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The evolution of luxury real estate in Marrakech
Historical background
Marrakech, nicknamed the “Pearl of the South”, has long been a popular destination for tourists and investors alike. The city combines a rich cultural heritage with a growing modernity, making it an ideal location for business.’luxury real estate. Over the years, Marrakech has seen an increase in interest in luxury properties, not least due to the influx of international visitors and the boom in tourism.
Market growth
Since the early 2000s, the luxury real estate market in Marrakech has grown exponentially. Property prices have risen, reflecting growing demand and interest in long-term investments. According to some studies, the luxury real estate market has seen prices rise by around 20 to 30 % in recent years, particularly in the most sought-after areas.
Impact of the pandemic
The COVID-19 pandemic also had an impact on the Marrakech real estate market. Although the market experienced a temporary dip, recovery has been swift, with increased demand for properties offering outdoor space and security features. Buyers are now looking for homes that can be used as retreats, which has led to renewed interest in villas and riads.
Current trends in the luxury real estate market
Buyers' preferences
Buyers of luxury real estate in Marrakech are looking for properties that combine modern comforts with traditional charm. Popular features include private swimming pools, lush gardens and panoramic views of the Atlas Mountains. In addition, buyers often favor locations close to amenities, upscale restaurants and tourist attractions.
Rental investment
Luxury real estate in Marrakech is also considered an attractive rental investment. Many owners choose to rent out their properties on platforms such as Airbnb, enabling them to generate substantial income. Occupancy rates in the city are high, particularly during the peak tourist season, making it a lucrative option for investors.
Sustainable development
Another emerging trend is the emphasis on sustainable development and ecology. More and more real estate projects incorporate sustainable practices, such as the use of eco-friendly materials and renewable energy systems. Buyers are increasingly aware of the environmental impact of their investments and are looking for properties that reflect these values.
Popular neighborhoods for buying luxury goods
La Palmeraie
Visit Palmeraie is one of Marrakech's most emblematic districts, known for its luxurious villas and resorts. The area offers a peaceful setting, with lush gardens and palm trees, yet is within easy reach of the city center. Properties here are often spacious and feature private pools, attracting buyers looking for tranquility and luxury.
Gueliz
Guéliz is ideally located, offering easy access to Marrakech's main attractions. The neighborhood is close to the historic medina, while also being well served by main roads, making it easy to get around. Residents can enjoy a variety of restaurants, boutiques, cafés and art galleries, making it a vibrant place to live.
Medina
Visit Medina, with its historic charm, also attracts luxury buyers. The restored riads offer an authentic experience of Moroccan life, while being modernized to meet contemporary needs. This neighborhood is ideal for those who want to live in the heart of bustling Marrakech, while enjoying the privacy of a traditional home.
Wintering
The Hivernage district is another booming area for luxury real estate. Known for its high-end hotels and fine restaurants, Hivernage attracts a wealthy clientele. Properties here are often modern and well-located, offering easy access to the city's attractions while guaranteeing a pleasant living environment.
Conclusion
Luxury real estate in Marrakech continues to evolve, attracting investors and buyers from all over the world. With trends such as the emphasis on sustainable development, the rise of short-term rentals and the growing demand for luxury properties, Marrakech is positioning itself as a dynamic and attractive real estate market. Popular neighborhoods such as La Palmeraie, Agdal, Medina and Hivernage offer a variety of options for those looking to invest in luxury real estate, making the city a prime choice for the purchase of high-end villas and apartments.
