Marrakech-An-Enticing-Prospect-for-Investment

Marrakech An Enticing Prospect for Investment

21.11.18

Marrakech is showing itself to be an appealing destination for property investors seeking remunerative investment opportunities. The city’s growing year-round tourism flow and low cost of living in comparison to main European countries alongside, lower property taxes and high public spending on infrastructures, is proving a potent combination for overseas buyers.

The real estate market has bottomed out and is only recently at the beginning of a recovery phase with visible growth. The price per square foot has suffered a relevant correction since the all-time highs of 2017 and, differently from European counterparties, property prices in the Red City have really only begun to see an increase since 2016. The average price per square foot in central areas has decreased from $168 in 2007 to $102 in 2017 and from $125 to $73 in the first suburbs.

The luxury market is concentrated in three neighbourhoods. Most appealing in terms of investment is the neighbourhood of Guéliz (with an average price per square foot of $207 for recent properties), which has seen a huge growth in demand over the last two years, followed by the more classic districts of Hivernage ($362 per square foot), and Palm Grove ($312 per square foot), which are located in discrete and elegant areas with easy accessibility to the main services of the city.

Cushman & Wakefield rank Morocco as the eighth lowest-risk country among emerging markets. The destination boasts other benefits too for buyers looking for a second home, including its weather — in Marrakesh, the temperature at midday drops to about 20C in winter — and a long season of 10 months. The appetite for property within the medina itself never really goes away. A unique location - there’s nothing else like it in the world. For those who buy wise - rental returns of 10% are achievable .

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