Morocco combines a growing economy, a tourism-led second-home market and some of the most accessible foreign-ownership rules in North Africa. The Morocco real estate market 2026 is a two-speed story: stable urban apartments in Casablanca and Rabat, and lifestyle property around Marrakech and the coast. We read our indicators below; current stock is on the Morocco property page.
Price levels and direction
Survey data for 2023 gave about $1,560 per m² in city centres and about $858 per m² outside, both slightly lower than 2022 (about $1,633 and $949). That fits with high interest rates and a cooling in dollar terms rather than a collapse. Prices in prime Marrakech riads, Tangier seafront and Casablanca's best districts sit well above these averages.
Affordability is stretched: the price-to-income ratio was 15.9 in 2024, up from 14.2, and the price-to-rent ratio was 21.0 (21.7 the year before). We do not rely on the salary series for 2024 because it looks inconsistent with 2023, so use the ratios instead. For asking prices at the lower end, look at cheap property in Morocco and under $100k.
Rents and yield
Gross rental yield in the city centre was 4.8% in 2024 (4.6% in 2023). A one-bedroom in the centre rented for about $413 a month in 2024 (up from $329), versus about $187 outside the centre in 2023. Three-bedrooms rented for about $622 (centre) and $329 (outside) in 2023.
Long-term residential returns are moderate. Short-term tourist lets can do better in Marrakech, Essaouira and Agadir, but regulations on holiday rentals have tightened and licences and classification matter. Do not rely on peak-season occupancy.
| Indicator | Value | Year |
|---|---|---|
| Gross rental yield, city centre | 4.8% | 2024 |
| Price-to-rent ratio, city centre | 21.0 | 2024 |
| Price-to-income ratio | 15.9 | 2024 |
| Price per m², city centre | $1,560 | 2023 |
| 20-year mortgage rate | 5.25% | 2023 |
Read more (3 more sections)Show less
Macro picture
GDP grew 4.6% in 2025 (3.8% in 2024) to about $182 billion, with GDP per capita near $4,672. Inflation was low at 0.7%, government debt about 68% of GDP, and the policy rate 2.75% in 2024. Unemployment remains high at about 9.0%, and population is about 38.4 million, growing 0.9% a year.
The 20-year mortgage rate was 5.25% in 2023 (4.9% in 2022). Preparations for major sporting events and public infrastructure spending, including rail and ports, support construction and some regional prices. Income tax tops out at 37% and VAT is 20% in our data. For non-resident lending, see financing in Morocco.
Foreign buyers: rules and risks
Foreigners can buy freehold property in Morocco in most urban areas. Agricultural land is generally restricted to Moroccan nationals, and some state-owned or collectively held land cannot be sold. Transactions go through a notary, and proper title checks (titre foncier) are essential.
- Currency controls. The dirham is not freely convertible; document how money enters the country so that sale proceeds can be repatriated.
- Declared prices. Under-declaring prices to reduce fees is illegal and can harm your resale position.
- Off-plan risk. Use escrow or staged payments backed by bank guarantees.
- Over-supply. Some tourist developments have stalled.
Our Morocco consultation guide walks through notary, tax and registration steps.
In Morocco, a clean titre foncier is worth more than a sea view.
Outlook
Steady growth, low inflation and public investment point to gradual price gains in major cities, with tourism-driven areas dependent on arrivals and air connections. Buyers should treat Morocco as a lifestyle-plus-income purchase, not a rapid-appreciation trade. Compare with other markets in the analysis hub.
Last updated 8 October 2026