Marrakech Real Estate Prices Surge Amid Tourism Boom and Rising Costs

Record rise in real estate prices in Morocco, especially in the metropolises. The city of Marrakech, as a leading tourist destination in the kingdom, is not immune to this trend. The situation is worrying real estate developers who fear a saturation of the market.

"Since 2024, land prices in Marrakech have practically doubled. Before, we were at around 500 DH per square meter. Today, it is common to see it reach 1,000 DH, or even more. This is an expected development given the influx of tourists and the boom in economic activities in the city," explains the director of a real estate development company to Médias24. Is the market saturated? To this question, the professional answers: "To say that there are no more available lands in the heart of Marrakech is not accurate. There are, but the prices have become prohibitive, which hinders the access of developers, especially those with limited capital".

The soaring real estate prices in Marrakech are due to the strong demand caused by the construction sites related to the 2025 CAN and the 2030 World Cup, estimates a real estate agency director. "These events have boosted the demand for materials and labor, leading to a dizzying rise in construction costs. Cement, bricks, wood and iron have seen their prices skyrocket. This cost inflation, combined with the revaluation of real estate prices, has created a real inflation of rates," she explains, specifying that today, "it is practically impossible to acquire a villa for less than 8.5 MDH. In the space of four to five years, we have observed an increase of 4 MDH, which is completely unprecedented".

Despite this inflationary trend, demand remains on a clear upward trajectory. "Sales operations continue on an upward trajectory, without any signs of a slowdown in the market. Despite the surge in prices, the interest of buyers remains intact and acquisitions continue at a sustained pace. For now, demand remains robust, and nothing suggests a recession," supports the manager.