French Lead Foreign Real Estate Investment in Marrakech, Morocco

The French rank first among property buyers due to Morocco’s proximity to Europe and the strong commercial relations between the French and Moroccans, reports The Arab Weekly. British, Italian and Spanish buyers will follow directly.

Nationals of the Gulf Arab countries are also on this list. They buy properties in the high-end market. "Gulf Arabs have generally bought properties priced between $1.1 million and $5.6 million. These are used as vacation homes rather than permanent residences," said Nik Kapur, an agent at M2 Morocco, a real estate agency based in London and Marrakech.

According to him, the luxury market in Marrakech, which is concentrated in three neighborhoods, sets average prices three times higher than the general market. "The most attractive in terms of investment is the Gueliz neighborhood, with an average price per square meter set at $2,070 for recent properties, which has seen a strong increase in demand over the past two years, followed by the more traditional neighborhoods of Hivernage ($36,200 per square meter) and Palm Grove ($312 per square meter), which are in discreet and elegant areas with easy access to the city’s main services," Kapur explained.