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Casablanca — Marrakech’s prime residential property market is attracting a broader range of international buyers, with younger families, professionals, and members of the Moroccan diaspora increasingly driving demand in a sector once dominated by retirees, according to Knight Frank’s latest market report.
The report describes Marrakech as one of North Africa’s most dynamic residential markets, fueled by strong international interest following the pandemic and changing buyer preferences. European purchasers, particularly from France, Belgium, and the United Kingdom, remain a major source of activity.
At the same time, demand is expanding to include Moroccan expatriates, especially US-based professionals, as well as buyers from the Middle East looking for an alternative to more established lifestyle destinations.
Prime residential properties in Marrakech are typically priced between €5,500 and €7,000 per square meter, while top-tier villas can command higher prices. Knight Frank says prime assets in areas such as Royal Palm, Amelkis, Palmeraie, and selected Medina properties have continued to experience upward price pressure despite wider market stabilization since 2023.
In some cases, prices have risen by an estimated 10% to 15% over the last two years due to limited supply and sustained demand for high-quality homes. Transactions across all market segments increased by 12% in 2024, according to official data cited in the report.
Despite recent gains, Marrakech remains considerably cheaper than many established European luxury property markets. Knight Frank estimates prime residential prices in the city at around €6,000 per square meter, compared with €10,200 in Marbella, €10,730 in Lisbon, €22,100 in Milan, €23,000 in Paris, €26,000 in London, and €28,550 in Geneva. The firm says this pricing gap continues to attract international buyers seeking second homes and lifestyle investments.
Rental market becoming a key step before purchase
One of the strongest trends identified in the report is the emergence of a “rental-first” approach among high-net-worth buyers. Many prospective purchasers now spend between six and twelve months renting before committing to a property purchase.
According to Knight Frank, buyers increasingly use this period to evaluate neighborhoods, schools, and daily living conditions. The process often follows a sequence of hotel stay, rental accommodation, and eventual purchase. The report describes this pattern as a defining feature of the city’s prime market and an important source of future sales.
Buyer demographics have also shifted. While retirees remain active, they no longer dominate the market. More buyers in their 40s and 50s are purchasing homes either for family relocation or as a second residence. Younger buyers tend to be more willing to renovate properties, while retirees and families generally prefer turnkey homes ready for immediate occupation.
Infrastructure and tourism supporting market growth
The report links part of the market’s momentum to major infrastructure projects linked to Morocco’s co-hosting of the 2030 FIFA World Cup. These include the planned extension of the high-speed rail line between Casablanca and Marrakech, expected to reduce travel times to around 90 minutes.
The expansion of Marrakech Menara Airport is set to double its capacity to 16 million passengers. The airport currently serves 111 destinations, including direct routes to New York and Riyadh.
Tourism growth is also supporting demand. Foreign arrivals increased from 12.9 million in 2019 to 19.8 million in 2025, according to figures from Morocco’s Ministry of Tourism cited in the report.
Knight Frank notes that short-term rental yields of 7% to 10% are now achievable, particularly for buyers seeking winter-sun destinations. Looking ahead, the firm forecasts that prime residential values in Marrakech will rise by around 6% during 2026.
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