Soaring Real Estate Prices in Tangier Push Housing Out of Reach for Middle Class

Real estate prices in Tangier are "very high" compared to other cities in the north of the kingdom. They are approaching those practiced in metropolises like Rabat, Marrakech or Casablanca, to the point of becoming an inaccessible luxury for low-income households. "The high cost is indeed real, and prices have increased by about 30% per square meter, both for land and apartments," confirmed the president of the Association of Real Estate Developers in Tangier.

In a statement to Hespress, the professional explained that this upward trend in real estate prices in Tangier is due to the city’s tourist attractiveness, the preferred destination of many Moroccans who dream of settling there or acquiring apartments for their vacations. This price increase is also linked to the restricted development plan and the lack of areas open for construction in Tangier.

The official asks local authorities to accelerate the development of a "large area of the Beni Makada district, representing about 400 hectares, which should strengthen and increase the supply," emphasizing that the development of this area will contribute to readjusting real estate prices in Tangier.

With a salary of about 6,000 dirhams, the employee of a company in the strait city cannot afford decent housing. "I rent a small apartment for 2,000 dirhams, and the rest of the salary barely covers food and clothing expenses due to the significant cost that empties pockets," complains the thirty-something who "no longer thinks about acquiring housing, especially with the great expense that the market is experiencing."

The latter points the finger at real estate developers who "don’t care about anyone. Their only concern is profit, without taking into account the conditions of society or its declining purchasing power." According to some sources, the prices of certain real estate properties, particularly apartments, reach "surrealistic" levels in the city center, sometimes approaching two million dirhams.