Your neighbor's sale price doesn't necessarily match yours
In the same residence, it's not uncommon to hear: “My neighbor sold at 25,000 DH/m², so my apartment must be worth at least that too.” This is one of the most common biases among sellers: the price they instinctively have in mind for their own property, before any online or professional valuation. In reality, two units in the same building, delivered the same year, can show a price-per-m² gap of more than 50%.
To prove it, we analyzed 9 real, anonymized transactions in a residence delivered in 2020, made up of two buildings — A and B — built around a central courtyard: Building A faces the courtyard and the street, Building B faces the courtyard and a public pedestrian palm grove. Same developer, same standing, same delivery year. And yet…
How is the price per m² calculated?
The price per m² used in this analysis is a weighted price per m². The abatement rates applied to balcony, terrace and parking space surfaces comply with the methodology of the Agence Nationale de la Conservation Foncière, du Cadastre et de la Cartographie (ANCFCC), Morocco's official land valuation authority.
This method — rather than a simple price / interior-surface division — allows a fair comparison between properties with different configurations (an oversized terrace vs. a compact studio, with or without parking).
Sample: 9 real transactions, residence delivered in 2020. An illustrative study meant to explain intra-residence valuation mechanics — not a national statistic.
What is the price per m² of each apartment in the residence?
| Unit | Building | Type | Surface | Floor | Price | Price/m² | View / orientation |
|---|---|---|---|---|---|---|---|
| A-1 | A | T2 | 75 m² | 1 | 1 814 000 DH | 25 326 DH/m² | Courtyard, low sunlight, distant overlook |
| A-2 | A | T2 | 76 m² | 6 | 1 510 000 DH | 20 828 DH/m² | Corner terrace, west-facing |
| A-3 | A | T2 | 74 m² | 13 | 1 920 000 DH | 27 138 DH/m² | High floor |
| A-4 | A | T1 | 65 m² | 2 | 1 500 000 DH | 23 857 DH/m² | West-facing, distant overlook |
| A-5 | A | T4 | 295 m² | 16 | 6 100 000 DH | 22 091 DH/m² | South-east, sunny, no overlook |
| B-1 | B | T2 | 86 m² | 1 | 1 400 000 DH | 17 231 DH/m² | Inner courtyard, north-east |
| B-2 | B | T1 | 77 m² | 8 | 1 675 000 DH | 22 828 DH/m² | Palm grove, no overlook, west |
| B-3 | B | T3 | 299 m² | 12 | 4 845 000 DH | 17 707 DH/m² | Palm grove, distant overlook |
| B-4 | B | T6 | 127 m² | 9 | 3 290 000 DH | 26 721 DH/m² | Palm grove, clear & sunny, west |
Gap between the highest and lowest price/m²: +57%. Same residence, same delivery year.
What do these numbers reveal about price per m²?
1. Does floor level set the price per m² in a straight line?
Three Type T2 units, same surface (~74-76 m²), same Building A: 1st floor at 25,326 DH/m², 6th floor at 20,828 DH/m², 13th floor at 27,138 DH/m². The ground floor isn't systematically the cheapest, and the middle floor isn't the fair middle ground either. Floor level alone explains nothing — it's its combination with view, orientation and overlook that creates value.
2. Does a palm grove view really push the price up?
In Building B, a unit with a clear, sunny palm grove view (26,721 DH/m²) sells 55% more per m² than a ground-floor unit facing the inner courtyard (17,231 DH/m²). An unobstructed view over green space, with no overlook, is one of the most valued criteria in the market. But beware: a large Building B unit (299 m², Type T3) with a palm grove view trades at only 17,707 DH/m² — among the lowest in the sample. Why? A dilution effect: the larger the outdoor surface (terraces, loggias) relative to the interior surface, the more the weighted price per m² mechanically drops, even with a beautiful view.
3. Do overlook and sunlight matter more than floor level?
The highest Building A unit (16th floor, no overlook at all, very sunny) shows a good price (22,091 DH/m²) — but not the best. A 1st-floor unit, despite being described as “low sunlight”, reaches 25,326 DH/m² thanks to a highly efficient interior layout and little diluting outdoor surface. Interior layout quality matters as much as floor level.
4. Why does price per m² drop as surface increases?
The two largest units in the sample (295 m² and 299 m²) show among the lowest prices per m², despite strong individual assets (high floor, no overlook, palm grove view). This is a common phenomenon: price per m² naturally declines with size, since large units often include a bigger share of terraces and circulation space, valued less than pure living space.
5. Does the listed price really reflect negotiation?
Each of the 9 prices per m² in this sample reflects an already-negotiated sale price — not the price initially listed. Time on market, seller urgency, buyer profile, financing capacity: all factors that mean the same property can sell with a 5%, 10%, even 15% swing depending on the negotiating leverage at play. Comparing your neighbor's price per m² without knowing whether they negotiated or sold at asking price means comparing two numbers that don't tell the same story.
What should you remember before pricing your apartment?
- Your neighbor's price/m² is not your price/m²
- Floor + orientation + overlook + view combined determine value — never a single isolated criterion
- The interior/exterior surface ratio strongly affects the weighted price per m²
- Large surfaces almost always trade at a lower price/m² than small typologies
- An unobstructed view with no overlook remains one of the most valued criteria in the Moroccan market
- The final price also depends on negotiation, not just the property's characteristics
FAQ
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