Real Estate Purchase Prices in Marrakech
In 2025-2026, Marrakech real estate prices range from 8,000 to 25,000 MAD/m² for apartments, 15,000 to 40,000 MAD/m² for villas, and 7,000 to 18,000 MAD/m² for commercial properties. The most expensive neighborhoods are Hivernage, Guéliz, and Palmeraie, while Targa and Mhamid offer more affordable prices.
Average real estate prices in Marrakech
The average price in Marrakech is around 11,000 to 13,500 MAD/m² for apartments. Luxury villas often exceed 20,000 MAD/m², especially in tourist and high-end residential areas.
Real estate prices by popular neighborhoods
Hivernage
Hivernage is the most prestigious neighborhood, combining luxury residences, hotels, and strong rental demand.
| Property Type | Average Price (MAD/m²) |
|---|---|
| Apartment | 20,000 - 25,000 |
| Villa / Luxury Residence | 30,000 - 40,000 |
| Commercial Property | 15,000 - 18,000 |
Guéliz
Guéliz is the urban and commercial center, ideal for rental and business activities.
| Property Type | Average Price (MAD/m²) |
|---|---|
| Apartment | 14,000 - 18,000 |
| Villa / Urban Building | 22,000 - 28,000 |
| Commercial / Office | 12,000 - 16,000 |
Palmeraie
High-end residential area, highly sought by international investors.
| Property Type | Average Price (MAD/m²) |
|---|---|
| Apartment | 15,000 - 20,000 |
| Luxury Villa | 25,000 - 40,000 |
| Tourist Residence | 18,000 - 25,000 |
Targa
Quiet residential neighborhood, attractive for families and first-time buyers.
| Property Type | Average Price (MAD/m²) |
|---|---|
| Apartment | 10,000 - 12,500 |
| Villa | 17,000 - 22,000 |
| Commercial Property | 9,000 - 11,000 |
Mhamid
Affordable neighborhood for first-time buyers and investors on a budget.
| Property Type | Average Price (MAD/m²) |
|---|---|
| Apartment | 8,000 - 9,500 |
| House / Modest Villa | 14,000 - 17,000 |
| Commercial Property | 7,000 - 9,000 |
Real estate prices by property type
Apartment
Highly sought for primary residence and rental, with strong demand in Guéliz and Hivernage.
Villa
High-end segment, especially in Palmeraie and secured residences, popular with foreign investors.
Commercial / Tourist Property
Attractive investment opportunities in high-tourism areas.
Real estate investment in Marrakech: yield and potential
Investing in Marrakech offers attractive gross rental yields, particularly via short-term tourist rentals. Key neighborhoods: Guéliz, Hivernage, Palmeraie. Estimated yield: 5% to 9% depending on property type and location.
Estimated rental yield by neighborhood
| Neighborhood | Main Type | Gross Yield |
|---|---|---|
| Guéliz | Apartment | 6% - 8% |
| Hivernage | High-end Apartment | 5% - 7% |
| Palmeraie | Tourist Villa | 6% - 9% |
| Targa | Apartment / Villa | 5% - 6% |
Real estate price trends 2026-2028
Between 2026 and 2028, prices are expected to rise moderately (+3% to +6%), supported by tourism demand, foreign investment, and urban development projects.
Pros and cons of buying in Marrakech
Pros
- International tourist attractiveness
- Good short-term rental profitability
- Prices still competitive compared to Europe
Cons
- Tourist seasonality
- Property management can be complex
- High maintenance costs for villas
Fees and taxation
Additional costs represent 8% to 12% of the property price, including notary, registration taxes, and land registry fees. Agency fees may also apply.
Marrakech vs Casablanca: price comparison
| City | Apartment (MAD/m²) | Villa (MAD/m²) |
|---|---|---|
| Marrakech | 8,000 - 25,000 | 15,000 - 40,000 |
| Casablanca | 9,000 - 27,000 | 18,000 - 35,000 |
Which property type to buy according to your goal?
- Main residence: Guéliz, Targa
- Tourist rental: Hivernage, Palmeraie
- Long-term investment: Developing neighborhoods
- Limited budget: Mhamid, southern outskirts
FAQ - Marrakech Real Estate Prices
What is the average price of an apartment?
The average price of an apartment in Marrakech is between 11,000 and 13,500 MAD/m², potentially exceeding 20,000 MAD/m² in high-end neighborhoods like Hivernage and Palmeraie.
Which neighborhoods are the most expensive?
The most expensive areas are Hivernage, premium Guéliz, and Palmeraie, where prices can exceed 25,000 MAD/m² for luxury properties.
Which neighborhoods are more affordable?
Mhamid and parts of Targa offer more affordable prices, usually between 8,000 and 10,000 MAD/m², ideal for first-time buyers.
Can I get a mortgage to buy property in Marrakech?
Yes, Moroccan banks provide mortgages to residents and foreigners. Rates in 2026 generally range between 6% and 7.5%, with an initial down payment recommended at 20%–30% of the property price.
What is the minimum down payment for a property purchase?
The minimum down payment is usually 20–30% of the price for residential property. For high-end villas, it can reach 40% to facilitate mortgage approval.
What rental income can I expect from an apartment in Marrakech?
An apartment in Guéliz or Hivernage can generate a gross annual yield of 6–8%, especially via short-term tourist rentals.
Is short-term rental profitable in Marrakech?
Yes, Marrakech attracts tourists year-round. Short-term rental can offer higher returns than long-term rental but requires active management and higher maintenance costs.
Which neighborhoods are best for foreign investors?
Hivernage, Palmeraie, and Guéliz are the most popular with foreigners for quality of life, accessibility, and high rental potential.
Should I buy new or old property in Marrakech?
New properties offer guarantees and lower notary fees, while older ones may be cheaper but require renovation. The choice depends on budget and goals.
What are maintenance costs for a villa?
For a luxury villa, maintenance costs (garden, pool, security) typically range between 5,000 and 15,000 MAD/year depending on size and level.