In our previous article on the surge in tourism statistics in Morocco in 2025, we highlighted an exceptional dynamic driven by a record influx of visitors. This tourism boom now appears to be having direct repercussions on the real estate market, especially during this summer season marked by the massive arrival of tourists.
With 17.4 million visitors recorded in 2024 and ambitious projections of 26 million by 2030, the Kingdom strengthens its status as Africa’s leading tourist destination, which in turn supports a rapidly growing real estate demand.
For deeper insight: “Is Morocco Really Breaking Tourism Records in 2025?”
The Knock-on Effect of Tourism Records on Real Estate
Morocco’s exceptional tourism performance—with MAD 54 billion in travel revenue in the first half of 2025 (+9.6%)—has direct consequences on the national real estate market. This momentum is creating unprecedented appeal for foreign investors.
According to Bank Al-Maghrib, which lowered its key interest rate by 25 basis points in March 2025 (bringing it down to 2.25%), favorable monetary conditions are now perfectly aligned with tourism growth to stimulate real estate acquisitions.
Positive Impacts: Multiplying Investment Opportunities
Strong Foreign Demand
A favorable investment climate has led to 5% of tourists investing in the country’s economy and 1% settling permanently, according to the Ministry of Tourism. This reveals significant potential: out of 17.4 million annual visitors, nearly 870,000 become investors, and 174,000 choose to live in Morocco.
Accelerated Property Appreciation in Tourist Areas
Tourist zones are seeing significant price increases, particularly in imperial cities and coastal destinations. This appreciation benefits current property owners and offers substantial capital gains opportunities for savvy investors.
Attractive Rental Yields
Morocco’s 2025 property market presents a rare combination: foreigners can legally own property, benefit from favorable tax conditions, and earn strong rental yields in tourist areas. Yields are boosted by the 28.7 million overnight stays recorded in 2024, a 12% increase over 2023.
Negative Impacts: The Flip Side of the Tourism Boom
Property Inflation and Local Exclusion
The strong foreign demand driven by tourism is pushing up real estate prices, making property increasingly unaffordable for many Moroccans. In key tourist zones, prices have reached levels inaccessible to the average local buyer, creating market segmentation.
Speculation and Localized Bubbles
Anticipation around the 2030 FIFA World Cup is fueling speculative behavior. Some investors are purchasing properties solely for short-term appreciation, without regard for local market stability. This raises concerns about localized real estate bubbles.
Growing Sectoral Dependence
As the real estate market becomes more closely tied to tourism cycles, it develops structural dependency. Any tourism shock—be it health, geopolitical, or economic—can directly affect real estate prices, increasing the sector’s vulnerability.
Regional Analysis: Comparing Market Performance
- Marrakech-Safi: Strongest growth, fueled by its status as a top destination.
- Casablanca-Settat: More stable indirect growth, less affected by seasonal tourism trends.
- Agadir and Tangier: Capitalizing on diversified tourism flows, offering more affordable prices and significant growth potential.
2025–2030 Outlook: Toward a Maturing Market
The forecast of 26 million tourists by 2030 and MAD 120 billion in tourism revenue outlines a promising future for Morocco’s real estate sector. The expected 4.6% national economic growth in 2025 provides a favorable macroeconomic environment for long-term real estate investment.
Morocco’s tourism boom is undoubtedly a key driver of real estate growth, offering exceptional opportunities and attractive returns. However, this positive momentum comes with structural risks that must be carefully managed.
The sector’s future will hinge on its ability to balance international appeal with local affordability, and to strike the right equilibrium between economic development and heritage preservation.
Buying vs Renting in 2025: What’s the Best Move for Investors?
As the real estate sales market evolves, many investors are considering the rental option, especially given the surging tourist demand.
For deeper insight: “Is Morocco’s Tourism Boom Reshaping the Rental Market?” – Comparative returns, regulation updates, and optimal strategies based on your investment goals.
For further reading: “Is Morocco Really Breaking Tourism Records in 2025?” – A complete analysis that sheds light on today’s key real estate issues.