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In this article, we look at the current housing prices in Fes in 2026, including apartments, maisons, villas and riads.
We also explain how property prices in Fes have moved recently, which neighborhoods are rising fastest, and what could happen next.
We constantly update this blog post so buyers can work with fresh Fes real estate data, not outdated market guesses.
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.
What are the current property price trends in Fes as of 2026?
What is the average house price in Fes as of 2026?
As of 2026, the average residential property price in Fes is about 750,000 MAD, which is roughly 81,000 USD or 70,000 EUR for a typical family home.
This average fits with an estimated average property price in Fes in 2026 of about 6,700 MAD per m², or roughly 720 USD and 620 EUR per m².
In real buying terms, roughly 80% of residential property purchases in Fes in 2026 fall between 400,000 MAD and 1.8 million MAD, which is about 43,000 to 194,000 USD or 37,000 to 168,000 EUR.
How much have property prices increased in Fes over the past 12 months?
Property prices in Fes increased by about 3% over the past 12 months to June 2026, which means the city is rising but not overheating.
The realistic 12 month increase in Fes is closer to 0% to 2% for weaker older apartments, 2% to 4% for modern apartments, 3% to 5% for good maisons, and 4% to 6% for villas and strong renovated riads.
The biggest reason for this price movement in Fes is that buyers are paying more for newer, practical homes in better connected western and southern districts.
Which neighborhoods have the fastest rising property prices in Fes as of 2026?
As of 2026, the three fastest rising property areas in Fes are Route d’Immouzer, Aïn Amiyer and Route Aïn Chkef.
Route d’Immouzer and Aïn Amiyer are probably rising by about 4% to 6% per year, while Route Aïn Chkef is also close to 4% to 6% because demand is moving toward the Saiss and airport side of Fes.
The main reason these Fes neighborhoods are rising faster is simple: families want newer buildings, parking, better road access and more comfortable homes than they can often find in the old central districts.
By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Fes.
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Which property types are increasing faster in value in Fes as of 2026?
As of 2026, the value growth ranking in Fes is villas first, maisons and townhouse style homes second, apartments and condos third, and weaker old housing last.
The top performing property type in Fes in 2026 is the villa, with estimated annual appreciation of about 4% to 6% in good locations.
Villas are outperforming because good villa supply in Fes is limited, while upper middle class families still value space, privacy, parking and garden potential.
Finally, if you’re interested in a specific property type, you will find our latest analyses here:
What is driving property prices up or down in Fes as of 2026?
As of 2026, the top three drivers of property prices in Fes are affordability versus larger Moroccan cities, expansion toward Saiss and Aïn Chkef, and demand for newer homes with parking and elevators.
The strongest upward pressure in Fes comes from buyers moving toward modern western and southern districts because these areas offer easier daily life than many older central streets.
If you want to understand these factors at a deeper level, you can read our latest property market analysis about Fes here.
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What is the property price forecast for Fes in 2026?
How much are property prices expected to increase in Fes in 2026?
As of 2026, property prices in Fes are expected to increase by about 3.5% over the full year.
A realistic 2026 forecast range for Fes is about 2% to 5%, with the lower end for weaker older stock and the upper end for villas, good maisons and newer apartments in strong areas.
The main assumption behind most Fes property price forecasts is that mortgage conditions stay stable and Moroccan household demand remains steady.
We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Fes.
Which neighborhoods will see the highest price growth in Fes in 2026?
As of 2026, Route d’Immouzer, Aïn Amiyer, Route Aïn Chkef, Saiss and Narjiss are expected to see the highest property price growth in Fes.
These top Fes neighborhoods are likely to rise by about 3% to 6% in 2026, with the strongest homes being modern apartments, villas and well placed maisons.
The main catalyst is the same in each area: Fes buyers want newer housing, easier road access, parking and a better family living environment.
One emerging Fes area that could surprise is Oulad Tayeb, especially if infrastructure and airport side activity improve faster than expected.
By the way, we’ve written a blog article detailing what are the current best areas to invest in property in Fes.
What property types will appreciate the most in Fes in 2026?
As of 2026, villas are expected to appreciate the most in Fes, while townhouse style homes should be treated as maisons and condos should be treated as apartments.
The projected appreciation for villas in Fes in 2026 is about 5%, with better results possible for well located villas around Route d’Immouzer, Aïn Amiyer, Saiss and Route Aïn Chkef.
The main demand trend behind this villa growth is the desire for private family space in a city where good modern villas are not always easy to find.
Older apartments without elevators, poor light or weak parking are expected to underperform because Fes buyers can often find better value in newer districts.
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How will interest rates affect property prices in Fes in 2026?
As of 2026, interest rates should have a mildly positive impact on property prices in Fes because borrowing conditions are easier than during the higher rate period of 2023 and early 2024.
Bank Al-Maghrib’s benchmark rate was 2.25% in March 2026, and mortgage rates in Morocco are expected to stay broadly stable unless inflation or global risk rises again.
In a price sensitive city like Fes, a 1 percentage point rise in mortgage rates can reduce buyer affordability by about 8% to 10%, which usually slows apartment and maison price growth first.
You can also read our latest update about mortgage and interest rates in Morocco.
What are the biggest risks for property prices in Fes in 2026?
As of 2026, the three biggest risks for property prices in Fes are weak local income growth, too much average quality supply in outer areas, and sellers asking prices above what local buyers can pay.
The most likely risk is affordability pressure because Fes is a household income driven market, not a market lifted mainly by foreign luxury buyers.
We actually cover all these risks and their likelihoods in our pack about the real estate market in Fes.
Is it a good time to buy a rental property in Fes in 2026?
As of 2026, it is a reasonable time to buy a rental property in Fes if the buyer chooses a liquid apartment or a carefully selected renovated riad instead of chasing cheap but difficult stock.
The strongest argument for buying now in Fes is that entry prices are still moderate compared with Casablanca, Rabat, Marrakech and Tangier, while gross rental yields can often reach about 5% to 7% for well bought apartments.
The strongest argument for waiting is that some sellers in central Agdal, Ville Nouvelle, Champs de Course and renovated Medina areas are asking ambitious prices that may not give enough rental return.
If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Fes.
You’ll also find a dedicated document about this specific question in our pack about real estate in Fes.
Get to know the market before buying a property in Fes
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Where will property prices be in 5 years in Fes?
What is the 5-year property price forecast for Fes as of 2026?
As of 2026, property prices in Fes are expected to be about 20% higher by 2031 in nominal terms.
A conservative 5 year forecast for Fes is about 10% to 15% growth, while an optimistic forecast is about 25% to 30% for the best locations and property types.
The projected average annual appreciation rate in Fes over the next 5 years is about 3.5% to 4% per year.
The key assumption is that Fes keeps benefiting from steady Moroccan household demand, stable financing and gradual infrastructure improvements without a major affordability shock.
Which areas in Fes will have the best price growth over the next 5 years?
The top three Fes areas expected to have the best property price growth over the next 5 years are Route Aïn Chkef, Saiss and Route d’Immouzer.
These areas could see about 25% to 35% cumulative growth by 2031 if infrastructure improves and good quality housing remains limited.
This is slightly stronger than the short term forecast because infrastructure, household formation and buyer habits take several years to fully show up in property prices.
The currently undervalued area with the best 5 year outperformance potential is Oulad Tayeb, especially for buyers who can accept more execution risk.
What property type will give the best return in Fes over 5 years as of 2026?
As of 2026, a well located modern apartment bought below the local market price is expected to give the best total return in Fes over 5 years.
A good Fes apartment could deliver about 45% to 60% total return over 5 years when price growth and gross rental income are combined, before taxes, fees, maintenance and vacancy.
The main structural trend supporting apartments is the steady demand from families, students, professionals and small investors who want easy to rent homes in practical neighborhoods.
The best balance of return and lower risk in Fes is usually a 70 to 110 m² apartment with elevator, parking, good light and strong resale appeal.
How will new infrastructure projects affect property prices in Fes over 5 years?
The three infrastructure themes most likely to affect Fes property prices over the next 5 years are airport related upgrades, better road access toward Saiss and Aïn Chkef, and continued urban expansion around newer family districts.
In Fes, properties that clearly benefit from completed infrastructure can often earn a 5% to 10% premium over similar homes in less connected areas.
The neighborhoods most likely to benefit are Saiss, Route Aïn Chkef, Route d’Immouzer, Aïn Amiyer, Narjiss and selected areas near the airport side of Fes.
How will population growth and other factors impact property values in Fes in 5 years?
Fes Meknes population growth is modest, so population alone may add support to property values in Fes but is unlikely to create a sudden boom.
The strongest demographic shift for Fes property demand is household formation, because younger households, students and working families increasingly want smaller, easier to manage apartments.
Domestic migration should support practical neighborhoods in Fes, while international migration will mostly affect renovated riads and a small number of lifestyle purchases.
The biggest beneficiaries will be modern apartments in Agdal, Route d’Immouzer, Aïn Amiyer, Narjiss and Saiss, plus selected renovated riads near Batha and the Medina.
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 is the 10 year property price outlook in Fes?
What is the 10-year property price prediction for Fes as of 2026?
As of 2026, property prices in Fes are expected to be about 45% higher by 2036 in nominal terms.
A conservative 10 year forecast for Fes is about 25% to 30% growth, while an optimistic scenario is about 55% to 65% for the best homes in the strongest neighborhoods.
The projected average annual appreciation rate in Fes over the next 10 years is about 3.5% to 4% per year.
The biggest uncertainty is whether local incomes in Fes can keep rising enough to support higher prices without making ordinary homes unaffordable.
What long-term economic factors will shape property prices in Fes?
The three long term economic factors that will shape property prices in Fes are Moroccan GDP growth, regional job creation in Fes Meknes, and the cost of building and financing new homes.
The most positive long term factor is better connectivity and infrastructure, because it can make Saiss, Aïn Chkef, Route d’Immouzer and nearby districts more useful for daily life.
The greatest structural risk is weak purchasing power, because Fes property prices cannot rise strongly for long if local households cannot afford the homes being built.
You’ll also find a much more detailed analysis in our pack about real estate 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 we trust it | How we used it |
|---|---|---|
| Bank Al-Maghrib IPAI archive | It is Morocco’s official archive for real estate price index releases. | We used it as the main official trend anchor for Moroccan property prices. We treated it as more reliable than media summaries. |
| ANCFCC and Bank Al-Maghrib IPAI T4 2025 | It uses registered transaction data from Morocco’s land registry system. | We used it to understand the latest official Fes price direction by property type. We did not over read small subcategories with limited transactions. |
| Agenz Fes price benchmark | It combines public data, listings and partner transaction information. | We used it to estimate current price per m² in Fes by type and commune. We treated it as a market benchmark, not as an official index. |
| Mubawab Fes listings | It is one of Morocco’s major real estate portals. | We used it to check live asking prices and active supply. We discounted asking prices because final sale prices are usually lower. |
| Avito Fes listings | It is Morocco’s largest classifieds marketplace. | We used it to cross check price bands and neighborhood liquidity. We used it for market texture rather than formal valuation. |
| HCP RGPH 2024 Fes Meknes | HCP is Morocco’s official statistics authority. | We used it for population and household demand context. We focused on household formation because that matters more than population alone. |
| IMF Morocco 2026 Article IV | It is an official IMF assessment of Morocco’s economy. | We used it for national growth and inflation context. We applied it carefully because it is national, not Fes specific. |
| World Bank Morocco MPO | It provides independent macro forecasts and risk framing. | We used it to test whether our Fes price forecasts were too optimistic. We kept the forecast moderate because affordability remains important. |
| Bank Al-Maghrib policy rate history | It is the official record of Morocco’s benchmark interest rate. | We used it to assess mortgage pressure in 2026. We linked lower rates to buyer affordability, especially for apartments and maisons. |
| Maroc.ma airport infrastructure agreement | It republishes official Moroccan government communications. | We used it for national airport upgrade context linked to Fes Saiss. We treated local price effects as directional, not guaranteed. |
| USD to MAD exchange rate history | It provides 2026 exchange rate reference data. | We used it to convert Fes prices into approximate USD values. We rounded all conversions to keep the article easy to read. |
| EUR to MAD exchange rate history | It provides 2026 euro to dirham exchange rate reference data. | We used it to convert Fes prices into approximate EUR values. We rounded the figures because exact daily currency moves are not useful for most buyers. |
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