Morocco’s Rental Market Shifts: Surge in Demand for Furnished Properties

Apartment rentals have seen a 2% increase compared to the previous quarter, with an annual price drop of -4% year-on-year, reports Aujourd’hui le Maroc, citing Mubawab. Regarding rented villas, a positive annual evolution of 3% was recorded, while the quarterly result fell by 9% compared to 6% in the second quarter of 2020.

"In the segment of apartments offered unfurnished for rent, the cheapest rents are found in the cities of Khouribga, Had Soualem and Chefchaouen," says the same source. On the other hand, the most expensive rents are found in Bouskoura, Rabat and Casablanca. As for the most affordable rental villas, they are located in Meknes, Al Hoceima and Taroudant.

The demand for furnished rentals is experiencing a surge. "Even though there was a slight 1% drop in the quarter, apartments are up 6% compared to the previous year. The price of furnished villas increased by 3% this quarter," the same site pointed out.

It should be noted that, in these times of confinement, Moroccans are opting more for properties with more specific amenities since the second quarter of the year. Thus, the choice is more in favor of small areas with significant interior comfort. The demand for apartments with a balcony or terrace and for villas with a pool increased in the third quarter, noted the same source.