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Morocco Beckons: French Buyers Drawn to Affordable Properties and Cultural Richness in 2024
In 2024, French buyers have discovered a treasure trove of affordable real estate opportunities in Morocco, with apartment prices starting as low as €42,000 and properties outside major cities averaging €600 per square meter.
Morocco has emerged as a favored destination for French property buyers, particularly those with dual citizenship, who are seeking international real estate investments. According to a report published on July 28, thousands of French citizens are annually turning to Morocco for property purchases, driven by a combination of attractive prices, geographical proximity, and the allure of Moroccan culture.
Retirees, young professionals, and entrepreneurs alike are finding compelling reasons to invest in Moroccan real estate. The report highlights Marrakech, Casablanca, and Rabat as the most sought-after cities for property acquisitions. These urban centers offer a diverse array of properties, from contemporary apartments to traditional riads, catering to a wide range of preferences and budgets.
Marrakech, with its vibrant atmosphere, attracts both local and international buyers. Casablanca, the economic hub, offers dynamic investment opportunities in a bustling city. Rabat, the administrative capital, appeals to buyers with its high quality of life and modern infrastructure. Other cities such as Agadir, Tangier, Fez, and Meknes also present attractive opportunities, each with its unique charm and advantages. The report provides a detailed table of average prices per square meter across different regions, ranging from €630 to €1,800.
"Affordable properties can be found for around €600 per square meter when moving slightly away from these cities," the report notes. It also delves into the types of properties available in Morocco.
Houses and villas in scenic areas are in high demand. For instance, a 124 m² house in Fez is offered at €100,000, while a 226 m² villa near Casablanca is priced at €191,000. Apartments in major cities like Rabat and Agadir are also popular, with prices starting from €42,000 for a 74 m² apartment. Traditional Moroccan houses, known as riads, are highly sought after for their authentic charm and architecture. The report mentions a 423 m² riad in Chouiter, with views of the Atlas Mountains, offered at €120,000. For investors, interesting land opportunities include a 3,000 m² plot near Marrakech priced at €45,000.
The report emphasizes that purchasing real estate in Morocco can be an excellent investment opportunity or a chance to live in an exceptional setting. "Whether for a primary residence, secondary home, or a rental investment, the Moroccan market offers a diversity of choices to meet all expectations," the report concludes.
This trend underscores Morocco's growing appeal as a destination that combines affordability with cultural richness, making it an attractive option for French buyers in 2024.