Current trends in the Marrakech property market

The property boom in Marrakech

Marrakech, nicknamed the "Red City" or "Pearl of the South", is a fascinating Moroccan city that attracts thousands of tourists from all over the world every year. But in recent years, it has also become a prime location for property investors. Indeed, the city is experiencing an unprecedented boom in the property sector, both in terms of residential development and tourism.

The city's growing popularity is largely due to its pleasant year-round climate and rich cultural heritage, as well as Morocco's political and economic stability, which make it a safe place to invest.

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Strong demand for property in Marrakech

Demand for property in Marrakech is very strong, from both local buyers and foreign investors. The latter are attracted by the city's quality of life, cultural and tourist attractions, and affordable cost of living. What's more, the measures put in place by the Moroccan government to encourage foreign investment have largely contributed to this rush to Marrakech.

At the same time, Morocco's burgeoning middle class also has strong purchasing power, boosting demand for property in the city. More and more Moroccans are looking to buy a second home in Marrakesh to spend their weekends or holidays here.

Rising property prices in Marrakech

With this strong demand, property prices in Marrakech have risen considerably in recent years. However, they are still relatively affordable compared with other tourist cities such as Paris or Barcelona.

According to the property barometer of the Bourse du Maroc group, the average price per square metre in the city is around €3,000, but this varies according to the district and the quality of the property. The most sought-after areas, such as Guéliz, Hivernage and the Hivernage district, record the highest prices.

Luxury villas with swimming pools and views of the Atlas mountains are the most sought-after properties for foreign investors, and can fetch prices of up to €20,000 per square metre.

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Hot property sectors in Marrakech

As well as residential property, investors are also very attracted by Marrakech's tourism sector, which has boomed in recent years. Numerous luxury hotel complexes, holiday homes and golf courses have been developed to cater for the influx of tourists to the city.

But that's not all: the commercial property sector is also booming in Marrakech, particularly in the Guéliz and Avenue Mohammed VI shopping areas. Major international brands, shopping centres and offices are attracting more and more investors.

Competition between property developers

Faced with this strong demand and rising property prices, many property developers have set up in Marrakech, creating fierce competition between them. This competition is pushing developers to offer high-quality, modern properties with top-of-the-range finishes to attract customers.

What's more, developers also have to respond to the growing demand for environmentally-friendly properties. As a result, many new developments in Marrakech are being built using environmentally-friendly materials and energy-efficient equipment.

Sustainability at the heart of property projects

In the interests of sustainability, more and more property developments in Marrakech are incorporating eco-friendly features such as solar panels, rainwater recovery systems and green gardens. This trend is part of a desire to protect the environment and meet the expectations of customers who are increasingly concerned about the ecological impact of their investment.

Conclusion

En somme, le marché immobilier in Marrakech est en pleine expansion, porté par la forte demande pour les biens résidentiels, touristiques et commerciaux. Avec des prix attractifs, une croissance économique constante et un cadre de vie de qualité, cette ville marocaine ne cesse d’attirer les investisseurs en quête d’un investissement sûr et rentable. Toutefois, il est important de bien se renseigner et de s’entourer d’experts afin de réussir son investissement immobilier à Marrakech.