The yields in Casablanca are clear: a 6% increase over twelve months, while Marrakech continues to attract buyers from outside, even though its demographic engine is slowing down. In Tangier, the industry brings a breath of dynamism, demand follows, but the rise in prices sometimes outpaces that of rents. The result? Investors must proceed with caution if they want to avoid missteps. Meanwhile, in Salé, the scarcity of new properties makes it challenging for tenants, while the gap between the city center and the outskirts gradually widens, redistributing the advantages and certainties of yesterday.
What Shapes the Moroccan Real Estate Dynamic in 2024: Rhythm, Players, and New Trends
The year 2024 sets a frantic pace for Moroccan real estate. Casablanca, Marrakech, Tangier: each major city presents its arguments and attracts both local and international audiences. The Franco-Moroccan tax convention dispels the previous hesitations of French buyers, as it guarantees that they will not be taxed twice on the same rental income. A climate of trust is established, and investment accelerates.
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On a daily basis, the reality on the ground is reflected through several factors. The convertible dirham system makes life easier for investors living abroad: no more struggles to transfer or repatriate funds. On the tax side, the purchase of new properties continues to be supported by a favorable regime, while the market in Marrakech or Tangier inspires stability. The figures reflect this: a yield that often hovers around 7 to 8%. In this regard, many buyers today prefer to invest in real estate in Morocco rather than risk saturated and unpredictable European markets.
To better understand this dynamic, a few benchmarks are necessary:
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- Apartments dominate significantly, accounting for 65% of acquisitions and 81% of rentals.
- Every transaction is finalized in front of a notary: a guarantee of security and transparency for each party.
- Banks are gradually opening up to the files of non-resident buyers, especially if the project is presented seriously.
On a national level, the real estate sector is energized by a demand driven by the desire for mobility among many Moroccans, the return of expatriates, and new profiles of investors, young, connected, and sometimes just passing through. This dynamism leads to rising rents and puts pressure on those looking to position themselves. To stay afloat, it’s better to learn to feel the market, neighborhood by neighborhood, and react quickly.
Casablanca, Marrakech, Tangier, Salé: Cities to Watch Closely
Casablanca stands out for those looking to invest in solidity. The Maârif or Hay Hassani sectors are gaining value: prices range from €1,080 to €1,800 per square meter, which maintains long-term performance for long-term rentals.
Marrakech has made short-term rentals its specialty. Guéliz and Hivernage, two central hubs, combine prime location, diverse offerings, and services. Properties start at €900/m² and easily climb to €1,350, depending on quality and address.
Tangier, boosted by industrial development and oriented towards Europe, appeals to young professionals and continues to attract more internationals. The Malabata neighborhood remains highly attractive for rentals: here, prices per square meter range from €900 to €1,440.
Salé, discreet yet undergoing transformation, capitalizes on new real estate programs and an offer that remains affordable. Many investors are betting on a rapid shift and future appreciation of the local market.
Investing Without Improvisation: The Rules of the Game in 2024
The acceleration affects all criteria: notary sales are increasing, rents are rising, tax measures remain attractive, and transfers via the convertible dirham simplify asset management from a distance. Along the Mediterranean, few markets have so many indicators aligned.
To gain clarity and not overlook details, a few parameters deserve particular attention:
- Rental yield: Approaching 8% in Marrakech and Tangier, supported by tourist flow and commercial dynamism.
- Price per square meter: Between €700 and €1,100 in Casablanca and Marrakech, levels that remain significantly accessible compared to other major markets.
- Property management: Engaging a reliable local agency helps maximize occupancy and avoid unpleasant surprises, especially for remote owners or in highly seasonal markets.
Acquiring a property in Morocco blindly can quickly turn into a headache: neglecting to compare neighborhoods, relying on a passing advisor, skipping a real notary, or betting on poorly assessed yields can lead to lost profitability. Diversifying investments – between apartments and houses, between long and short rentals – offers real protection against chronic disappointments. It is evident: monolithic or overly hasty strategies lead to regrets and painful adjustments.
In 2024, succeeding in Moroccan real estate means looking where no one else is yet looking. Daring to bet on a peripheral address, a less visible project, or a building simply waiting for the right hand: often, this is where the gaps widen, and the winning paths of tomorrow are drawn.