|Last Updated: Sept. 12, 2011|
|MARRAKECH - Apartments||COST ($)||YIELD (p.a.)||PRICE/SQ.M. ($)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|50 sq. m.||97,850||654||8.02%||1,957||13.08|
|85 sq. m.||156,400||870||6.68%||1,840||10.24|
|120 sq. m.||252,120||1,280||6.09%||2,101||10.67|
|200 sq. m.||466,200||2,302||5.93%||2,331||11.51|
|MARRAKECH - Riads|
|120 sq. m.||276,360||n.a||n.a||2,303||n.a|
|180 sq. m.||426,060||n.a||n.a||2,367||n.a|
|250 sq. m.||530,500||n.a.||n.a.||2,122||n.a.|
|500 sq. m.||948,500||n.a||n.a||1,897||n.a|
|CASABLANCA - Apartments|
|75 sq. m.||125,700||904||8.63%||1,676||12.05|
|120 sq. m.||219,960||1,247||6.80%||1,833||10.39|
|200 sq. m.||394,000||2,586||7.88%||1,970||12.93|
|CASABLANCA - Houses|
|300 sq. m.||633,000||2,859||5.42%||2,110||9.53|
|600 sq. m.||1,938,400||n.a.||n.a.||2,423||n.a.|
| Districts researched
Marrakech: Gueliz, Palmeraie, Hivernage, Medina, Semlalia
Casablanca: Hopitaux, Gauthier, Ain Diab, Anfa, Californie, Belvedere, Bourgogne, Oasis
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule
Prices of Riads in Marrakesh have fallen significantly over the past year, and a price of US$2,000 per square metres (sq. m.) is now typical (in mid 2009 astronomical prices equivalent to US$3,000 were being asked, sometimes up to US$4,000). A 500 sq m. riad which might then have sold for the equivalent of US$1.5 million would now fetch US$1 million.
The riad market was foreign-oriented. It over-reached itself and suffered an overblown speculative frenzy. Then the crisis hit and the ‘rich money’ left town. In contrast, prices of apartments in Marrakesh have stayed virtually unchanged, at around US$2,000 per sq. m. The same is true in Casablanca.
Gross rental yields in both Marrakesh and Casablanca are moderately attractive at between 5.5% to 7.3%, with an outlier in Casablanca ,where small apartments (70 sq. m.) can give gross rental yields of 9%.
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