Marrakech Real Estate Boom: Foreign Investors Drive Prices Up

Many international investors, foreign tourists - attracted by an authentic Moroccan lifestyle - and Moroccans living abroad are investing in real estate purchases in Marrakech. In a recent announcement published in the New York Times, Americans are encouraged to buy in Marrakech where prices are "unbeatable" compared to the American market. The red city has indeed recorded several requests for property purchases in recent months.

This enthusiasm is explained in particular by Morocco’s co-hosting of the World Cup alongside Spain and Portugal, Morocco’s growing visibility on the international stage - reinforced by the historic performance of the Atlas Lions at the 2022 World Cup in Qatar and the unique charm and quality of life in Marrakech. According to Zoubir Bouhout, an expert in the tourism sector, this is not a new enthusiasm. "Since the early 2000s, Marrakech has been attracting many foreigners. But today, Americans are showing increasing interest," he explained to Assahra.

Bouhout was keen to specify that some of them opt for a simple rental purchase, while others prefer to open guest houses or create sports and tourism projects, thus generating local jobs and sustained economic activity. However, this rush for real estate is causing property prices to soar, making them no longer affordable for everyone. Moreover, it raises new legal and economic issues. For Bouhout, it is necessary to put in place a clear regulatory framework to accompany these investments, ensure sustainable integration into the local fabric, and avoid the perverse effects of uncontrolled speculation.