Marrakech Luxury Homes Draw a New Generation of Wealthy Buyers
Moroccans living abroad, dual nationals and African buyers are gaining ground in Marrakech’s luxury property market, according to a real estate professional interviewed by Forbes Afrique. Some are looking for a holiday home that can also generate income.
In its survey published on October 1, Forbes Afrique reports the observations of Abdelhadi Laaouina, an expert at Morocco Sotheby’s International Realty. He says this shift has been underway for three years.
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The historically European clientele is expanding, particularly to include Moroccans living abroad and French-African or European-African dual nationals. Foreigners nevertheless remain the majority among buyers of high-end properties, he says.
A holiday home that also has to generate income
Profitability is playing a greater role in decisions. Some buyers calculate their returns before purchasing, intending to rent out their property when they are not using it.
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The property can thus serve as a place for family stays while also being an investment. However, the survey provides neither rental yields nor sales figures to measure this trend in Marrakech.
These expectations also influence the choice of location. Buyers who prioritize everyday use look in particular for proximity to schools, the city or golf courses.
Others are willing to move farther from Marrakech to find more peace and privacy at a more affordable price.
