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What is happening in Morocco’s real estate market? Are prices on the rise or decline? Is Marrakech still a magnet for international investors? How are Morocco’s government policies and taxes shaping the real estate landscape in 2025?
These are the questions we hear every day from professionals, buyers, and sellers across the country, from Casablanca to Tangier and beyond. Maybe you’re curious about these trends too.
We understand this because we stay closely connected with local experts and individuals like you, exploring the Moroccan real estate market daily. That’s why we crafted this article: to deliver clear answers, insightful analysis, and a comprehensive view of market trends and dynamics.
Our aim is straightforward: to make sure you feel informed and confident about the market without needing to search elsewhere. If you think we missed something or could improve, we’d love to hear your feedback. Feel free to message us with your thoughts, and we’ll strive to enhance this content for you.
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1) Affordable housing prices will increase as demand from young families grows
In Morocco, the number of young families is on the rise.
With nearly 9.96 million children aged 0-14 years in 2023, there's a growing base of young families eager to find homes. This surge is particularly noticeable in urban areas, where families are drawn by the allure of city life and new sociocultural opportunities. As more families move to cities, the demand for housing in these regions naturally increases.
The Moroccan government is stepping up to support these families. They've rolled out a scheme that offers financial aid to first-time homebuyers, making it easier for young families to purchase homes. This initiative is further fueling the demand for housing as more families take advantage of the assistance.
Urbanization is a key factor here. Cities are seen as ideal places for new beginnings, and this trend is reshaping the housing market. The influx of young families into urban areas is driving up the demand for affordable housing, which is expected to lead to a rise in prices.
For those considering buying property in Morocco, it's important to understand these dynamics. The combination of a young population, government support, and urbanization is creating a competitive housing market. As demand continues to grow, affordable housing prices are likely to rise, making it a crucial time to consider investment opportunities.
Sources: Statista, Chaire UNESCO, Hespress
2) Morocco’s property prices will rise moderately as the economy recovers after the pandemic
In Morocco, property transactions are on the rise, especially in cities like Fes.
While Casablanca and Marrakech initially saw fewer deals, the overall trend is positive, hinting at a moderate increase in property prices as interest grows. This is partly due to foreign investment, which has been a game-changer for the real estate market. By 2024, foreign direct investment in real estate had jumped by over 55%, bringing more players into the market and pushing prices up.
Government efforts are also making waves. The 2025 Finance Bill is packed with incentives to lure foreign investors, especially in booming sectors like automotive and green hydrogen. These initiatives aim to boost the economy, which in turn can drive up demand for properties.
Morocco's economy is on the mend, with GDP growth expected to hit 3.5% in 2024 and 4.0% in 2025. A stronger economy usually means people feel more confident about spending, including on real estate. This economic upswing is likely to fuel the property market further.
For those eyeing a property purchase in Morocco, these trends suggest a promising outlook. The combination of increased foreign investment, government initiatives, and a recovering economy paints a picture of a vibrant real estate market.
Sources: Statista, Hespress, OECD Economic Surveys
We have made this infographic to give you a quick and clear snapshot of the property market in Morocco. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Asian investors will start seeking opportunities in Morocco’s expanding real estate market
Asian investors are eyeing Morocco's real estate market for some pretty compelling reasons.
One big draw is the surge in foreign direct investment (FDI) from Asia, especially China. Over the last couple of years, the number of greenfield FDI projects announced in Morocco has skyrocketed, with China making up nearly 30% of these announcements in 2022-23. This shows a strong interest and confidence in Morocco's potential.
The Moroccan government is rolling out the red carpet for foreign investors. They've introduced tax incentives and simplified property purchase processes, making it a breeze for Asian investors to dive into the market. These policies are designed to make Morocco an attractive destination for real estate investment.
Tourism from Asia is on the rise, particularly from China, which is another positive sign. Since Morocco waived visas for Chinese tourists back in 2016, there's been a noticeable increase in Chinese visitors. This uptick suggests that there's growing interest in Morocco, not just for travel but potentially for real estate investments too.
Media outlets are buzzing about Morocco's real estate market, highlighting its appeal to foreign investors, including those from Asia. This coverage adds to the allure, painting Morocco as a promising place for investment. The combination of government incentives, rising tourism, and media attention creates a perfect storm for attracting Asian investors.
Sources: BNP Paribas, Yabiladi, Dragon Trail, BH ADVISER
4) North African expats will invest in Moroccan properties as a secure wealth haven
North African expatriates are increasingly seeing Moroccan properties as a safe haven for their wealth.
In 2023 and 2024, property prices in Morocco surged, with the average home price reaching $225,000 by July 2024. This represents a 75.8% increase from the previous year, making it a hot market for investors. The price per square foot also climbed by 66.2%, showing strong market growth.
The Moroccan government is actively encouraging foreign investment in real estate. They offer incentives like tax relief and investment subsidies, making it an attractive option for expatriates. The stability of the Moroccan dirham compared to other regional currencies adds another layer of security for investors.
Surveys indicate a growing interest among expatriates in Moroccan real estate. An Ipsos survey found that 65% of respondents plan a major purchase in 2025, with many eyeing real estate. Media coverage often highlights Morocco as a stable investment destination, further fueling this interest.
Sources: Aparthotel, DBS Morocco, Ipsos, Celestia Invest
5) Urban rental yields will rise as more people relocate to cities for job opportunities
Rental yields in urban centers are set to rise as more people flock to cities for job opportunities.
In Morocco, urban living is becoming the norm, with 65.12% of the population already in cities as of 2023, and this is expected to grow to 67.8% by 2030. This shift means more people are on the hunt for city homes, pushing up demand for rentals. Cities like Casablanca, Marrakech, and Rabat are seeing a surge in rental demand, partly due to urbanization and events like the 2025 AFCON, which will draw in visitors and professionals looking for short-term stays.
Job growth in these urban centers is on the rise, thanks to the expanding middle class and new business districts. This boom in employment opportunities is a magnet for people, further driving the need for housing. Infrastructure improvements, such as better roads, airports, and tram lines, are making cities more accessible and appealing, which in turn boosts real estate demand.
Casablanca and Marrakech are not just cultural hotspots; they're becoming business magnets too. The development of new commercial hubs is attracting professionals and businesses, which means rental demand is climbing. Young professionals in Morocco are increasingly drawn to city life, adding to the rental demand.
With more people moving to urban areas, the need for housing is growing. This trend is particularly evident in cities with expanding business districts and improved infrastructure. As cities become more accessible and job opportunities increase, the demand for rental properties is expected to rise.
Sources: Statista, OECD, Housing Place
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6) Short-term rental yields will increase in tourist hotspots like Marrakech and Tangier
Tourist hotspots like Marrakech and Tangier are seeing a notable rise in short-term rental yields.
With more visitors flocking to these vibrant cities, the demand for short-term rentals is naturally climbing. By October 2024, Morocco welcomed 14.6 million tourists, a jump of 19% from the previous year. This influx is largely driven by foreign tourists, who contributed to a 22% increase in numbers. Such a surge in tourism means more people are looking for places to stay, boosting the short-term rental market.
In Tangier, the scene is buzzing with activity. Airport arrivals shot up by 24% in August 2023 compared to two years prior, showing a strong recovery from the pandemic. This uptick in arrivals hints at a growing appetite for rental properties, as more tourists choose to explore the city.
Platforms like Airbnb are becoming increasingly popular in these Moroccan tourist hubs. This trend indicates that travelers are leaning towards short-term rentals instead of traditional hotels, which could lead to higher rental yields. Tangier's charm, along with its ongoing development projects, suggests that the average daily rates for these rentals might be on the rise.
In Marrakech, the story is similar. The city's allure, with its rich culture and bustling markets, continues to draw in tourists. This steady stream of visitors is likely to keep the short-term rental market thriving, offering property owners a chance to capitalize on the increased demand.
As these cities continue to attract tourists, the short-term rental market is poised for growth. The combination of rising tourist numbers and the popularity of rental platforms is setting the stage for higher yields in the coming years.
Sources: Riotimes Online, Gowithguide, Global Property Guide
7) Stricter property development regulations will promote sustainable growth
Stricter regulations on property development are paving the way for sustainable growth in Morocco.
In recent years, Morocco has embraced eco-friendly building certifications like EDGE and IMANOR, which are gaining popularity. These certifications are not just labels; they represent a shift towards resource-efficient construction. This trend is a clear indication that regulations are effectively encouraging sustainable practices in the building industry.
The Moroccan government is also serious about environmental impact assessments. By 2024, they had rolled out decrees to ensure these assessments are transparent and accountable. This means that new developments are now more likely to consider their environmental impact, which is crucial for sustainable urban growth.
Looking ahead, the government's Draft Long-Term Low Emissions Development Strategy is set to boost the share of renewable energy by 2030. This ambitious plan aims to reduce greenhouse gas emissions, aligning property development with broader environmental goals.
There's also a financial upside to all this. By 2024, Morocco had put in place procedures to attract investment in renewable energy. This move highlights how regulations can drive economic growth by drawing in green infrastructure projects.
These efforts are not just about going green; they're about ensuring that property development is sustainable and economically viable. The focus on eco-friendly practices and renewable energy is a win-win, showing that regulations can support both the environment and the economy.
Sources: Baker McKenzie, IMF eLibrary, Chambers Practice Guides
8) Government initiatives will aim to enhance housing affordability for low-income families
The Moroccan government is making strides to improve housing affordability for low-income families.
In 2025, they announced a public investment plan of MAD340 billion, focusing heavily on social projects like housing. This substantial budget allocation underscores their commitment to tackling housing issues for those in need.
The demand for affordable housing is on the rise, especially among low- and middle-income households, single mothers, and widows. The government plans to build two million social housing units to address this growing need.
Morocco is currently facing a housing deficit of about 400,000 units. This shortage is mainly due to the limited supply of social housing and the high costs imposed by property developers.
Government intervention is crucial to increase the availability of affordable housing, given the high cost of housing produced by property developers. This intervention aims to bridge the gap between supply and demand.
These efforts are part of a broader strategy to ensure that low-income families have access to affordable housing, which is essential for improving their quality of life.
Sources: Barlaman Today, Ecofin Agency, Reall
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.
9) Fez will attract interest in its historical properties with the rise of cultural tourism
Fez is becoming a hotspot for cultural tourism, drawing over 1.5 million visitors in 2023.
At the heart of this surge is the city's historic Medina, a UNESCO World Heritage Site since 1981, which captivates those eager for authentic cultural experiences. Its narrow alleys and ancient architecture offer a glimpse into a world that feels untouched by time, making it a magnet for history enthusiasts.
Fez's charm isn't just in its past; it's also in the present buzz. In January 2024, the city was ranked among the top ten global cultural destinations, a nod to its vibrant cultural scene and historical depth. This recognition is like a spotlight, drawing even more curious travelers to explore its treasures.
For those considering property investment, Fez offers a unique opportunity. The city's growing reputation as a cultural hub means that property values are likely to rise as more tourists flock to experience its rich heritage. Investing in Fez now could be a smart move as the city's allure continues to grow.
Insider tip: the local government is actively working on preservation projects to maintain the Medina's authenticity, ensuring that its charm remains intact for future generations. This commitment to preservation not only protects the city's heritage but also enhances its appeal to tourists and investors alike.
With cultural tourism on the rise, Fez is poised to become an even more attractive destination. The city's blend of history, culture, and modern recognition makes it a compelling choice for those looking to invest in a place with a rich past and a promising future.
Sources: Atalayar, I2UD, WJARR
10) Young professionals will boost demand for modern apartments in city centers
Young professionals in Morocco are flocking to urban centers like Casablanca, Rabat, and Marrakech.
In recent years, nearly 70% of Moroccans under 30 have shown a desire to move to cities, seeking better opportunities and a vibrant lifestyle. This shift is reshaping the housing market, with a noticeable trend towards urban living among the youth.
As we move into 2024, the demand for modern apartments is surging, driven by young professionals who crave modern amenities and the buzz of city life. Real estate developers are responding with new projects in major cities, specifically targeting this eager demographic.
The Moroccan government is playing a crucial role by investing heavily in urban infrastructure, making these areas more economically attractive. This investment not only boosts job creation but also enhances the appeal of city living for young professionals.
With these developments, it's clear that young professionals are increasingly drawn to modern apartments in urban settings. The combination of job opportunities, modern living spaces, and improved infrastructure is a powerful magnet.
For those considering a property investment, understanding this trend is key. Urban centers are becoming hotspots for young buyers, making them prime locations for real estate ventures.
Sources: Freiheit.org, CRE Daily, Trade.gov
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.