Morocco property prices 2026: are prices rising, and is now a good time to buy?

Morocco property prices are broadly flat. The official index from Bank Al-Maghrib and the land registry (ANCFCC) rose 0.7% in the year to the second quarter of 2026, after 0.6% in 2025, and villa prices slipped 0.3% year on year. With inflation near zero, that is stable in real terms. Asking prices on portals run higher and move differently, which is why headlines often disagree.

Updated 5 October 2026

Key facts

The official property price index rose 0.7% year on year in Q2 2026: apartments +1.1%, houses -0.7%, villas -0.3% (Bank Al-Maghrib/ANCFCC).
In 2025, prices rose 0.6% and transactions 3.1% (Bank Al-Maghrib/ANCFCC).
Prices fell 2.4% (first estimate, since revised) and transactions 40.2% in Q1 2026 compared with Q4 2025; in Q2, prices rose 0.7% and transactions 11.0% on the quarter (Bank Al-Maghrib/ANCFCC).
Rabat led the four largest markets in 2025 with prices up 3.5%, ahead of Marrakech (+1.0%), Casablanca (+0.9%) and Tangier (+0.6%) (Bank Al-Maghrib/ANCFCC).
Average asking prices on Mubawab in 2025 were MAD 14,042 per m² for apartments and MAD 14,602 for villas, roughly EUR 1,300-1,350 (Mubawab).
The policy rate has been 2.25% since March 2025, held for a sixth straight meeting on 22 September 2026; home loans to households averaged 4.53% in Q2 2026 (Bank Al-Maghrib).
We found no reputable source quantifying a World Cup effect on Moroccan property prices as of October 2026 (Villas of Morocco research).

Are house prices rising in Morocco?

Only just. On the official index, prices rose 0.6% in 2025 and 0.7% in the year to Q2 2026. Inflation averaged 0.8% in 2025 and was -0.3% in August 2026 (HCP), so in real terms prices have barely moved since the start of 2025. Year-on-year change by type in Q2 2026 (Bank Al-Maghrib/ANCFCC):

Apartments: +1.1%
Houses without a garden: -0.7%
Villas (houses with a garden): -0.3%
Urban land: +0.3%

Villas are the most volatile series because few sell twice in any quarter: +2.4% year on year in Q4 2025, -6.4% on the quarter in Q1 2026, then +3.3% in Q2. Judge villas over a year, not a quarter.

What happened to property prices in early 2026?

The market stalled in the first quarter, then partly recovered. In Q1 2026 the index fell 2.4% on the previous quarter and transactions dropped 40.2%. The first quarter is usually quieter than the fourth, but sales were also 9.3% lower than in Q1 2025, so the dip was more than seasonal.

The large cities fell together: Rabat -4.7% (transactions -55.4%), Tangier -3.9%, Casablanca -2.7% and Marrakech -1.5% (transactions -51.5%). Cement sales fell 10.9% in the same quarter (DEPF). We found no official explanation.

In Q2 2026, transactions rose 11.0% on the quarter and 6.3% on the year, and prices rose 0.7%. ReaConsult, a Casablanca valuer, calculates from revised data that the Q1 fall was 1.95%, the worst first quarter since 2008, and that Q2 recovered only about a third of it. Bank Al-Maghrib revises past quarters in every release, hence the gap with the first-published -2.4%.

Property price trends by city

Rabat was the strongest large market in 2025, though it also fell furthest in Q1 2026. Changes in 2025 (Bank Al-Maghrib/ANCFCC):

Rabat: prices +3.5%, transactions +15.0%
Marrakech: prices +1.0%, transactions +24.1%
Casablanca: prices +0.9%, transactions +7.8%
Tangier: prices +0.6%, transactions +3.3%

In Q2 2026, quarterly changes ranged from +2.3% in Tangier (driven by urban land, +7.3%) and +1.9% in Rabat to +0.5% in Casablanca and Marrakech, -0.1% in Agadir and -0.9% in Meknès and Oujda. Villa prices rose 3.3% in Casablanca that quarter but fell 1.3% in Marrakech and 4.4% in Agadir.

The release breaks results down for ten cities only. There is no official series for Essaouira or the Mediterranean coast from Tetouan to Saidia.

What is the price per m² in Morocco by city?

There is no official price per m². The figures below are asking prices or crowd-sourced estimates for apartments unless stated, and they disagree, so treat them as ranges.

National: MAD 14,042 (apartments) and 14,602 (villas), average asking prices in 2025 (Mubawab)
Casablanca: MAD 21,704 centre, 12,327 outside (Numbeo, October 2026); Anfa Supérieur and Aïn Diab 22,000-28,000, CFC 19,000-26,000, Hay Hassani and Oulfa 8,500-11,500 (ReaConsult, 2025-2026)
Rabat: MAD 19,544 centre, 11,399 outside (Numbeo); Souissi 16,000-21,000, Hay Riad 14,000-18,000 (ReaConsult)
Marrakech: MAD 18,472 centre, 8,905 outside (Numbeo); Hivernage 16,000-24,000, Guéliz 13,000-20,000 (ReaConsult)
Tangier: MAD 16,995 centre, 11,610 outside (Numbeo)
Agadir: MAD 15,038 centre, 9,767 outside (Numbeo)

Numbeo's city figures rest on 8-19 contributors each; ReaConsult's barometer aggregates listings from Yakeey, Agenz and Mubawab. At about 10.8 dirhams to the euro (September 2026), MAD 10,000 per m² is roughly EUR 925.

Why do official prices and asking prices differ?

Because they measure different things. The Bank Al-Maghrib/ANCFCC index tracks completed sales recorded at the land registry, the same registry where we check every listing's Titre Foncier before publication. Portals track what sellers ask.

Repeat sales: only properties sold at least twice enter the index, so it compares like with like, and first sales of new-builds are missed until resale.
Change, not level: the index is set at 100 in 2006 and gives no price per m².
Revisions: data is frozen 35 days after each quarter, and past quarters are revised.
Gaps: cities or types with too few sales are left out, such as Tangier villas in Q2 2026.

Asking prices include a negotiation margin and shift with the mix of listings, so a portal headline and the official index can both be right about different things. One diaspora-focused website projects Tangier prices rising about 8.5% a year; we found no reputable source for such figures, and the official Tangier index rose 0.6% in 2025.

Mortgage rates, inflation and the dirham in 2026

Financing conditions are stable. Bank Al-Maghrib cut its policy rate to 2.25% in March 2025 and held it for a sixth consecutive meeting on 22 September 2026. The average rate on home loans to households eased to 4.53% in Q2 2026, from 4.66% in Q1.

Consumer prices fell 0.3% year on year in August 2026 (HCP). Bank Al-Maghrib projects inflation of 0.7% in 2026 and 1.5% in 2027, and GDP growth of 4.4% in 2026, after 4.9% in 2025 (HCP).

The dirham is pegged to a basket of 60% euro and 40% dollar within a ±5% band, so swings against the euro are limited but real: one euro bought 10.73-10.91 dirhams between mid-August and early September 2026. Terms for non-resident borrowers can differ; see our mortgage guide.

Is now a good time to buy property in Morocco?

There is no single answer, and this is not investment advice. The data describes a flat, functioning market, not a runaway one, and that cuts both ways.

What supports prices

Demand: a record 19.8 million visitors in 2025 (see tourism statistics) and diaspora remittances above MAD 122 billion that year.
Connectivity: a record 36.3 million airport passengers in 2025, and the Kenitra-Marrakech high-speed line due in September 2029, according to ONCF.
Portal activity: on Mubawab, purchase demand rose 5.45% in 2025 while listings fell 3.12%.

What argues for caution

No price tailwind: after purchase taxes and fees (see buying costs), a short hold in a flat market is unlikely to break even.
Soft villas: prices -0.3% and sales -7.1% year on year in Q2 2026, while villa listings on Mubawab rose 2.35% in 2025.
Weaker short-let income: AirROI shows revenue per listing down about 22% in Tangier and Casablanca in the year to July 2026.
New supply: 60,000 hotel beds planned by 2030 will compete with holiday lets. In Qatar, rents in some districts fell 18-23% in a single quarter of 2023, after the 2022 tournament (Knight Frank).
No measured World Cup premium: none has been quantified for Morocco, and studies of past events find small, local effects (see the World Cup and prices).

Our reading: apartment prices in the main cities are stable, and the villa market gives room to negotiate. Buying for use, or to hold for many years, fits the data better than buying for a 2030 resale.

Sources

Frequently asked questions

What is the average price per m² for property in Morocco?

About MAD 14,000 per m² on asking prices. Mubawab's 2025 national averages were MAD 14,042 for apartments and MAD 14,602 for villas, roughly EUR 1,300-1,350. Prime districts cost far more, such as MAD 22,000-28,000 in Casablanca's Anfa Supérieur and Aïn Diab, according to ReaConsult. There is no official price per m², and asking prices are a starting point for negotiation.

Are property prices falling in Morocco?

Not overall. The official index was up 0.7% year on year in Q2 2026, after a first-published 2.4% quarterly fall in Q1 2026 (revised to about 1.95%, per ReaConsult) that was only partly reversed. Some segments are slightly down: villas -0.3% and houses without a garden -0.7% year on year.

What are mortgage interest rates in Morocco in 2026?

About 4.5% on average for households. Bank Al-Maghrib puts the average rate on home loans to individuals at 4.53% in Q2 2026, down from 4.66% in Q1. Rates for non-residents, foreign buyers and long fixed terms vary by bank, so compare offers rather than relying on the average.

Which Moroccan city has the fastest-rising property prices?

Rabat, on official data for 2025. Prices there rose 3.5%, against 1.0% in Marrakech, 0.9% in Casablanca and 0.6% in Tangier, according to Bank Al-Maghrib and ANCFCC. In Q2 2026, Tangier led with a 2.3% quarterly rise, driven by urban land (+7.3%).

Will Moroccan property prices rise before the 2030 World Cup?

No one can say with confidence. We found no reputable source that has quantified a World Cup effect on Moroccan prices. Studies of past events find small, local gains: the 2005 announcement of the London Olympics raised prices in host boroughs by 2.1-3.3% (Kavetsos, 2012). New transport links, such as the high-speed line to Marrakech due in 2029, are more likely to matter than the stadiums.

How often is Morocco's official property price index published?

Quarterly. Bank Al-Maghrib and the land registry agency ANCFCC publish the real-estate asset price index (IPAI) every quarter; the Q2 2026 edition, release number 67, came out in August 2026, about two months after the quarter ended. Past quarters are revised in each release, so always quote the latest edition.

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