Bosworth Property Marrakech is a fully authorised property consultant in Marrakech. We can advise you on your project, big or small, in this fascinating and vibrant city.
Personally, I’ve been thrilled to visit hundreds of riads and other houses in the old town – there is such variety and scope. There really is something for everyone – from the family holiday home to the institutional investor.
When you’re looking to buy property in Marrakech there are many things to consider – the quality of the building is paramount, yet so is the location. In fact, most surveyors, and there are not many here, will use a simple “in the know” valuation technique based on venal land values in a particular quarter of the Medina. To my knowledge, the information in this post is not freely available anywhere else on the internet.
We take your property valuation a good step forward and include such variables as recent sales for comparable properties in the location; renovation cost to resale value estimates; other property developments ongoing in the quarter; growth potential, tourist driven demand etc … In fact, we believe our methodology is the most sound available today in this exciting market.
It’s definitely the time to buy … prices are generally low due to international circumstances. The property market in Marrakech is currently fluid, although mid-range riads are finding buyers hard to come by. Luxury riads in Marrakech as well as property to renovate are selling well, even if the market has some way to go before it sees the highs it experienced in the mid 2000’s before the European banking debacle. Basically, good property in Marrakech is much sought after and the future looks bright for those who get their foot in the door now.
Using the “in the know” simple methodology, you should look to buy land at similar prices to the following, according to quarter – these prices are for bare land. Remember that a property to renovate could cost you more despite clearance costs etc. Good quality built property in a good location, even in a less well-known quarter, could cost significantly more. We strive to offer properties direct from local families meaning that we are hyper competitive on the following prices:
(Property valuation Marrakech – prices per square metre of clear building land in this non-exhaustive view, expressed in Moroccan dirhams, as of March 31st 2016 – you can use xe.com for a decent mid-market rate conversion into your currency …)
Jemaa El Fna 11,000
L’Ksour 10,000
Kennaria 9,000
Dar El Bacha 9’000
Riad Zitoune L’Jdid 8,000
Riad Zitoune L’Khedim 7,500
Derb Dabachi area 6,500
Ben Salah 5,000
Rahba Khedima (Immediate Spice market area) 7,500
Mellah (Jewish quarter) 4,000
Kasbah 8,000
Bab Taghzout/Sidi Ben Slimane 4,000
Bab Aylen/Bab Dbagh/Bab L’Kmiss/L’Mokkef 3,500
Ben Youssef 7,000
Bab Doukkala 6,500
This is just a rough guide and that’s why we offer a detailed surveyancy service to our clients – the price of land can change significantly from one street to another, even within a given quarter.
Another element to consider in the valuation of any given property, regardless of it’s location, is the overall size … particularly for a titled riad. Big properties command a premium price as land is limited in this historic old-town. The Medina is circled with ancient walls and it’s not going to get any bigger.
Whatever your requirements just get in touch and we’ll advise you.
