Morocco’s Seasonal Rental Market Surges Despite Pandemic, Locals Favor Private Stays
Seasonal rentals are holding up despite the health crisis related to the coronavirus and the absence of Moroccans residing abroad (MREs) in the real estate market. The summer holidays will bring in big money for owners.
"Prices of secondary properties are soaring in coastal cities and remain stable in inland cities," confides to La Vie éco a market operator. The Moroccan National Tourist Office (ONMT) will make the same observation after conducting a survey.
The respondents express their disinterest in tourist accommodation establishments. 81.2% of them want to spend the summer season with family, 41.5% with friends, 32.8% in rental houses or apartments.
"Over the past 5 years, rents have increased by nearly 20% in certain destinations, especially in the North," says a real estate agent. With tourism being exclusively focused on nationals and some MREs, homeowners are taking advantage of this to raise the stakes.
In El Jadida and Oualidia, the average prices have increased and range between 900 DH/night for apartments located in a residence with a swimming pool and 1,800 DH/night for villas. In Casablanca and its suburbs, Sidi Rahal, Tamaris, Dar Bouazza, rents are around 1,700 DH on average compared to 1,200 DH in Mohammédia, Mansouria, Témara, Harhoura...
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