This article about the best cities to invest in Morocco’s real estate sector is not intended to be an investor’s guide as, in fact, Chic Morocco is only a premium travel agency. However, understanding the situation in this economic area is always interesting for travelers like you who plan to visit the country and are curious about this and other aspects of daily life. Therefore, here we list those cities with the best prospects in this regard, which is partly related to the development of the tourism sector.
Casablanca, at the Top of the Ranking
Casablanca (and its immediate surroundings) is the city that appears at the top of the rankings for the most expensive cities in terms of price per square meter. If we take the specialized website Properstar as a reference, at the beginning of 2025 that price was 17,500 dirhams/m2, which at the exchange rate means slightly less than 1,700€/m2.
The most observant will notice two things. On one hand, that the most expensive city in Morocco is not its most touristic city, which indicates that the main driver of this sector is local investors: Casablanca is the largest city in Morocco and its major financial center, which causes not only a high price in the city but also in its surroundings, such as the districts of Maarif and Bouskoura, which rank third and fourth, respectively.
The other detail is that its price is significantly lower than that of comparable cities in other countries. Madrid capital, for example, reaches prices above 5,000€/m2, according to Idealista. And Paris exceeds 11,000€/m2, according to the newspaper Le Figaro, which shows the high values that large cities with international ambitions are reaching.
Marrakech, Leading in Tourism Investment
However, Morocco’s most visited city, Marrakech, ranks second in this ranking, with about 16,000 dh/m2 (about 1,550€/m2). And the fifth, sixth, and seventh places are cities where tourism also has a significant weight (Essaouira, Tangier, Agadir), with figures ranging from 13,000 to 15,000 dh/m2. And all indications are that, barring exceptional situations (such as the Covid slowdown or the 2023 earthquakes), these prices will tend to rise, as the tourism sector is growing strongly in these and other destinations in the country.
Advantages of the Real Estate Sector for Foreign Investors
According to experts, Morocco’s real estate sector offers various advantages for foreign investors. One of them is a relatively favorable tax system, which incentivizes property purchases, whether for renovation as tourist accommodations or for rental to the local population. In this regard, there has been a strong increase in availability on specialized portals such as AirBnB.
Another mentioned advantage is the variety of properties to acquire. In addition to the usual urban apartments and flats, typical of modern city neighborhoods, there are traditional riads, which are small historic buildings in the medinas, where setting up luxury accommodation is always a winning option. Moreover, in rural settings, there are many kasbahs (Berber fortresses) that can also be transformed into tourist accommodations. And in coastal areas, there are facilities for large investors to build resorts for sun and beach tourism.
In conclusion: Morocco’s real estate sector has changed a lot in recent decades and is a good reflection of the country’s evolution. And tourists benefit from this with higher quality accommodations, with premium standards in many cases, such as those we handle at Chic Morocco.
