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Yes, the analysis of Fes' property market is included in our pack
Thinking about buying a 3-bedroom apartment in the Medina of Fes? It’s a vibrant area rich in history and culture, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like the Ville Nouvelle where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Morocco Property Pack.
Will property prices increase in Fes in 2025?
No, property prices in Fes are not expected to rise in 2025, due to a combination of economic challenges and market conditions.
Backed by our fresh, in-depth market analysis, we’re observing trends that suggest Fes may face a stagnant or declining property market in the near future.
While there are some positive developments, the overall economic environment and local market dynamics are likely to exert downward pressure on property prices.
Signals pointing to a property price increase in Fes
Here are some factors suggesting prices could increase:
The city is experiencing a modest increase in tourism, which could boost demand for short-term rental properties, potentially leading to a slight increase in property values in tourist-friendly areas.
There is a growing interest in cultural heritage and historical properties, which could drive up prices in specific neighborhoods known for their traditional architecture and historical significance.
Local government initiatives aimed at urban renewal and infrastructure improvements may enhance certain districts, making them more attractive to buyers and potentially increasing property values in those areas.
Signals pointing to a property price decrease in Fes
Here are some factors suggesting prices could fall:
Economic instability and high unemployment rates in the region are likely to suppress demand for property purchases, as potential buyers may face financial constraints.
A surplus of available properties on the market, particularly in less desirable areas, is expected to keep prices low due to oversupply.
Rising inflation and cost of living are putting pressure on household budgets, reducing the purchasing power of potential buyers and leading to decreased demand.
Limited access to affordable financing options and high interest rates are making it difficult for buyers to secure mortgages, further dampening demand.
The ongoing impact of global economic uncertainties may lead to cautious investment behavior, with potential buyers opting to wait for more stable conditions before making property purchases.
A lack of significant foreign investment in the local real estate market is contributing to stagnant demand and limited price growth.
The slow pace of economic recovery post-pandemic is affecting consumer confidence, leading to reduced interest in property investments.
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If property prices go up in Fes, how much would they increase by?
If real estate prices in Fes were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in emerging markets like Fes appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as location, demand, and property type.
It means that, if you spot a charming riad in the Medina for 1,000,000 MAD today, don't be surprised if it's priced between 1,030,000 and 1,070,000 MAD this time next year.
To give you a better understanding, here is a table that shows 7 types of Fassi real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.
| Type of Property | Average Price in 2024 (MAD) | Price in 2025 (3% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Traditional Riad (200 sqm / 2,153 sqft) | 1,500,000 MAD | 1,545,000 MAD | 1,575,000 MAD | 1,605,000 MAD |
| Modern Apartment (100 sqm / 1,076 sqft) | 1,200,000 MAD | 1,236,000 MAD | 1,260,000 MAD | 1,284,000 MAD |
| Luxury Villa (300 sqm / 3,229 sqft) | 3,000,000 MAD | 3,090,000 MAD | 3,150,000 MAD | 3,210,000 MAD |
| Studio (50 sqm / 538 sqft) | 600,000 MAD | 618,000 MAD | 630,000 MAD | 642,000 MAD |
| Loft (120 sqm / 1,292 sqft) | 1,800,000 MAD | 1,854,000 MAD | 1,890,000 MAD | 1,926,000 MAD |
| Townhouse (250 sqm / 2,691 sqft) | 2,500,000 MAD | 2,575,000 MAD | 2,625,000 MAD | 2,675,000 MAD |
| Investment Property (80 sqm / 861 sqft) | 1,000,000 MAD | 1,030,000 MAD | 1,050,000 MAD | 1,070,000 MAD |
Everything you need to know is included in our Property Pack for Fes
If real estate prices go up in Fes, which areas are likely to see the biggest increases?
Today, people who want to move to Fes are looking for a blend of traditional charm and modern amenities, which Fes el Bali offers. Hence, we could see a price increase there in 2025.
Additionally, there's been a growing interest in more youthful, vibrant neighborhoods, and Ville Nouvelle has really started to gain attention.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Fes market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Fes el Bali | High | Recent restoration projects and its increasing appeal to international tourists and expatriates, driving demand. |
| Ville Nouvelle | High | Expected rise due to modern infrastructure, new commercial developments, and growing demand for contemporary living spaces. |
| Ziat | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Agdal | Medium | The shift towards more residential areas with green spaces is driving demand, combined with new mixed-use developments. |
| Mellah | Medium-High | Cultural heritage projects and recent construction of new amenities are increasing its attractiveness for families, pushing prices upward. |
| Borj Nord | Medium | Investment in local infrastructure, such as the renovation of historic sites, is boosting long-term value. |
| Sidi Boujida | Medium-High | With new cultural and commercial spaces being developed, this area is seeing increased demand from both residents and investors. |
| Ain Kadous | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Narjiss | Medium-High | Its proximity to central Fes, along with new residential developments, makes it increasingly attractive to professionals seeking more space. |
| Ras El Ma | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| Oued Fes | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Bab Boujloud | High | Upcoming restoration of historic gates and high-profile cultural projects are driving a renewed focus on this central, historic location. |
-The best areas to buy a property in Fes
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Fes?
In 2025, Fes real estate trends focus on traditional riads with modern amenities, energy-efficient new builds, properties with gardens or courtyards, and eco-friendly developments—all driving higher demand and prices. Here is a summary.
- Modernized Traditional Riads:
Combining the charm of traditional Moroccan architecture with modern comforts, these properties are highly sought after by both locals and expatriates. They offer a unique living experience in the heart of Fes, making them a valuable investment in 2025.
- Energy-Efficient New Builds:
With a growing focus on sustainability, new constructions in Fes that incorporate energy-saving technologies are becoming popular. These homes appeal to environmentally conscious buyers and are expected to see significant appreciation.
- Properties with Gardens or Courtyards:
In Fes, outdoor spaces such as gardens or traditional courtyards (known as 'wast ad-dar') are highly valued. These features provide a private oasis in the bustling city, enhancing the property's appeal and value.
- Eco-Friendly Developments:
As Fes embraces sustainable living, developments that prioritize eco-friendly practices are gaining traction. Properties with low carbon footprints and sustainable materials are increasingly attractive to buyers, driving up their market value.
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