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The real estate market in Fes in 2026 is active again, but buyers still have room to negotiate.
In this blog post, we talk about current housing prices in Fes, demand, neighborhoods, rental demand and the main risks for foreign buyers.
We constantly update this blog post, so the Fes property market data stays fresh and useful for individual buyers.
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.
How’s the real estate market going in Fes in 2026?
What's the average days-on-market in Fes in 2026?
As of 2026, the average days-on-market for residential property in Fes is about 100 days, which means a normal home often needs around three months to find a serious buyer.
Most typical Fes listings fall between 60 and 180 days, with well-priced apartments in Agdal, Nouvelle Ville, Champ de Course, Route d’Immouzer and Ain Amiyer selling faster than older villas or difficult medina houses.
This is faster than one or two years ago because Fes transactions jumped strongly in late 2025, but the market is still not fast enough to remove normal buyer negotiation.
Are properties selling above or below asking in Fes in 2026?
As of 2026, residential properties in Fes usually sell at about 95% of asking price, so a normal buyer discount is around 5%.
Only about 5% to 10% of Fes properties likely sell above asking, while most sell at or below asking, and our confidence is medium because Morocco does not publish sale-to-asking ratios.
Above-asking sales are most likely for clean, renovated and correctly priced apartments in Agdal, Nouvelle Ville, Champ de Course and Route d’Immouzer, while riads, large villas and older apartments usually face more negotiation.
By the way, you will find much more detailed data in our property pack covering the real estate market in Fes.
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What kinds of residential properties can I realistically buy in Fes?
What property types dominate in Fes right now?
The Fes residential market is mainly made of apartments, then traditional houses, villas, riads and a smaller number of newer family homes in outer districts.
Apartments are clearly the largest property type in Fes, and they represent roughly three quarters of visible residential sale listings on large property portals.
Apartments became dominant in Fes because modern neighborhoods such as Agdal, Nouvelle Ville, Route d’Immouzer, Narjis, Saada and Oued Fes are built around practical urban living, parking, schools, clinics and daily services.
If you want to know more, you should read our dedicated analyses:
Are new builds widely available in Fes right now?
New-build homes probably represent around 15% to 25% of active residential listings in Fes, so new builds exist, but Fes is not a giant new-build market like Casablanca or Tangier.
As of 2026, the highest concentration of new-build property in Fes is around Route d’Immouzer, Ain Amiyer, Route Ain Chkef, Narjis, Oued Fes and newer outer growth corridors.
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Which neighborhoods are improving fastest in Fes in 2026?
Which areas in Fes are gentrifying in 2026?
As of 2026, the clearest gentrification in Fes is in Batha, Rcif, Talaa Kbira, Talaa Sghira, Ziat, Agdal, Champ de Course, Nouvelle Ville, Ain Amiyer and Route d’Immouzer.
In the medina, the visible signs are riad renovations, guesthouse conversions, safer restored buildings and more tourism services, while Agdal and Champ de Course show more cafés, clinics, retail and renovated apartment blocks.
Over the past two to three years, the best gentrifying pockets of Fes likely rose around 8% to 15%, while weaker or poorly located properties often stayed almost flat.
By the way, we’ve written a blog article detailing what are the current best areas to invest in property in Fes.
Where are infrastructure projects boosting demand in Fes in 2026?
As of 2026, infrastructure is boosting housing demand most around Route d’Immouzer, Ain Amiyer, Route Ain Chkef, Oued Fes, Agdal, Nouvelle Ville, Champ de Course, Batha and Rcif.
The biggest demand drivers are the planned high-service bus line toward Fes-Saïss Airport, airport-road improvements, medina rehabilitation, university and hospital activity, and better links between central Fes and southern growth areas.
The high-service bus project is still in study and planning stages in 2026, while medina rehabilitation and urban upgrades are already visible and should continue over several years.
In Fes, infrastructure announcements can add about 2% to 5% to nearby good properties, while completed and well-used projects can support about 5% to 10% over time if the location is already livable.
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What do locals and insiders say the market feels like in Fes?
Do people think homes are overpriced in Fes in 2026?
As of 2026, many Fes locals feel that homes are somewhat overpriced, but not in a full bubble, because buyers are active and still selective.
People who say Fes homes are overpriced usually point to flat apartment prices, large portal inventory, weak finishes, no parking, no elevator and sellers asking Agdal-style prices for fringe locations.
People who say Fes prices are fair point to low prices compared with Casablanca, Rabat and Marrakech, plus stronger late-2025 transaction growth and better demand near central services.
The price-to-income ratio in Fes is likely below Casablanca, Rabat and Marrakech, but still heavy for many local households because wages in Fes are also lower than in Morocco’s biggest economic cities.
What are common buyer mistakes people regret in Fes right now?
The most common regret in Fes is buying a medina riad or old house without a serious title check, structural inspection and renovation budget.
The second most common regret is buying an apartment that looks cheap but has weak resale basics, such as no elevator, no parking, poor co-ownership management or a location outside real buyer demand.
If you want to go deeper, you can check our list of risks and pitfalls people face when buying property in Fes.
It’s because of these mistakes that we have decided to build our pack covering the property buying process in Fes.
Don't buy the wrong property, in the wrong area of Fes
Buying real estate is a significant investment. Don't rely solely on your intuition. Gather the right information to make the best decision.
How easy is it for foreigners to buy in Fes in 2026?
Do foreigners face extra challenges in Fes right now?
Foreigners face a moderate difficulty level when buying property in Fes, because the law is open for urban residential property but the practical process is harder than it looks.
Foreign buyers can generally buy urban residential property in Fes, but they must document foreign-currency transfers properly if they want future sale proceeds to benefit from Morocco’s convertibility regime.
The most Fes-specific challenges are medina title complexity, Arabic and French paperwork, renovation risk, narrow-street access and fewer foreign-buyer comparables than in Marrakech or Tangier.
We will tell you more in our blog article about foreigner property ownership in Fes.
Do banks lend to foreigners in Fes in 2026?
As of 2026, Moroccan banks do lend to some foreign buyers in Fes, but approval is easier for clean titled apartments than for medina renovation projects.
Foreign buyers should usually expect about 60% to 70% loan-to-value at best, with mortgage rates often around 5% to 6% depending on residency, income, deposit size and bank profile.
Banks usually ask foreign applicants for passport documents, proof of income, tax documents, bank statements, property valuation, proof of funds and a clean money-transfer trail into Morocco.
You can also read our latest update about mortgage and interest rates in Morocco.
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.
How risky is buying in Fes compared to other nearby markets?
Is Fes more volatile than nearby places in 2026?
As of 2026, Fes looks less speculative than Marrakech and Tangier, less liquid than Casablanca, and a little more dynamic than nearby Meknes.
Over the past decade, Fes has usually moved more slowly than Morocco’s global-demand markets, but individual Fes properties can still be risky if the title, access or resale location is weak.
If you want to go into more details, we also have a blog article detailing the updated housing prices in Fes.
Is Fes resilient during downturns historically?
Fes property values have been reasonably resilient during downturns because demand comes from local families, students, civil servants, hospital activity, diaspora buyers and cultural tourism.
During weaker market periods, average Fes residential prices are more likely to stagnate or fall by about 3% to 7% than to crash, but recovery can take longer than in Casablanca or Rabat.
In Fes downturns, mid-priced apartments in Agdal, Nouvelle Ville, Champ de Course, Ain Amiyer and Route d’Immouzer usually hold value better than overpriced riads, large villas or remote new builds.
Get the full checklist for your due diligence in Fes
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How strong is rental demand behind the scenes in Fes in 2026?
Is long-term rental demand growing in Fes in 2026?
As of 2026, long-term rental demand in Fes is growing slowly but steadily, especially for practical apartments near schools, universities, clinics, work areas and transport.
The main tenants in Fes are students, young professionals, families, hospital and university workers, civil servants, small business owners and Moroccans moving within the region.
The strongest long-term rental neighborhoods in Fes are Agdal, Nouvelle Ville, Champ de Course, Route d’Immouzer, Ain Amiyer, Narjis, Saada and Oued Fes.
You might want to check our latest analysis about rental yields in Fes.
Is short-term rental demand growing in Fes in 2026?
Short-term rentals in Fes are affected by tourism-registration, safety, tax and accommodation rules, so a riad or apartment should not be treated as automatically legal for tourist stays.
As of 2026, short-term rental demand in Fes is growing, helped by cultural tourism, medina stays and the wider recovery in Fes-Meknes overnight stays.
The current average occupancy rate for a well-located short-term rental in Fes is likely around 45% to 60%, with better performance near Batha, Rcif, Ziat and easy-access medina streets.
The main guests are cultural tourists, Moroccan domestic travelers, European visitors, heritage travelers, small groups and some business or event visitors, not beach tourists or party travelers.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Fes.
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 are the realistic short-term and long-term projections for Fes in 2026?
What's the 12-month outlook for demand in Fes in 2026?
As of 2026, the 12-month demand outlook for residential property in Fes is moderately positive, with buyers active but still careful on price and property quality.
The main factors to watch are mortgage rates, tourism growth, medina rehabilitation, the airport corridor, household formation and whether sellers accept realistic discounts.
For the next 12 months, average residential prices in Fes are likely to rise around 2% to 4%, while the best central apartments could rise around 4% to 6%.
By the way, we also have an update regarding price forecasts in Morocco.
What's the 3–5 year outlook for housing in Fes in 2026?
As of 2026, the 3–5 year outlook for Fes housing is positive but not explosive, with good properties likely to gain value faster than weak or poorly located homes.
The main projects shaping Fes over the next 3–5 years are medina rehabilitation, airport-corridor mobility, university and hospital activity, urban-agency projects and possible high-service bus delivery.
The biggest uncertainty is execution speed, because Fes property prices will benefit more if transport and rehabilitation projects are delivered on time and used by residents.
Are demographics or other trends pushing prices up in Fes in 2026?
As of 2026, demographics are gently pushing Fes property prices upward because the wider Fes-Meknes region has a large urban population base and steady housing needs.
The most important demographic shifts are urban household formation, student demand, medical and university-linked demand, diaspora buying and families wanting modern apartments outside the medina.
Non-demographic trends also matter in Fes, especially cultural tourism, riad restoration, better airport access, remote-friendly lifestyle buyers and Moroccans priced out of larger cities.
These pressures should continue for several years, but they will mainly lift well-located apartments and accessible medina properties rather than every cheap listing in Fes.
What scenario would cause a downturn in Fes in 2026?
As of 2026, the most likely downturn scenario in Fes would be a mix of higher mortgage rates, weaker tourism, slow project delivery and sellers refusing to cut unrealistic asking prices.
The early warning signs would be rising portal inventory, longer sale times above 150 days, more price cuts, weaker medina bookings and fewer transactions in apartments.
A realistic downturn in Fes would probably mean flat prices or a 3% to 7% fall in weaker segments, while good central apartments would more likely stagnate than collapse.
Make a profitable investment in Fes
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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 this source matters | How we used it |
|---|---|---|
| Bank Al-Maghrib and ANCFCC Real Estate Price Index | It is Morocco’s official transaction-based property price index, built from registered real estate transactions. | We used it to measure real price and transaction momentum in Fes. We treated it as stronger than asking prices because it is based on recorded sales. |
| Bank Al-Maghrib Q4 2025 REPI report | It gives recent city-level property data, including Fes prices and transactions by property type. | We used it to quantify the late-2025 recovery in Fes. We also used its property-type data to avoid over-reading thin categories like villas. |
| Bank Al-Maghrib lending rates | It is the official central-bank source for observed lending rates in Morocco. | We used it to estimate mortgage affordability in Fes in 2026. We also used it to check whether foreign-buyer financing assumptions were realistic. |
| HCP Fès-Meknès RGPH 2024 | HCP is Morocco’s official statistics agency, so its census data is the best source for population context. | We used it to understand the population base behind housing demand in Fes. We also used it to separate long-term local demand from tourism demand. |
| Office des Changes foreign investment rules | It is Morocco’s official foreign-exchange authority and explains the rules that matter for foreign investors. | We used it to explain money-transfer and repatriation issues for foreign buyers in Fes. We also used it to warn buyers about documentation. |
| Agence Urbaine et de Sauvegarde de Fès | It is the local authority that helps shape planning, preservation and urban development in Fes. | We used it to understand which areas of Fes are supported by planning and preservation work. We also used it to interpret neighborhood improvement patterns. |
| Fédération des Agences Urbaines du Maroc, Fès | It lists official urban-agency projects connected to the Fes territory. | We used it to identify structural drivers such as airport access, public facilities and urban upgrades. We also used it to compare stronger corridors with weaker locations. |
| Morocco Tourism Roadmap | It is the official tourism-ministry roadmap, so it gives the national direction for tourism growth. | We used it to assess whether short-term rental demand in Fes has structural support. We connected national tourism goals to Fes’s cultural tourism market. |
| Observatoire du Tourisme | It is Morocco’s official tourism observatory and tracks tourism activity across the country. | We used it to check tourism-night trends for Fes-Meknes. We also used it to support the short-term rental section without relying only on Airbnb-style estimates. |
| Mubawab Fes listings | Mubawab is one of Morocco’s largest property portals and is useful for live asking-price supply. | We used it to estimate visible supply, property mix and price bands in Fes. We did not treat Mubawab listings as final sale prices. |
| Avito Fes apartment listings | Avito is a major Moroccan classifieds platform with a large number of local property listings. | We used it to cross-check apartment supply and asking-price ranges in Fes. We treated it carefully because classifieds can include duplicates and unrealistic listings. |
| World Bank Fes-Medina Rehabilitation Project | The World Bank provides a long-run institutional record of medina rehabilitation and heritage-led urban work. | We used it to understand why the Fes medina is a separate property market. We also used it to explain why medina assets need special due diligence. |
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