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Best areas to buy and invest in property in Fes

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property investment Fes

Yes, the analysis of Fes' property market is included in our pack

The question of 'the best neighborhood to buy a property in Fes' does not have a one-size-fits-all answer.

Some of you are buying to live there, while others want to make the best investment possible. Individual preferences and circumstances matter.

That’s why the article below is covering every intent.

At SandsOfWealth, when we write a blog post or when we update our our property pack for Morocco, we want to bring solutions and cover different aims in a clear and organized way.

Enjoy the read, and please remember that we are not financial or investment experts. This article is for informational purposes only.

To improve the readability and user-friendliness of this article, we will categorize neighborhoods in Fes into various groups, including budget-friendly options, emerging hotspots, and areas with high rental demand, among others. Consequently, some neighborhoods may appear in multiple categories and be mentioned several times throughout the article.

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buying property in Fes

How is the real estate market in Fes?

The real estate market in Fes, Morocco, is an intriguing blend of history and modernity, making it a magnet for a diverse range of buyers, including foreign investors.

Let's delve into what makes Fes so appealing.

Firstly, Fes stands out for its rich cultural and historical heritage, unlike any other city. It's home to the oldest continuously functioning university in the world, the University of Al Quaraouiyine, and its medina, Fes el Bali, is a UNESCO World Heritage site.

This unique blend of ancient architecture and living history isn't found anywhere else, offering a living experience that's deeply rooted in culture and tradition. These factors contribute significantly to the city's allure, drawing in those who appreciate history and cultural richness.

The types of people looking to buy property in Fes are as varied as the city itself. You've got history buffs, culture enthusiasts, and those seeking a connection to a rich historical tapestry.

Then there are foreign investors and expatriates, drawn to Fes for its unique charm and the potential for a lifestyle change. The city's blend of traditional Moroccan life with a touch of modernity makes it particularly appealing to those from abroad.

Speaking of the real estate market's dynamism, one key data point to consider is the increasing demand for riads, traditional Moroccan houses, and palaces with interior gardens. These properties, often centuries old, are being snapped up and restored, reflecting both a respect for heritage and an eye for investment.

A very specific and positive aspect of properties in Fes is their traditional Moroccan architecture, especially the riads. These aren't just homes; they're pieces of art, featuring intricate tile work, carved wooden doors, and ornate plasterwork.

This level of craftsmanship, steeped in history, is something you won't find in modern constructions elsewhere.

Looking to the future, several factors indicate that properties in Fes will continue to gain value.

The city's ongoing restoration efforts, aimed at preserving its historical sites, are continuously enhancing its appeal.

Moreover, Fes is increasingly becoming a cultural and tourist hotspot, which, coupled with Morocco's growing economy, suggests a steady rise in property values.

Additionally, the Moroccan government's initiatives to promote foreign investment, including in the real estate sector, are likely to further boost the market's growth.

Top neighborhoods in Fes to consider for living

Areas in Fes that are budget-friendly

If you're looking to buy property in Fes on a budget, there are a few neighborhoods you might want to consider.

Here is a summary table. Below, we will give more details.

Neighborhood Average Price per sqm Property Types Target Demographic Strengths Weaknesses
Zouagha Low Apartments, Small Houses Middle-income Families, First-time Buyers Peaceful, Developing Amenities Lacks Upscale Facilities
Ain Nokbi Competitive Apartments Young Professionals, Small Families Young Community, Growth Potential Limited Amenities, Public Services
Saiss Among the Lowest Houses, Apartments Lower to Middle-income Groups Calm Atmosphere, Spacious Properties Far from City Center Luxuries


Zouagha is an appealing choice for budget-conscious property buyers in Fes.

It's cheaper because it's a bit removed from the city center, offering more affordable options. The area is witnessing gradual development, which suggests property values could rise in the future.

You'll mostly find apartments and small houses for sale in Zouagha. The average price per square meter in Zouagha is relatively low, catering to middle-income families and first-time buyers.

The neighborhood's strengths include its peaceful environment and growing amenities. However, it lacks some of the more upscale facilities found in pricier areas.

Ain Nokbi

Ain Nokbi is known for its cost-effective property options.

This affordability stems from its status as a developing neighborhood, not yet fully equipped with all urban facilities. This developmental stage hints at potential property value increases as infrastructure improves.

The area predominantly offers apartments in Ain Nokbi, appealing to young professionals and small families. The average price per square meter in Ain Nokbi is competitive, making it a smart choice for budget buyers.

The strengths of Ain Nokbi include its young community and potential for growth, while its weaknesses are the current lack of certain amenities and public services.


Saiss is another neighborhood offering affordability in Fes.

The lower prices are due to its location on the outskirts of the city, making it less in demand than central areas. However, with urban expansion, property values here might increase, making it a wise long-term investment.

The properties mainly include modest houses and apartments, targeting lower to middle-income groups. The average price per square meter in Saiss is among the lowest in Fes, attracting a diverse demographic.

Saiss's strengths are its calm atmosphere and spacious properties, but it falls short in terms of immediate access to city-center luxuries and conveniences.

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Areas in Fes that are popular and upscale

When looking to buy property in Fes, three neighborhoods stand out as upscale and popular choices. These neighborhoods each have their unique character and draw different types of residents.

Neighborhood Average Price/Sqm Resident Profile Strengths Weaknesses
Ville Nouvelle $2,500 Affluent locals & expats Modern amenities, nightlife High cost of living
Fes El Bali $2,000 Tourists, history enthusiasts Cultural heritage, landmarks Crowded, ancient infrastructure
Palais Royal Area $2,800 Diplomats, officials Security, tranquility Lacks cultural scene

Ville Nouvelle

Known for its cosmopolitan vibe, Ville Nouvelle is one of the most expensive areas in Fes.

It's popular among affluent locals and expatriates, boasting modern amenities and a vibrant nightlife. The properties in Ville Nouvelle range from luxurious apartments to spacious villas, with the average price per square meter hovering around $2,500.

Residents in Ville Nouvelle are typically well-to-do professionals and families who enjoy the blend of Moroccan and French colonial architecture. The area's strengths lie in its well-developed infrastructure, high-quality educational institutions, and an array of dining and shopping options.

However, the cost of living is high, and the area can feel less authentic compared to the historic parts of Fes.

Fes El Bali

This is the historic heart of the city, famous for its ancient medina.

It's expensive due to its historical significance and unique architectural charm. The properties in Fes El Bali are mostly traditional Moroccan houses, known as riads, with prices averaging around $2,000 per square meter.

The area attracts tourists, history enthusiasts, and those seeking a truly Moroccan experience. The strengths include a rich cultural heritage, famous landmarks like the Al-Qarawiyyin University, and bustling souks.

The downside is that the area can be quite crowded, and the ancient infrastructure may not appeal to everyone.

Palais Royal Area

Close to the royal palace, this neighborhood is prestigious and expensive, with prices averaging $2,800 per square meter.

It's known for its security, tranquility, and luxurious homes, often favored by diplomats and high-ranking officials.

The properties in Palais Royal Area are large, often with beautiful gardens and traditional Moroccan features.

The area is peaceful and well-maintained, but it lacks the vibrant cultural scene found in other parts of the city and can feel isolated.

Make sure you understand the real estate market in Fes

Don't rush into buying the wrong property in Morocco. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

real estate market Fes

Areas in Fes that emerge as new hotspots

Let's explore these emerging neighborhoods in Fes that, according to our local partners and our customers, are getting quite a bit of buzz lately.

Neighborhood Average Price/Sqm Resident Profile Strengths Weaknesses
Zouagha $1,500 Young professionals, artists Affordable, community feel Lacks some amenities
Ain Nokbi $1,700 Middle-class families, entrepreneurs Balance of urban & residential life Developing infrastructure
Batha $1,600 Diverse crowd, investors Cultural vibrancy Can be crowded


Originally a quiet residential area, Zouagha is gaining popularity for its affordable housing and scenic views.

It was mostly known for modest homes but has seen recent developments in modern apartments and townhouses. The average price in Zouagha is around $1,500 per square meter, making it more accessible than the traditional upscale areas.

It's attracting young professionals and artists, drawn by the mix of old and new, affordable living, and growing arts scene.

The area is expected to see a steady increase in property values. Its strengths are affordability and a sense of community, but it still lacks some amenities found in more established neighborhoods.

Ain Nokbi

Ain Nokbi used to be overlooked, but it's emerging as a hotspot for its spacious, yet reasonably priced homes.

The area is evolving with new cafes, shops, and cultural spaces. Average property prices in Ain Nokbi are around $1,700 per square meter. It’s becoming popular among middle-class families and entrepreneurs who appreciate the balance between urban life and quieter residential settings.

The neighborhood is expected to continue growing in popularity, with property values likely to rise.

Its strengths include a friendly community and growing commercial activities, but it's still developing in terms of infrastructure.


Once known mainly for its traditional market, Batha is now becoming a favorite for its blend of tradition and modernity.

The area is witnessing the renovation of old buildings into chic apartments and guesthouses. Prices in Batha average $1,600 per square meter, offering a more affordable entry into a culturally rich part of the city.

It attracts a diverse crowd, from young creatives to foreign investors. The projection is that Batha will maintain its upward trend in popularity, especially as it balances historical charm with modern conveniences.

Its main strength is its cultural vibrancy, but it can get crowded, especially during tourist seasons.

Make a profitable investment in Fes

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buying property in Fes

Top neighborhoods in Fes to invest in property

Areas in Fes with a strong rental demand

If you're considering buying real estate in Fes for renting it out, these neighborhoods with high demand for rentals should be considered.

Neighborhood Tenant Type Property Type Average Rental Income Rental Yield Tips Weaknesses
Medina Expats, Tourists Riads, Apartments $500-$800/month 5-7% Authentic features, modern amenities Maintenance costs, seasonal demand
Fes El Bali Students, Academics Apartments, Houses $300-$600/month 4-6% Near education centers, study-friendly Lower income during holidays, wear from tenants
Ville Nouvelle Expats, Affluent Locals Apartments, Villas $700-$1,200/month 6-8% Modern design, luxury amenities Higher investment, competition


In Medina, the rental demand is primarily driven by its historical significance and tourist appeal.

Tenants are often expatriates or professionals involved in the tourism industry seeking authentic Moroccan living experiences.

Traditional riads and apartments in Medina are in high demand, with rental incomes averaging around $500-$800 per month for well-maintained properties. The rental yield in Medina can hover between 5-7%. To maximize rental income, focus on properties with authentic

Moroccan architecture and modern amenities. The downside is the maintenance cost of older buildings and the seasonal fluctuations in rental demand.

Fes El Bali

This neighborhood is favored for its vibrant culture and proximity to major educational institutions like the University of Al Quaraouiyine, attracting students and academic professionals.

Apartments and small houses are popular in Fes El Bali, with rental incomes ranging from $300 to $600 monthly. Expect a rental yield of 4-6%.

Properties near educational institutions or with features catering to students and academics, like high-speed internet and quiet study areas, are ideal.

However, be aware of the lower income during university holidays and potential wear from student tenants.

Ville Nouvelle

Known for its modern amenities and lifestyle, Ville Nouvelle attracts a mix of expatriates and affluent locals.

High-end apartments and villas in Ville Nouvelle are in demand, with rental incomes ranging from $700 to $1,200 per month. The rental yield in Ville Nouvelle can be around 6-8%.

Properties with modern designs, security, and amenities like pools and gyms are preferred.

The challenge in Ville Nouvelle is the higher initial investment and competition with other luxury properties.

Don't lose money on your property in Fes

100% of people who have lost money in Morocco have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.

invest real estate in Fes

Areas in Fes where property prices might increase in the future

In these areas in in Fes you can still find properties at a reasonable price, with room for appreciation as the neighborhoods develop.

Neighborhood Tenant Type Property Type Average Price/Night Tips Weaknesses
Medina Tourists Riads, Apartments $50-$100 Near attractions, authentic experience High competition, active management
Batha Tourists, Cultural Enthusiasts Houses, Boutique Stays $40-$80 Cultural experiences, event stays Seasonal demand, marketing needed
Jnan Sbil Peace Seekers Apartments, Guesthouses $30-$60 Garden views, nature access Less central, specific audience


Medina's appeal for short-term rentals lies in its historic charm and central location.

Tourists and short-term visitors prefer traditional riads and apartments in Medina. Amenities like Wi-Fi, proximity to landmarks, and authentic decor are in demand.

Average nightly rates in Medina are about $50-$100. To maximize occupancy, properties should be close to major attractions and offer local experiences.

However, competition is high, and managing short-term rentals requires more hands-on involvement.


Popular for its proximity to cultural sites and festivals, Batha attracts tourists and cultural enthusiasts.

Traditional houses and boutique accommodations in Batha are sought after, with nightly rates around $40-$80.

Properties offering unique cultural experiences or event-based stays in Batha are more lucrative.

The downside is the seasonal fluctuation in demand and the need for continuous marketing.

Jnan Sbil

This area, known for its gardens and serene ambiance, is perfect for those seeking a peaceful retreat.

Small apartments and guesthouses in Jnan Sbil are popular, with prices ranging from $30 to $60 per night.

Properties with garden views or access to nature trails are highly valued.

However, it's a bit removed from the city's hustle, which might not appeal to all tourists.

Make sure you understand the real estate market in Fes

Don't rush into buying the wrong property in Morocco. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

real estate market Fes