English
Login
Real estate prices in Morocco 2024 : market evolution reference
The real estate market in Morocco continues to capture the attention of buyers, investors, and industry professionals. After a year in 2023 marked by slight fluctuations in prices in major cities, 2024 is expected to be a year of consolidation with specific variations depending on the regions. This 2024 real estate price reference provides a clear analysis of average apartment and villa prices in Morocco's major cities, reflecting the trends observed on the ground.
Real estate prices in Casablanca
Casablanca, as Morocco's economic engine, remains a sought-after city for real estate transactions. In 2024, the average price of apartments in the city has slightly increased to 13,900 MAD/m², compared to 13,598 MAD/m² in 2023. Villas, on the other hand, continue to display high prices, with an average remaining stable around 20,500 MAD/m², confirming the appeal of luxury properties in neighborhoods like Anfa, Les Princesses, or Gauthier.
Casablanca remains a top choice for investors, especially thanks to its advanced infrastructure and its status as the country’s financial hub. The demand for high-end properties in residential areas and more affordable apartments in peripheral zones such as Aïn Sebaâ and Maarif Extension continues to drive the market.
The real estate market in Rabat
In Rabat, the administrative capital, the real estate market also shows a slight increase in 2024. The average price of apartments has risen to 14,500 MAD/m², compared to 14,197 MAD/m² in 2023. This increase reflects growing demand for properties located in well-connected neighborhoods like Hay Riad, Agdal, and Souissi.
For villas, prices remain around 20,300 MAD/m², making it a stable and attractive market for investors seeking secure returns. The Rabat area is increasingly appreciated for its peaceful environment and infrastructure, making it a preferred choice for families and government officials.
Trends in Marrakech
Marrakech, the iconic city for tourism and second homes, continues to attract both Moroccan and foreign buyers. In 2024, the average price of apartments in Marrakech remains competitive, around 13,000 MAD/m², a slight increase from 12,955 MAD/m² in 2023. Villas are sold on average for 20,700 MAD/m², compared to 20,400 MAD/m² the previous year, confirming stable demand for luxury properties, particularly in neighborhoods like La Palmeraie, Guéliz, and Hivernage.
Demand in Marrakech is largely driven by foreign buyers, particularly Europeans, drawn by the lifestyle and investment opportunities. Investors continue to favor properties located in tourist areas or near the historic center.
Outlook for 2024
2024 is expected to be a period of stability with moderate increases in certain areas, particularly in Casablanca and Rabat. Prices for villas in prime neighborhoods remain high, while apartments in more affordable areas see growing demand. This year, rental investments and the pursuit of returns seem to dominate transactions, especially in cities like Marrakech, Rabat, and Casablanca.
Moderate inflation and the relative stability of interest rates also support the real estate market, although some experts anticipate a rise in construction costs due to global supply chain disruptions.
