Thousands of French nationals, particularly dual citizens, are flocking to Morocco each year to purchase property, according to French real estate expert Michel Lechenault in a report, published by “Particulier à Particulier,” a website specializing in international real estate opportunities for French investors.
The primary reasons cited for this trend include attractive property prices, geographic proximity, and Morocco’s western culture.
In a detailed report on the subject, Lechenault said that retirees, professionals, young people, and businesspeople are among the French demographics particularly drawn to Moroccan real estate investments.
Cities like Marrakech, Rabat, and Casablanca consistently rank as the most popular destinations for property purchases in the kingdom.
Marrakech, for instance, offers a diverse range of properties, from modern apartments to traditional riads, catering to both local and international buyers.
Casablanca, as Morocco’s economic capital, presents dynamic investment opportunities, while Rabat, the administrative capital, attracts investors with its high quality of life and modern infrastructure.
Agadir, a popular tourist destination, also draws real estate enthusiasts. Tangier benefits from its proximity to Europe and strong demand for property. Meanwhile, Fez and Meknes appeal to those seeking traditional properties.
Property prices in Morocco’s most sought-after cities vary depending on the location. In Rabat, prices range between €900 and €1620 per square meter, while in Casablanca, they fluctuate between €1080 and €1800 per square meter.
Tangier’s average prices fall between €900 and €1400 per square meter, with Marrakech offering a slightly lower range of €900 to €1350 per square meter. Agadir’s prices are more affordable, ranging from €720 to €1260 per square meter.
The report provides numerous examples of properties attracting multiple buyers. For instance, a 124-square-meter house in Fez, priced at around €100,000, has garnered interest from 12 potential investors.
Similarly, a 226-square-meter villa near Casablanca, estimated to sell for €191,000, has attracted nine buyers.
Beyond houses, traditional Moroccan homes known as “riads” are also in high demand among investors. The report also highlights the growing interest in purchasing land in Morocco.
The report concludes that purchasing property in Morocco can be an excellent investment opportunity, whether for primary or secondary residence or for rental income.
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