The rising prices of Moroccan real estate

REPORT: In three years, prices in the Moroccan real estate market have increased up to 150%, while locals have trouble paying rent. (Report: J.-M. Lemaire, N. Guillou)

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News & Politics

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• France
• 24
• report
• morocco
• real
• estate
• market
• price
• rising
• rent
• moroccan
• locals
• tourism
• strangers
• buy
• speculation

[GothN00b]

morocco is not poor idiot,marrakech is also not modern,its actually very old,and has got many poor people living in,but c'mon,tangiers is all modern,and isnt even as big as amsterdam,(its more modern than amsterdam,but amsterdam is just a bit cleaner)

[leo2kid]

No, what part of the word "average" don't you understand? Average means you take all figures and divide by how many numbers you have. It is not 450$ to 600$. they re millions of Moroccans making 250 Dhs a weeks. Also they re millions of others making (SMIG) or minimum wage which hovers around 1500Dhs a month. So where did you get 600$ from? Nominal GDP per Capita is at 2827$, we rank with poorest countries in the world.

[GothN00b]

leo2kid is right since,if u lived sumwhere else other than marrakech(cuz marrakech is a very touristic city and is pretty exp to live in),u'll find that its pretty normal,if u want a villa in the most luxurious place in Tetouan( a very beautifll northern moroccan city,that has enterred the international contest of the best photos of the most beautifull cities in the world)its bout 800$ a M2,also the verage moroccan salary is not 250$ its somewhere near 450$-600$.

[feelings11]

An apartment in Kenitra costs more than a villa in some area in California, This is a proven fact. It's because Morocco has a better social safety network than the US. Free health care, free education, excellent employment opportunities, superb life style attractions with parks and recreation through out Morocco and last but not least safety and security of both lives and property. That totally explains why Morocco would cost more to live in. I wish I could afford it.

[leo2kid]

Well, it's already upon us. I knew it was coming. Forclosure rates are steadily in the increasing patern. It will take a few months for the dust to settle as more Europeans and immigrants run out of unemployment benefits. The huge Fadesa Saidia project has just bitten the dust and more is coming. By summer 2010, you are garranteed a 30-50% savings. The only people that are somwhat safe r the ones that didn't approach this rising market to cash in on it, but to acctually find a home to live in.

[brahim119]

Unfortunately this situation is awfully hurting the local people, and the fragile economy. Allah ghalb.

[brahim119]

I agree with you 100%, it's just another bubble that sooner or later will burst.

[idriss109]

Well people are buying houses in Morocco bcz they found what they wanted at least they got a better weather there than here in North America or Europe and I'm a Moroccan as well

[leo2kid]

This market in Morocco is based 110% on speculaion. There is no actual worth in this trust me I am Moroccan. you should learn from the the U.S housing collapes and save your hard earned money. The average Moroccan salary is 250$ a month and these "so called" real estate investments are just a Marketing scam aimed at foreigners. It is kinda of funny when i look at the prices they want for some real estate it just makes me laugh cause you really have to be stupid to waste your money like this..

[boots920]

All fiat money system end in disaster...makes sense

1 million of 0 worth, is always 0.