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Buying Off-Plan Property (VEFA) in Morocco

Buying off-plan property in Morocco, also known as VEFA (Sale in a Future State of Completion), is a very common option, especially for buyers looking for a new, modern, and customizable property. This complete guide explains all the steps, advantages, risks, costs, and precautions you need to take to secure your investment.

What is VEFA (Sale in a Future State of Completion)?

VEFA means that you purchase a property before it is built or fully completed. Payments are made progressively according to the construction progress, and ownership is transferred gradually as the property is completed. This model is widely used for new real estate developments in Morocco.

What are the advantages of buying off-plan?

Buying off-plan allows you to acquire a brand-new property built to modern standards, benefit from legal construction guarantees, and often enjoy better energy efficiency. Buyers may also be able to customize certain finishes depending on the project stage.

  • Prices often lower than completed properties
  • Legal construction guarantees included
  • Compliance with modern building regulations
  • Possibility to customize finishes

How does buying off-plan (VEFA) work in Morocco?

1. Choose the project and verify the developer

Identify new real estate projects through agencies, platforms such as Masaken, or directly from real estate developers. Make sure the developer has solid references, a good track record, and a clear legal file.

2. Sign the reservation agreement

The reservation agreement is the first written commitment between the buyer and the developer. It specifies:

  • The estimated purchase price
  • The property description
  • The expected delivery timeline
A security deposit is usually required (often around 5% of the purchase price).

3. Sign the VEFA deed before a notary

Signing the VEFA deed before a notary officially validates the sale. The deed clearly outlines:

  • Architectural plans and surface areas
  • Payment schedule
  • Mandatory legal guarantees
The notary also verifies the legal status of the project.

4. Progressive payments based on construction progress

Payments are made gradually according to contractually defined milestones:

  • Reservation deposit
  • Completion of foundations
  • Structural construction
  • Finishing works and key handover
Each payment request must correspond to an actual completed stage.

5. Property handover and defect reporting

Once construction is completed, the property is handed over with or without reservations. Any visible defects must be reported promptly so they can be corrected under the applicable guarantees.

What are the costs of buying off-plan in Morocco?

Off-plan purchase costs include notary fees, registration taxes, administrative charges, and sometimes agency fees. Overall, these costs usually represent between 6% and 10% of the total purchase price.

  • Notary fees and deed drafting
  • Registration and land registry taxes
  • Administrative fees
  • Agency commission (if applicable)

What legal guarantees protect VEFA buyers?

VEFA buyers benefit from mandatory legal guarantees, including:

  • Completion guarantee: ensures the project will be completed
  • Perfect completion guarantee: requires the developer to fix any non-compliance
These guarantees are designed to protect buyers against construction defects and unfinished projects.

Risks and precautions to take

Like any off-plan purchase, VEFA involves certain risks. It is essential to verify the developer's financial stability, the project permits, contractual deadlines, and the existence of bank guarantees.

  • Delivery delays
  • Changes to original plans
  • Hidden construction defects
  • Fluctuating mortgage conditions

Always request administrative compliance certificates and bank guarantees to secure your real estate investment in Morocco.

Financing an off-plan property purchase

An off-plan purchase can be financed with cash or through a mortgage granted by a Moroccan bank. Some banks offer VEFA-specific loans with progressive disbursements aligned with construction progress.

  • Personal contribution usually required
  • Interest rates and terms vary by bank
  • Pre-approval is recommended before reservation

FAQ – Buying Off-Plan Property (VEFA)

What does VEFA mean in Morocco?

VEFA stands for Sale in a Future State of Completion, meaning you buy a property before it is built or fully finished.

Can an off-plan property be resold before delivery?

Yes, in some cases it is possible to resell an off-plan property before delivery, depending on the contract terms and the developer's approval. This is known as a VEFA assignment.

What is the average delivery time for VEFA projects?

Delivery timelines vary by project but generally range from 12 to 36 months after signing the VEFA deed.

Are there guarantees against delivery delays?

Delivery delays should be addressed in the VEFA contract, often with penalty clauses. Always ensure these provisions are clearly included before signing.

Conclusion

Buying off-plan property (VEFA) in Morocco is an attractive option, especially for buyers seeking a new home that meets modern standards. By carefully verifying the developer, legal guarantees, and contractual terms, you can secure your project and benefit from a modern and high-quality real estate investment.