Is right now a good time to buy a property in Marrakech? (2026)

Authored by the expert who managed and guided the team behind the Morocco Property Pack

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

Is it smart to buy now in Marrakech, or should I wait as of 2026?

Do real estate prices look too high in Marrakech as of 2026?

As of early 2026, Marrakech property prices appear stretched but not obviously overvalued, with the official Bank Al-Maghrib IPAI index showing residential prices up just 1.4% quarter-on-quarter in Q3 2025, which suggests warmth rather than mania.

One clear on-the-ground signal that supports this reading is that overall transaction volumes in Marrakech were slightly down (around 0.5% quarter-on-quarter) while prices continued rising, which typically means sellers are holding firm and buyers are being selective rather than panic-buying.

Another useful indicator is that listings for certain property types, particularly over-renovated riads or villas priced as trophy assets, tend to sit longer on the market, suggesting that the top end is where price resistance shows up first in Marrakech.

You can also read our latest update regarding the housing prices in Marrakech.

Does a property price drop look likely in Marrakech as of 2026?

As of early 2026, the likelihood of a meaningful property price decline in Marrakech over the next 12 months is low, because the combination of stable interest rates, record tourism, and continued foreign buyer interest creates a supportive demand floor.

The plausible price change range for Marrakech over the next 12 months is roughly flat to up 5%, with downside limited to maybe 2-3% in a stress scenario and upside potentially reaching 6-7% if tourism and investor demand accelerate.

The single most important macro factor that could increase the odds of a price drop specifically in Marrakech would be a sharp rise in mortgage rates, because higher borrowing costs would squeeze local buyers out and reduce transaction volumes significantly.

However, this factor is unlikely to materialize soon, since Bank Al-Maghrib held its key rate steady at 2.25% in December 2025 and inflation is projected to remain around 1.8% in 2026, which gives the central bank little reason to hike.

Finally, please note that we cover the price trends for next year in our pack about the property market in Marrakech.

Could property prices jump again in Marrakech as of 2026?

As of early 2026, the likelihood of a renewed price surge in Marrakech within the next 12 months is medium, because the city's unique tourism-driven demand can re-accelerate faster than national averages when visitor numbers spike.

The plausible upside price change range for Marrakech over the next 12 months is 4% to 7%, concentrated in high-demand neighborhoods like Gueliz, Hivernage, and the Medina where rental yields and resale liquidity are strongest.

The single biggest demand-side trigger that could drive prices to jump again specifically in Marrakech is a continued surge in international tourism, because Morocco just recorded 19.8 million visitors in 2025 and is targeting 26 million by 2030 with massive World Cup-related infrastructure investments.

Please also note that we regularly publish and update real estate price forecasts for Marrakech here.

Are we in a buyer or a seller market in Marrakech as of 2026?

As of early 2026, Marrakech is in a balanced-to-slight-seller market, meaning well-priced properties in desirable areas like Gueliz, Hivernage, or Palmeraie still move relatively quickly, but overpriced listings sit and eventually require negotiation.

While Marrakech does not publish an official months-of-inventory figure like some Western markets, the combination of prices still rising while transactions are flat suggests roughly 4 to 6 months of effective supply, which typically means neither buyers nor sellers have overwhelming bargaining power.

The share of listings with price reductions is harder to track officially in Marrakech, but based on transaction patterns, it appears that perhaps 15% to 25% of listings end up selling below initial asking prices, suggesting sellers still have some leverage but must price realistically to close deals.

Are homes overpriced, or fairly priced in Marrakech as of 2026?

Are homes overpriced versus rents or versus incomes in Marrakech as of 2026?

As of early 2026, Marrakech homes appear stretched versus local incomes but closer to fair value versus achievable rents, especially for properties positioned for furnished short-term rental demand from tourists and expatriates.

The estimated price-to-rent ratio in Marrakech sits around 11 to 14 years for well-located apartments in Gueliz or Hivernage, which is reasonable compared to the 20-plus years you might see in overheated European cities, and it suggests rental income can still justify purchase prices.

The estimated price-to-income multiple in Marrakech is harder to pin down because local incomes alone do not explain prices, but rough estimates suggest property costs around 15 to 20 times median household income, which would be high by global standards but is typical for tourism-driven markets where foreign and diaspora buyers set the marginal price.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Marrakech.

Are home prices above the long-term average in Marrakech as of 2026?

As of early 2026, Marrakech home prices are modestly above their long-term nominal trend but not dramatically so, with the BIS-based real (inflation-adjusted) price series for Morocco showing steady rather than explosive growth over the past decade.

The estimated recent 12-month price change in Marrakech is around 3% to 5% in nominal terms, which is actually slower than the pre-pandemic pace in some years and suggests the market has normalized rather than re-entered boom territory.

When adjusted for inflation, Marrakech prices are roughly in line with or slightly above their prior cycle peak, but they are not at levels that would suggest an obvious mean-reversion drop is imminent.

What local changes could move prices in Marrakech as of 2026?

Are big infrastructure projects coming to Marrakech as of 2026?

As of early 2026, the biggest infrastructure driver for Marrakech property prices is the cluster of 2030 FIFA World Cup investments, including airport capacity expansions and plans to extend high-speed rail from Casablanca to Marrakech, which could significantly improve connectivity and boost property values in well-connected neighborhoods.

The estimated timeline for these projects shows airport upgrades already underway with completion targeted before 2030, while the high-speed rail extension is in planning and funding stages with a delivery window likely in the late 2020s, meaning the price impact will be gradual rather than immediate.

For the latest updates on the local projects, you can read our property market analysis about Marrakech here.

Are zoning or building rules changing in Marrakech as of 2026?

The most important zoning change being discussed in Marrakech involves sector plan updates visible through the Agence Urbaine de Marrakech platform, including public inquiry processes for areas like Marrakech Ouest and Mhamid Sud that could unlock new residential supply.

As of early 2026, the estimated net effect of these zoning changes on prices is likely neutral to slightly negative for areas where new supply gets unlocked, because more competition from new apartments and townhouse projects can cap price growth, while protected zones with limited supply could see tighter markets.

The type of area most affected by these rule changes in Marrakech would be peripheral expansion zones to the west and south of the city, where new mid-rise residential developments could emerge, as opposed to the Medina or established Gueliz core where zoning is already mature.

Are foreign-buyer or mortgage rules changing in Marrakech as of 2026?

As of early 2026, there are no major foreign-buyer restrictions being introduced in Morocco, and mortgage rules remain stable with average real estate loan rates around 5.2%, which means the regulatory environment continues to be relatively welcoming for both local and international purchasers.

The most relevant foreign-buyer rule update in recent years was the January 2024 Office des Changes instruction (IGOC), which updated foreign exchange procedures for property transactions but did not restrict foreign ownership, instead clarifying repatriation mechanics for rental income and resale proceeds.

On the mortgage side, the main consideration for buyers in Marrakech is that rates have remained stable around 5% to 5.2%, and with inflation under control, there is no immediate pressure for rate hikes that would squeeze borrowers or reduce purchasing power.

You can also read our latest update about mortgage and interest rates in Morocco.

Will it be easy to find tenants in Marrakech as of 2026?

Is the renter pool growing faster than new supply in Marrakech as of 2026?

As of early 2026, renter demand in Marrakech appears to be growing at least as fast as new rental supply, driven by record tourism (19.8 million visitors to Morocco in 2025), a steady expatriate community, and strong furnished rental demand in neighborhoods like Gueliz and Hivernage.

The best signal for renter demand growth in Marrakech is the tourism sector itself, which saw 14% year-on-year growth in 2025 and is targeting 26 million visitors by 2030, meaning short-term and medium-term rental demand should continue expanding.

On the supply side, new construction permits in Marrakech have increased but remain concentrated in peripheral areas, while prime rental neighborhoods like Gueliz, Hivernage, and the Medina core have limited new inventory coming online, which keeps rental markets relatively tight.

Are days-on-market for rentals falling in Marrakech as of 2026?

As of early 2026, days-on-market for rentals in prime Marrakech areas like Gueliz, Hivernage, and well-positioned Medina riads is likely stable to falling, because tourism-driven furnished demand remains strong and quality inventory is relatively scarce.

The difference in days-on-market between best areas and weaker areas in Marrakech can be significant: a well-furnished apartment in Victor Hugo or Hivernage might rent within 1 to 3 weeks, while a poorly located or outdated unit in peripheral areas could sit for 2 months or more.

One common reason days-on-market falls in Marrakech is the seasonal tourism surge, particularly from October through May when European visitors and long-stay renters are most active, compressing rental timeframes in popular neighborhoods.

Are vacancies dropping in the best areas of Marrakech as of 2026?

As of early 2026, vacancies in the best-performing rental areas of Marrakech, specifically Gueliz, Hivernage, Agdal, and well-maintained Medina riads, appear to be stable or slightly dropping because tourism-linked demand continues absorbing quality inventory.

The vacancy rate in these best areas is structurally lower than the citywide average, likely in the 5% to 10% range for quality furnished rentals compared to perhaps 15% or higher in less desirable peripheral areas or poorly maintained buildings.

One practical sign that landlords can watch for to know the best areas are tightening is when prospective tenants are willing to commit to longer lease terms upfront or pay several months in advance, which signals strong demand and limited alternatives in the market.

By the way, we've written a blog article detailing what are the current rent levels in Marrakech.

Am I buying into a tightening market in Marrakech as of 2026?

Is for-sale inventory shrinking in Marrakech as of 2026?

As of early 2026, we cannot confirm with high confidence whether for-sale inventory in Marrakech is shrinking year-over-year because Morocco does not publish an official active listings count, but the combination of rising prices with flat transactions suggests sellers are holding rather than flooding the market.

The closest proxy to months-of-supply in Marrakech is the price-to-transaction pattern from the IPAI, which currently suggests a roughly balanced market with perhaps 4 to 6 months of effective supply, not dramatically tight but not loose either.

One likely reason inventory feels constrained in Marrakech is that existing owners, especially those who bought at lower prices in previous years, are reluctant to sell into uncertainty, preferring to hold and rent rather than realize gains and face reinvestment challenges.

Are homes selling faster in Marrakech as of 2026?

As of early 2026, we cannot precisely estimate median days-on-market for home sales in Marrakech because there is no official tracking, but transaction data suggests the market is moving fastest for specific property types, particularly villas (up 25.5% in Q3 2025 transactions) and standalone houses (up 9.2%), while apartments are flatter.

The year-over-year change in selling speed appears mixed: well-located villas in Palmeraie or golf-adjacent areas are likely selling faster than last year due to strong foreign and diaspora demand, while generic apartments in less desirable areas may be taking longer.

Are new listings slowing down in Marrakech as of 2026?

As of early 2026, we are not confident in a precise estimate of year-over-year new listing changes in Marrakech because no official series exists, but anecdotal evidence suggests new listings are stable rather than surging, which keeps supply from overwhelming demand.

The seasonal pattern for new listings in Marrakech typically shows more activity in spring and early fall when sellers anticipate buying interest, while summer and Ramadan periods tend to be slower, and current levels do not appear unusually low or high.

One plausible reason new listings might be constrained in Marrakech is that owners who purchased at attractive prices in previous years are choosing to hold and earn rental income rather than sell, especially given the strong tourism-driven rental market.

Is new construction failing to keep up in Marrakech as of 2026?

As of early 2026, there appears to be a gap between new housing completions and demand in Marrakech's prime neighborhoods, because construction is concentrated in peripheral areas while the most desirable zones like Gueliz, Hivernage, and the Medina have limited new supply.

The recent trend in construction permits for Marrakech showed an increase of around 8% in 2024, but much of this activity is in outer expansion areas rather than the established neighborhoods where rental and resale demand is strongest.

The single biggest bottleneck limiting new construction in prime Marrakech areas is land availability and zoning, because the Medina is protected, Gueliz is largely built out, and Palmeraie has environmental and density restrictions that constrain new development.

Will it be easy to sell later in Marrakech as of 2026?

Is resale liquidity strong enough in Marrakech as of 2026?

As of early 2026, resale liquidity in Marrakech is generally strong for correctly priced properties in desirable neighborhoods, meaning sellers who price realistically in Gueliz, Hivernage, or Palmeraie can typically find buyers within a few months rather than facing indefinite waits.

While there is no official median days-on-market figure for resales in Marrakech, industry observations suggest that well-priced, well-located properties can sell in 2 to 4 months, which is reasonably healthy compared to less liquid markets where 6 to 12 months is common.

One property characteristic that most improves resale liquidity specifically in Marrakech is location within a "known" neighborhood that international buyers recognize, because foreign and diaspora purchasers often rely on neighborhood reputation (Gueliz, Hivernage, Medina, Palmeraie) rather than doing deep micro-location research.

Is selling time getting longer in Marrakech as of 2026?

As of early 2026, selling time in Marrakech appears stable rather than lengthening, because the combination of continued price growth and steady transaction volumes suggests buyers are still active, though they are being more selective about what they purchase.

The realistic range for selling time in Marrakech runs from perhaps 6 to 8 weeks for a well-priced apartment in Gueliz up to 6 months or more for a unique or overpriced property like a large riad requiring renovation.

One clear reason selling time can lengthen specifically in Marrakech is when sellers anchor to an unrealistic price based on emotional attachment or hearsay, because international buyers are often price-sensitive and will simply wait or look elsewhere rather than overpay.

Is it realistic to exit with profit in Marrakech as of 2026?

As of early 2026, the likelihood of selling with a profit in Marrakech given a typical holding period is medium to high, provided you hold for at least 3 to 5 years and buy at a reasonable price rather than at the top of an asking range.

The estimated minimum holding period in Marrakech that most often makes exiting with profit realistic is around 4 to 5 years, which allows enough time for price appreciation to offset transaction costs and absorb any short-term market fluctuations.

The estimated total round-trip cost drag in Marrakech, including buying costs (registration duties, notary fees, land registry) and selling costs, is roughly 8% to 12% of property value, or approximately 80,000 to 120,000 MAD ($8,000 to $13,000 / 7,500 to 12,000 EUR) on a 1 million MAD property.

One clear factor that most increases profit odds specifically in Marrakech is buying at a discount through negotiation or distressed sales, because starting below market value gives you a cushion that makes profitable exit much more achievable even in flat markets.

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 Marrakech, 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.