Ren rent for empty and furnished flats climbed by 3% during the first quarter of 2023 compared to the same time in 2022 and by 7% over the course of a year.
This is what the Mubawab group’s most recent Rental Tensiometer revealed. The average rent for a furnished apartment is 8.800 MAD per month, compared to 7.700 MAD for an empty unit.
“Guéliz (Marrakech), Mâarif (Casablanca), Oulfa (Casablanca), Agdal (Rabat), Ryad (Rabat), Anfa Bourgogne Ouest (Casablanca), Sidi Maârouf ( Casablanca), Bouskoura, Casablanca Finance City (CFC – Casablanca) and Tanger Center are the long-term rental neighborhoods with the highest rental costs on the national scale, according to the report.”
The report notes that demand for Moroccan rental properties increased by 1% in the first quarter of 2023, compared to the fourth quarter of 2022.
Renter Reda Malouh drew attention to the significant disparity in rent costs between Morocco’s major cities and urban centers and the country’s decentralized areas. “I’m currently paying 2500 MAD a month to rent a 150m2 apartment in Beni Mellal.”
The Mubawab renting Tensiometer tracks the national trends of the long-term renting industry.
The value of empty villa rentals climbed by 5% from the first quarter of 2022, reaching 23.800 MAD.
Additionally, a furnished villa typically costs 24,500 MAD per month to rent. Tensiometer readings show an increase of 2% in quarterly variation and 4% in annual variation.
The costs that the tensiometer disclosed shocked Ayoub, a resident of Rabat. “That indicates that only people of high social standing can rent. The typical Moroccan salary ranges from 4,000 to 8,000 MAD.”
Rent costs in central areas in Morocco promote house sharing. Eventually, people regularly relocate because sharing a flat is unsuccessful most of the time, according to Ayoub Ben Abdellah.
Rabat continues to have the highest rents for both empty and furnished flats, with average monthly costs of 9,800 dirhams and 11,000 dirhams, respectively.
Agadir experienced the largest quarterly decline in prices for empty and furnished apartments, while Marrakech topped the list of highest increases in apartment rental costs.
The average surface area of unfurnished flats is 90 m2, whereas that of furnished ones is 106 m2. Furnished flats witnessed a 2% fall in demand, empty ones saw a 3% increase.
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