Marrakech draws the strongest foreign demand in Morocco: French, Belgian, Swiss and Gulf buyers looking for apartments, villas or riads. In August 2026 the market has stabilized after a slow start to the year, and Marrakech-Menara airport — 5.64 million passengers in the first half, up 10.4% from 2025 — keeps setting the pace of a city that doesn't stop.
This guide uses m² prices verified in August 2026 and the official Bank Al-Maghrib and ANCFCC index (IPAI, second quarter 2026).
Prices by neighborhood (MAD/m², August 2026)
| Neighborhood | Apartment (MAD/m²) | Profile |
|---|---|---|
| Hivernage | 25,000 – 50,000 | Luxury, 5-star hotels |
| Jardins Majorelle | 25,000 – 45,000 | Exclusive residential |
| Guéliz (new build) | 25,000 – 30,000 | Modern center |
| Guéliz (older) | 15,000 – 20,000 | Modern center |
| Palmeraie | 20,000 – 45,000 | Villas with land |
| Golf (Amelkis, Al Maaden, Royal Palm) | 18,000 – 30,000 | Golf communities |
| Agdal / Route de l'Ourika / Route de Fès | 15,000 – 28,000 | Mid-range |
| Camp El Ghoul | 13,000 – 25,000 | Best value for money |
| Medina riad (renovated) | 15,000 – 40,000 | Heritage, patio house |
| Medina riad (to renovate) | 10,000 – 25,000 | Needs renovation |
To put it in perspective: an 80 m² apartment in Guéliz costs between 1.6 and 2.4 million MAD; a villa in Palmeraie usually tops 10 million; golf villas range from 8 to 33 million.
The premium neighborhoods
Hivernage is the most expensive district in the city. Luxury hotels, embassies and secured residences with pools and spas. Apartments go for 25,000 – 50,000 MAD/m². It is the favorite of Gulf buyers looking for discretion and services at the doorstep.
Jardins Majorelle sits at the same level: gated communities around Morocco's most famous garden, at 25,000 – 45,000 MAD/m². What you buy here is quality of life: quiet, greenery and closeness to the center.
Guéliz is the modern center par excellence: shops, restaurants, galleries and the train station. It has the highest seasonal rental turnover in the city.
Palmeraie is a different world: villas on plots of 1,000 m² or more, at 20,000 – 45,000 MAD/m². Some palaces exceed 10 million MAD, and landmark properties trade above 80 million. What you buy here is space, privacy and the palm landscape.
Mid-range and entry level
Camp El Ghoul, to the north, offers the best balance of price and proximity: 13,000 – 25,000 MAD/m², full amenities and quick access to Guéliz and the Casablanca road.
Agdal and the routes — Route de l'Ourika and Route de Fès — offer 15,000 – 28,000 MAD/m² in apartment and small-villa developments, with the advantage of sitting on the city's main exit roads.
The golf communities (Amelkis, Al Maaden, Royal Palm) cost 18,000 – 30,000 MAD/m² for apartments and villas. They are the most requested by European buyers: courses by well-known architects, clubs and 24/7 security.
The Medina and riads
The Medina is Marrakech's most singular product. A tastefully renovated riad costs 15,000 – 40,000 MAD/m²; one that needs work, 10,000 – 25,000. Price depends on three things: location inside the Medina (near Jemaa el-Fna square commands a premium), the state of the roof, and whether it has a terrace or building rights.
Buying a riad is buying a project: rehabilitating a proper patio house usually costs 3,000 – 6,000 MAD/m² depending on the condition of the woodwork, plaster and plumbing. Buyers who do it right plan for 12 to 24 months of work.
The market in August 2026
The Bank Al-Maghrib and ANCFCC IPAI (Q2 2026) confirms the turnaround: national prices up 0.7% year on year and transactions up 6.3%. Apartments rose 1.1%; villas and houses are still correcting (-0.3% and -0.7%).
In Marrakech, the first quarter closed with prices 1.5% below a year earlier. In practice: buyers find room to negotiate, especially on villas, older houses and riads in need of renovation, while new builds remain solid.
Buying from abroad
You don't need residency or a visa to buy property in Morocco. The basic process:
- •Offer and negotiation: the listed price is not the final price. On renovations and villas, negotiating is standard practice.
- •Deposit contract (promise of sale): signed before a notary with a 5–10% down payment.
- •Registry check: the notary verifies the title at the land registry.
- •Deed signing and payment of the balance, usually by bank check or transfer.
- •Registration in your name at the land registry: that title is your guarantee.
Documents in Arabic or French can be translated by a sworn translator. Many buyers complete the whole process in 2–4 weeks, with two trips: one to sign the deposit, one for the deed.
How much buying costs
On top of the price declared in the deed, add:
| Item | Cost |
|---|---|
| Registration fees | 4% |
| Land registry (conservation foncière) | 1.5% |
| Notary (fees + VAT) | 0.5 – 1% |
| Sworn translation and paperwork | 1,000 – 3,000 MAD |
| Approximate total | 6 – 7% of the price |
For a 2,000,000 MAD apartment, that means about 130,000 MAD extra in taxes, notary and formalities. The agency fee (2.5 – 3%) is paid by the seller by custom.
What nobody tells you
- •Portal prices are asking prices: in Hivernage, Guéliz and Palmeraie you can negotiate 5–10% with solid arguments (condition, parking, views).
- •Riad renovation always costs more than budgeted: get two quotes from different craftsmen before buying one to renovate.
- •In the Medina, facades are untouchable without heritage authorization: it is a protected district.
- •The high sales season runs from October to May: summer is the dead season, and the best time to negotiate.
FAQ
How much is an 80 m² apartment in Guéliz?
Between 1.6 and 2.4 million MAD depending on the exact area and condition: 25,000 – 30,000 MAD/m² for new builds, 15,000 – 20,000 for renovated older buildings.
Riad or apartment?
If you want a patio house with heritage charm, a riad; if you want simple management and free time, an apartment in Guéliz or Camp El Ghoul. A riad demands renovation, patience and an expert eye.
How is the Marrakech market doing in 2026?
Stable, with signs of improvement: national IPAI up 0.7% year on year, transactions +6.3%. Tourist demand is breaking records. Marrakech prices corrected 1.5% in the first quarter: there is room to negotiate.
Sources
- •Bank Al-Maghrib and ANCFCC — Real Estate Price Index (IPAI), Q2 2026 (August 2026)
- •Médias24 — IPAI Q2 2026 coverage (August 28, 2026)
- •ONDA — Marrakech-Menara airport passenger traffic, H1 2026, via Hespress (July 2026)
- •Marrakech neighborhood real estate price reference (2025–2026)
- •DGI MRE 2025 tax guide — purchase and registration fees