Is buying a property in Gueliz a good investment?

Last updated on December 14, 2023

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

If you've enjoyed the trendy boutiques and lively atmosphere of Gueliz, you may have thought about securing a property in this fashionable district of Marrakech, experiencing its chic lifestyle.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for Morocco, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Gueliz?

Gueliz, a vibrant district in Marrakech, Morocco, stands out as an attractive location for property buyers, offering a unique blend of modern amenities and traditional Moroccan charm.

This area, distinct from other real estate markets, has carved its niche by seamlessly merging contemporary urban living with a touch of historic essence.

Firstly, its cosmopolitan atmosphere is a significant draw. Unlike the more traditional and historical areas of Marrakech, such as the Medina, Gueliz is known for its modern infrastructure, bustling shopping areas, and an array of international restaurants and cafes. This contrast of old and new is particularly appealing to those looking for a blend of Moroccan culture and modern convenience.

Gueliz started gaining popularity as a real estate hotspot in the early 2000s. This surge in interest was due to various factors, including the area's urban development and its appeal to expatriates and affluent Moroccans. The district's growth coincided with Marrakech's overall rise as a major tourist and investment destination.

But will this hype remain? Well, considering the ongoing developments and the steady influx of both tourists and residents, it seems likely that Gueliz will continue to be a sought-after area.

The type of people attracted to Gueliz is diverse. It's a melting pot, appealing to young professionals, expatriates, and retirees alike. The area's modern apartments, high-end boutiques, and cultural venues like theaters and art galleries cater to a clientele that values both style and convenience.

However, it's also important to consider some potential drawbacks. The rapid development in Gueliz can lead to issues like increased traffic and a higher cost of living compared to other parts of Marrakech.

Additionally, for those seeking a more traditional Moroccan experience, Gueliz might feel too westernized.

In essence, Gueliz represents a unique fusion of Moroccan culture and modern lifestyle, making it an attractive option for a diverse range of property buyers.

Its blend of amenities and accessibility, coupled with its unique position in Marrakech, continue to draw interest from around the globe, despite some challenges that come with rapid urbanization.

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Why is Gueliz a nice place to live?

Gueliz offers a unique living experience, blending Moroccan tradition with contemporary lifestyle.

Living in Gueliz means immersing yourself in a vibrant, cosmopolitan atmosphere, quite different from the more historic parts of Marrakech.

The lifestyle and culture in Gueliz are marked by a blend of traditional Moroccan and modern influences. The area is known for its bustling streets lined with cafes, international restaurants, and high-end boutiques.

It's a place where you can enjoy the rich Moroccan cuisine and simultaneously find comfort in familiar international flavors. Cultural experiences abound, from art galleries showcasing contemporary Moroccan art to theaters presenting various performances.

Gueliz has a thriving expat community, making it a welcoming place for newcomers from around the world. This diverse community adds to the area's multicultural vibe, fostering an environment where different cultures and traditions are celebrated and shared.

Regarding living costs, Gueliz is considered one of the more upscale districts in Marrakech. While it offers a range of housing options, from modern apartments to luxury residences, the cost of living here is generally higher compared to other parts of the city. This is reflected in rental prices, dining, and shopping options.

Safety is a crucial factor for any place of residence, and Gueliz is known to be a relatively safe area. Like any bustling urban area, it's always wise to be mindful of your surroundings, but overall, residents and visitors often feel secure here.

The availability of amenities and facilities in Gueliz is a significant draw. For healthcare, there are facilities like the Polyclinique du Sud and the International Clinic of Marrakech. Educational needs are met by various international schools, such as the American School of Marrakech.

For shopping and leisure, the area boasts several malls and shopping centers, including Carré Eden and Plaza Marrakech, offering a wide range of shops and entertainment options.

Infrastructure in Gueliz is among the best in Marrakech. The roads are well-maintained, making commuting by car quite smooth. Utilities are generally reliable, and internet connectivity is strong, catering well to the needs of the modern resident and the expat community.

Accessibility is another strong point of Gueliz. It's well-connected to other parts of Marrakech, making it easy to explore the city. The area is also conveniently located near major transport hubs, such as Marrakech Menara Airport, making travel in and out of the city hassle-free.

Public transportation options in Gueliz include buses and taxis, which are readily available. The area is also pedestrian-friendly, with many residents choosing to walk to nearby attractions and amenities.

How much does it cost to buy real estate in Gueliz?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Morocco.

When considering buying property in Gueliz, it's important to understand the diverse range of residential properties available and the dynamics of the real estate market in this area.

In Gueliz, you'll find a variety of property types, including apartments, traditional houses, and luxury villas. Apartments, especially modern ones in new developments, are particularly in high demand.

This demand is driven by the area's urban lifestyle, proximity to amenities, and the appeal of contemporary living spaces. Houses and villas, while available, tend to cater to a different market segment, often those looking for more space or a more traditional Moroccan living experience.

The real estate landscape in Gueliz features a mix of new developments and resale properties. In recent years, there has been a trend towards the construction of new apartment complexes, designed to meet the growing demand for modern and luxury living spaces. These new developments often come with amenities like swimming pools, gyms, and security services, adding to their appeal.

Regarding pricing, properties in Gueliz can vary significantly based on factors like size, location, and amenities. As a rough guide, prices per square meter can range from moderate to quite high, reflecting the area's status as a sought-after urban district.

The exact figures can vary, but it's not uncommon to see prices per square meter in the range of several thousand dirhams, with luxury properties commanding even higher prices.

Over recent years, property values in Gueliz have seen an upward trend. This increase is attributed to the area's growing popularity, ongoing development projects, and its appeal to both domestic and international buyers.

As Marrakech continues to grow as a tourist and investment destination, areas like Gueliz benefit from this increased interest.

Looking forward, there are various factors that could influence the real estate market in Gueliz. Upcoming developments and city planning changes, such as new commercial or cultural venues, can significantly impact property values.

For instance, any major infrastructure project or new high-end development in the area could further elevate Gueliz's appeal.

Predicting the future of the real estate market is always speculative, but given the current trends and developments, it's reasonable to expect that Gueliz will continue to attract interest and investment.

Factors that indicate a potential increase in value include its ongoing urban development, the steady demand for modern living spaces, and Marrakech's overall growth as a major city.

Where is the best area to buy a property in Gueliz?

When you're looking to buy a property in Gueliz, it's important to consider the different areas within this district, as each offers a unique living experience, with variations in atmosphere, property types, and prices.

Gueliz, known for its vibrant and modern character, has several areas that cater to diverse preferences. For instance, the central part of Gueliz, around Avenue Mohammed V, is bustling with activity.

Here, you'll find a mix of residential and commercial properties, including apartments and retail spaces. This area is ideal for those who enjoy being in the heart of the action, close to cafes, restaurants, and shops.

On the other hand, if you prefer a quieter setting, the areas towards the outskirts of Gueliz might be more appealing. These areas offer a more relaxed atmosphere while still providing easy access to the amenities of central Gueliz. The properties here might be more affordable, and you can often find larger apartments or even houses.

In terms of up-and-coming areas within Gueliz, there are neighborhoods experiencing growth and development, attracting new investments. These areas might not have the same level of buzz as the central parts but offer the potential for value appreciation over time.

One such area is near the Marrakech Plaza, where new developments are emerging, presenting modern living options at potentially lower prices compared to the very center of Gueliz.

For those looking to buy a property in Gueliz, focusing on areas around major landmarks like Carré Eden or close to popular streets like Rue de la Liberté could be a good idea.

These locations offer a balanced mix of accessibility, modern amenities, and a lively urban atmosphere. They are well-suited for buyers who want a blend of convenience and the vibrant lifestyle that Gueliz is known for.

Conversely, areas that are too close to major traffic routes or construction sites in Gueliz might be less advisable. These locations can be noisy and congested, possibly detracting from the living experience.

Additionally, while being near nightlife venues might appeal to some, it could be a downside for those seeking a more peaceful environment.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Morocco.

Area	Atmosphere	Property Types	Price Range
Central Gueliz (Around Avenue Mohammed V)	Bustling, Urban	Residential and Commercial Properties, Apartments	Higher
Outskirts of Gueliz	Quieter, More Relaxed	Larger Apartments, Houses	More Affordable
Near Marrakech Plaza	Emerging, Developing	Modern Apartments	Moderate, Potential for Appreciation
Areas around Carré Eden, Rue de la Liberté	Lively, Convenient	Variety of Properties	Varies, Generally Higher
Near Major Traffic Routes, Construction Sites	Noisy, Congested	Varied	Varies, Possibly Lower due to Noise/Disruption

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Is there a strong rental demand in Gueliz?

In Gueliz, there is indeed a strong demand for rental properties, primarily driven by the area's appeal as a modern, cosmopolitan hub within the historical city.

The rental market in Gueliz caters to both short-term and long-term needs, but each has its unique dynamics and target demographics.

For short-term rentals, the demand is largely fueled by tourists and business travelers. Gueliz, with its lively atmosphere, abundance of cafes, restaurants, and proximity to key attractions in Marrakech, is a preferred location for those seeking a blend of comfort and convenience.

The target demographic for short-term rentals includes international tourists, couples, small families, and business professionals. These tenants typically look for properties that are fully furnished, with modern amenities, preferably located close to major attractions and transport links. Areas like near Avenue Mohammed V and around Carré Eden are particularly popular for short-term rentals.

In contrast, long-term rentals in Gueliz attract a different profile of tenants. These are often expatriates, professionals working in Marrakech, and sometimes students from international schools and universities. They tend to look for a mix of traditional and modern Moroccan living experiences.

Properties that are semi or unfurnished, offering more space, and perhaps with traditional Moroccan features, are in demand among this group. For long-term rentals, areas slightly away from the very center of Gueliz, where it's quieter yet still accessible, are often sought after.

Amenities play a crucial role in reducing vacancy rates in rental properties. Features such as air conditioning, secure parking, a balcony or terrace, and access to a swimming pool can significantly enhance the attractiveness of a property, especially for short-term rentals. For long-term tenants, aspects like internet connectivity, proximity to schools, and grocery stores are highly valued.

The potential returns on investment in Gueliz's rental market can be quite attractive. Estimation of returns depends on various factors like the property's location, size, amenities, and whether it's targeted at short-term or long-term renters.

Generally, well-located and well-maintained properties in popular areas can yield favorable returns. For short-term rentals, properties can command higher per-night rates, whereas long-term rentals offer the stability of a consistent income stream.

In terms of property types gaining more demand and potentially better yields, modern apartments in central locations are increasingly popular, especially for short-term rentals. These properties appeal to a broad range of tenants due to their convenience, modern facilities, and proximity to Gueliz's vibrant lifestyle offerings.

On the other hand, larger apartments or houses with unique features can be more attractive for long-term rentals, offering tenants a sense of home and community.

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Is it easy to buy a property as foreigner in Gueliz?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Morocco.

Buying property in Gueliz, Marrakech, as a foreigner is relatively straightforward, but it's important to be aware of the local regulations, the purchasing process, and potential risks.

Firstly, there are no specific regulations or restrictions that uniquely apply to foreign buyers in Morocco. Foreigners have the same rights as Moroccan citizens when it comes to buying property, which makes Gueliz an accessible market.

However, it's crucial to be aware of the legal and bureaucratic processes involved, which can differ significantly from those in other countries.

The purchasing process typically starts with finding a property. Once you've selected a property, a preliminary agreement (often referred to as a 'compromis de vente') is signed, and a deposit is paid. This agreement outlines the terms of the sale and is legally binding.

Following this, there's a due diligence period where necessary checks are carried out. The final step is signing the sale deed ('acte de vente') in front of a notary, at which point the remaining balance is paid, and ownership is transferred.

One primary risk associated with property investment in Gueliz, as with any foreign real estate market, is navigating the legal and regulatory landscape. This includes understanding property rights, taxes, and the intricacies of the local real estate market. A classic pitfall for foreign buyers in Morocco is not thoroughly researching the property's legal status.

For instance, ensuring the seller has a clear title to the property and there are no outstanding disputes or liens is critical. Additionally, understanding local customs and practices in property transactions is important.

Working with a local real estate agent or lawyer is highly advisable. They can provide valuable insights into the local market, help navigate the legal system, and ensure that all paperwork and procedures are correctly followed.

Their expertise can be especially valuable in avoiding common pitfalls, such as issues with property titles or navigating the local bureaucracy.

Common exit strategies for property investors in Gueliz include selling the property for capital appreciation or renting it out for income. The rental market, especially for short-term lets to tourists and expats, can be lucrative.

However, it's important to stay informed about the local property market trends and regulatory changes, as these can impact the viability of your investment over time.