Marrakech Defies National Trend: Luxury Real Estate and Land Sales Soar Amid Market Slowdown

Overall, real estate asset prices in Marrakech recorded a modest increase of 0.2% compared to the previous quarter. This apparent stability, however, hides contrasting developments. The main driver of this increase is land, whose prices have risen by 0.9%. The luxury residential sector has also contributed, with an increase of 0.5% for villas. These performances have made it possible to offset the sharp decline in traditional houses (-2.0%) and the slight drop in commercial properties (-0.4%).

The vitality of the Marrakech market is even more visible in the volume of sales, which increased by 2.7%. This growth is almost entirely driven by the dynamism of the high-end real estate and land sectors. Sales of villas and land have indeed jumped spectacularly, with increases of 13.5% and 13.4% respectively.

Conversely, the standard residential market is stagnating. Apartment sales, which constitute the core of the market in volume, have declined by 1.1%. This dichotomy reveals a two-speed market, where luxury and land investment are vastly outperforming the traditional residential segment.

This unique performance confirms Marrakech’s special status. Supported by strong tourist appeal and sustained interest in rental investment, the city continues to attract capital. The growing demand for villas and urban land is acting as a powerful engine, allowing the local market to navigate against the downward trend observed in the rest of the country.