k - 1.2M / $52k - $132k | 5,800 - 7,400 / $636 - $812 | 539 - 688 / $59 - $75 |
| Riad | Character / High Variance | 600k - 2.5M / $66k - $274k | 6,200 - 7,800 / $680 - $856 | 576 - 725 / $63 - $80 |
| Mourabitine | Commute / Central | 550k - 1.4M / $60k - $154k | 6,400 - 8,000 / $702 - $878 | 595 - 743 / $65 - $82 |
| Bourmana | Space / Mixed | 520k - 1.3M / $57k - $143k | 6,300 - 7,900 / $691 - $867 | 585 - 734 / $64 - $81 |
| Nouvelle Ville | Expat-friendly / Amenities | 650k - 2M / $71k - $219k | 6,200 - 7,900 / $680 - $867 | 576 - 734 / $63 - $81 |
| Fes City Center | Central / Premium | 650k - 2.2M / $71k - $241k | 7,000 - 9,000 / $768 - $988 | 650 - 836 / $71 - $92 |
How much more do you pay for properties in Fes when you include renovation work, taxes, and fees?
When buying property in Fes in 2026, you should budget an additional 8% to 12% on top of the purchase price to cover taxes, notary fees, and registration duties, plus more if renovation is needed.
If you buy a property for around $200,000 (about 1,820,000 MAD) in Fes, expect to pay roughly 145,000 to 220,000 MAD ($16,000 to $24,000) in additional fees and taxes. This brings your total to approximately 1,965,000 to 2,040,000 MAD ($216,000 to $224,000) before any renovation costs.
For a $500,000 property (about 4,560,000 MAD) in Fes, additional fees and taxes would run approximately 365,000 to 550,000 MAD ($40,000 to $60,000). If the property also needs medium renovation, add another 400,000 to 900,000 MAD ($44,000 to $99,000), bringing your all-in cost to roughly 5,325,000 to 6,010,000 MAD ($584,000 to $659,000).
At the $1,000,000 level (about 9,115,000 MAD) in Fes, expect 730,000 to 1,100,000 MAD ($80,000 to $121,000) in fees and taxes alone. For a property requiring heavy renovation, you might add 1,000,000 to 2,500,000 MAD ($110,000 to $274,000), potentially pushing your total investment to 10,845,000 to 12,715,000 MAD ($1,190,000 to $1,395,000).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Fes
| Expense | Category | Estimated Cost Range (MAD / $) |
|---|---|---|
| Registration / Transfer Duties | Taxes | Approximately 3% to 6% of the purchase price, depending on property type and buyer situation. For a 1,000,000 MAD property, this means 30,000 to 60,000 MAD ($3,300 to $6,600). Always confirm with your notary as rates can vary. |
| Land Registry and Title Filing | Fees | Usually around 1% to 2% of the property price. This covers ANCFCC registration and title transfer paperwork. For a 1,000,000 MAD home, expect 10,000 to 20,000 MAD ($1,100 to $2,200). |
| Notary Fees | Fees | Typically 1% to 1.5% of the purchase price plus VAT. Notaries in Fes handle the legal transfer and escrow. On a 1,000,000 MAD purchase, budget 10,000 to 15,000 MAD ($1,100 to $1,650) plus VAT. |
| Real Estate Agency Commission | Fees | If you use an agent, expect 2.5% to 5% of the sale price. This is negotiable and sometimes split between buyer and seller. On a 1,000,000 MAD property, that is 25,000 to 50,000 MAD ($2,750 to $5,500). |
| Light Renovation | Renovation | Around 800 to 1,500 MAD per sqm ($88 to $165 per sqm). This covers painting, minor repairs, and cosmetic updates. A 100 sqm apartment would cost 80,000 to 150,000 MAD ($8,800 to $16,500) for a light refresh. |
| Heavy Renovation | Renovation | Around 2,500 to 4,500 MAD per sqm ($274 to $494 per sqm). This includes full electrical and plumbing updates, new bathrooms, and structural work. A 150 sqm villa could run 375,000 to 675,000 MAD ($41,000 to $74,000). |
We made this infographic to show you how property prices in Morocco compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Fes in 2026 with different budgets?
With $100,000 (about 911,000 MAD) in Fes as of January 2026, you could buy an existing 110 sqm apartment in Hay Massira, an existing 95 sqm apartment in good condition in Hay Jdid, or an existing 85 sqm apartment in an older building in Mourabitine.
With $200,000 (about 1,823,000 MAD) in Fes, your options expand to a newer 130 sqm apartment with parking and elevator in Nouvelle Ville, an existing 170 sqm villa needing cosmetic updates in Zouagha, or a renovated 140 sqm apartment with higher finishes in Fes City Center.
With $300,000 (about 2,735,000 MAD) in Fes, you could purchase a 220 sqm villa in good condition in Agdal, a premium 170 sqm apartment with high finishes and parking in Nouvelle Ville, or a partly renovated 160 sqm riad in the Riad area with budget left for finishing work.
With $500,000 (about 4,557,000 MAD) in Fes, you could afford a renovated 300 sqm high-end villa in Nouvelle Ville, a large 350 sqm villa with strong finishes in Agdal, or a boutique-quality renovated 220 sqm riad in the Riad area that is ready to move into.
With $1,000,000 (about 9,115,000 MAD) in Fes, you enter the luxury market and could purchase a 500+ sqm villa with landscaped gardens in Agdal, a fully restored 350 sqm hospitality-grade riad in the Medina area, or a new-build 450 sqm luxury villa with top specifications in Nouvelle Ville.
With $2,000,000 (about 18,230,000 MAD), the Fes market becomes quite thin, but options exist for trophy properties such as an 800+ sqm villa estate in Agdal, a signature 600+ sqm fully restored luxury riad complex in the Medina, or an ultra-high-end 700 sqm villa with bespoke architecture in Nouvelle Ville.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Fes.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Fes, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Bank Al-Maghrib (Exchange Rates) | Morocco's central bank publishes official daily exchange rates used nationwide. | We used their end-December 2025 rates to convert all MAD prices to USD and EUR. We applied these rates consistently throughout the article for accurate comparisons. |
| Bank Al-Maghrib (Real Estate Price Index) | The official IPAI index is jointly produced with ANCFCC using a published methodology. | We used national price trends to estimate year-over-year and decade-long changes in Fes. We clearly labeled Fes-specific figures as estimates derived from this national data. |
| Agenz | A structured price reference combining public data, listings, and partner transactions with regular updates. | We used their Fes price-per-sqm data as our primary anchor for neighborhood pricing. We multiplied these figures by typical home sizes to calculate realistic total prices. |
| ANCFCC (Valeurs Venales) | The official land registry provides zone-based reference prices used for tax and registration purposes. | We used their data as a sanity check to verify our price ranges were realistic. We did not treat these as market prices since they serve a different official purpose. |
| HCP Morocco (Consumer Price Index) | Morocco's official statistics office publishes the standard inflation measure. | We used CPI data to calculate inflation-adjusted property price changes over time. We kept the adjustment simple and readable for non-professional readers. |
| Mubawab | One of Morocco's largest property listing portals with extensive Fes coverage. | We used their listings to estimate the breakdown of property types on the market. We also cross-referenced asking prices to validate ranges from other sources. |
| DGI Morocco (Registration Duties) | The official tax authority provides the legal framework for property transfer taxes. | We referenced their published rates to estimate buyer taxes and registration costs. We noted that actual rates vary by case and recommend confirming with a notary. |
| Sarouty | A reputable Moroccan property portal that publishes guides on buying costs. | We used their breakdown of agency fees and transaction costs as a reference. We combined this with official sources to create our expense table. |
| Local market observation | Direct analysis of current listings and market patterns provides real-time context. | We reviewed active listings across multiple portals to validate price ranges. We used this to estimate typical negotiation gaps and new vs existing premiums. |
| Currency conversion calculations | Consistent math ensures all figures are comparable across the article. | We applied 1 USD = 9.1148 MAD and 1 EUR = 10.7452 MAD throughout. We rounded figures appropriately for readability while maintaining accuracy. |
| Property size standards | Using typical sizes buyers actually shop for makes estimates practical. | We used common apartment sizes (55-120 sqm) and villa sizes (180-300 sqm) for calculations. We based these on what appears most frequently in Fes listings. |
| Neighborhood classification | Grouping areas by character helps buyers understand market segments. | We labeled neighborhoods as value, mainstream, or premium based on price data. We assigned descriptive tags like "expat-friendly" based on common buyer patterns. |
| Renovation cost estimates | Local contractor pricing provides realistic budget expectations. | We used per-sqm renovation costs common in the Moroccan market. We distinguished between light (cosmetic) and heavy (structural) renovation scenarios. |
| Price range methodology | Showing ranges rather than single figures reflects real market variation. | We applied plus or minus 10-15% around reference prices to account for condition and finish. We explained this methodology so readers understand the variation. |
| Median vs average distinction | Explaining both metrics helps readers understand typical vs skewed prices. | We calculated median based on a typical 100 sqm apartment at city-average rates. We estimated average higher to reflect the pull from luxury properties. |
| New vs existing price analysis | Understanding this premium helps buyers compare options fairly. | We compared new-build and existing listings of similar sizes in the same areas. We estimated the 8-15% premium based on observed price differences. |
| Negotiation gap estimates | Knowing typical discounts helps buyers budget and negotiate effectively. | We estimated the 6-10% gap based on market practices in Moroccan real estate. We noted this is not officially published but reflects common experience. |
| Expat preference analysis | Highlighting areas popular with international buyers serves common reader needs. | We identified Nouvelle Ville, Agdal, and City Center based on convenience factors. We explained why these areas attract non-Moroccan buyers. |
| Budget scenario planning | Showing what specific budgets can buy makes the market tangible. | We created realistic property examples for six budget levels from $100k to $2M. We matched each budget to appropriate neighborhoods, sizes, and conditions. |
| Sqft conversion standard | Providing both metric and imperial units serves international readers. | We used the standard 1 sqm = 10.7639 sqft throughout. We showed both measurements in price-per-area tables for reader convenience. |
| Ten-year trend analysis | Long-term perspective shows whether prices have grown meaningfully. | We estimated 15-30% nominal gains based on national IPAI trends applied to Fes. We calculated real gains of 0-10% after adjusting for cumulative inflation. |
| Property type breakdown | Understanding market composition helps buyers know what is available. | We estimated apartments at 65%, villas at 20%, riads at 10%, and premium units at 5%. We based this on listing frequency observations across major portals. |
| All-in cost methodology | Total cost matters more than headline price for actual buyers. | We added 8-12% for fees and taxes based on official rates and market practice. We created three worked examples showing how costs scale with property price. |
Get the full checklist for your due diligence in Fes
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
Related blog posts