How to buy a house in Morocco as a French resident: everything you need to know

Buying a home in Morocco remains an attractive option for many expats and investors, including those based in France. The Moroccan real estate market has evolved significantly in recent years. Prices have fluctuated, but real estate still offers interesting opportunities, especially in less urbanized areas outside the main cities.

Finding the right property may be straightforward, but financing the purchase and transferring funds from France requires careful planning. For a mortgage, applying through your French bank is often the simplest option because they know your credit history. For payments, however, international transfer fees can quickly add up if you don’t choose the right method.

To save on costs, platforms like Wise offer an alternative by using the mid-market exchange rate, often resulting in significant savings compared to traditional banks.

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Real estate prices in Morocco

Where to buy in Morocco?

With both coastline and mountains, Morocco offers plenty of opportunities. Key areas include:

• Urban centers: Casablanca, Rabat, Marrakech, Fez
• Coastal towns: Essaouira, Agadir, El Jadida, and the suburbs of Casablanca (Mohammédia, Azemmour) or Rabat (Sidi Bouknadel)
• Mountain regions: Beni Mellal, Ouarzazate

The type of property matters: for guesthouses or rentals, tourist cities such as Fez, Chefchaouen, Essaouira, or Ouarzazate are popular. For a pied-à-terre, Casablanca and Rabat are good options.

Buying an apartment in Morocco as a foreigner

The average apartment price is about €1,100 per m², though this varies by city and neighborhood. For example, a one-bedroom apartment in Casablanca’s prestigious Golden Triangle is around €175,000 due to high demand.

Buying land in Morocco

Land prices depend on location and project type (residential, commercial, etc.). On the El Jadida seafront, prices range from 4,000 to 8,000 MAD (€375–€750) per m², reflecting demand for residential and tourist projects.

Buying a house in Morocco

Prices depend on whether it’s a townhouse, riad, or villa, and location is key. Currently, large houses average 14,130 MAD (€1,280) per m²—well below the 2017 peak of €1,800 per m².

Financing your purchase in Morocco from France

Additional costs when buying property

In addition to the price, you’ll pay acquisition costs of about 7% (6% taxes, 1% notary¹):

• Registration fees: 4%
• Land registry fees: 1.5% + 100 MAD fixed + 100 MAD ownership certificate
• Application fees: 1,000–1,500 MAD (€100–150)
• Notary fees: 0.5–1.5% (minimum 4,000 MAD if the property costs less than 300,000 MAD)

These figures come from the National Land Conservation Agency.

Financing for French citizens

If you live in France and want to buy in Morocco, applying for a loan from your French bank may be easier than approaching a Moroccan bank. Your French bank has access to your credit history and may approve your request once you’ve signed a preliminary sales agreement. You’ll need to provide full documentation of your financial situation.

Sending euros to a dirham account

To complete the purchase, you’ll need to transfer money from France to a Moroccan dirham account. This is a non-SEPA transfer, which involves currency conversion.

Banks often add high costs: transfer fees, correspondent bank charges, and a marked-up exchange rate.

With Wise, you can transfer at the mid-market exchange rate with transparent fees, helping reduce costs significantly.

More information
on the Wise account

FAQ: Buying real estate in Morocco as a French resident

What are the administrative requirements?

For apartments in urban areas, procedures are straightforward. But buying land in rural zones can be more complex. Foreigners can’t acquire more than one hectare in agricultural zones. It’s often easier to buy in urbanized or declassified zones.

Some properties, especially in medinas, are not registered. In that case, you’ll need to go through a notary to register and obtain a land title.

Should you use a real estate agent?

Yes, working with a local real estate agent can help. Moroccan bureaucracy can be slow, and agents know how to navigate administrative requirements. They can also guide you toward secure investments and help avoid issues like buying “Melkia” properties.

What is Melkia property?

“Melkia” properties, common in old medinas like Fez and Marrakech, are based on customary law and often lack formal land registration. Boundaries and ownership can be unclear, which creates legal risks. To secure ownership, you need to register the property and obtain a land title through a notary.

What risks should you be aware of?

If you’re buying a new build, note that Morocco does not require the “Financial Completion Guarantee” that protects buyers in France. If the developer fails, you could lose your investment. Always check the developer’s reputation and consider guarantees.

Optimize your transfers with Wise

When sending funds from France to Morocco, banks can be expensive due to fees and exchange rate markups.

Wise offers a cost-effective alternative by using the mid-market exchange rate without hidden markups. The savings on international transfers can be significant, making it worth considering for property purchases abroad.

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Last verified on December 22, 2024.

This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.