One of the most popular towns in Morocco is Marrakech, known for its lively souks, colourful streets, and old buildings. Many people want to own property here, and riads are one of the most popular options.
A traditional Moroccan house called a riad has a garden, an open courtyard, and beautiful tile work. Some people buy riads for their own personal use, while others turn them into guesthouses or Airbnb rentals.
If you want to buy a riad in Marrakech, this guide will help you. We’ll talk about what a riad is, why getting one is a good investment, the best places to look, the legal steps, the costs, and more.
Just what is a Riad?
A riad is a traditional Moroccan home that is built around a garden in the middle. The layout keeps the house cool in the summer and makes it a private, quiet place. Riads often have:- Tilework and wood carvings that are very detailed
- An area with a pond or a small garden
- Rooftop decks with views of the city
- Thick walls to keep heat in and keep people out
A Riad in Marrakech: Why Buy One?
1. The chance of making money
Every year, millions of people come to Marrakech. Many tourists would rather stay in a riad than a hotel, which makes these homes a great investment. A riad can be used as a hostel or as an Airbnb rental.2. A one-of-a-kind way to live
If you own a riad, you can get close to Moroccan society. These homes are unique because of how they look, how they feel, and their past.3. Cheap Compared to Other Markets
It costs less to buy a home in Marrakech than in many other European towns. There are riads of all different prices, from cheap ones that need work to expensive ones.4. Chances to fix things up
Because some riads need work, you can buy them for less money and raise their value by making the changes.Types of Riads in Marrakech That You Can Buy
1. Riads from the past
It looks like these are older houses with original features. They might need work, but they have a lot of charm.2. Renovated high-end riads
The bedrooms, kitchens, and other features in these riads are new and modern. People who want comfort will love these homes because they are ready to move into.3. Guesthouses and riads
These riads were built to be used as guesthouses. They have many rooms and are great for short-term renters.4. Home fixer-uppers
These are the cheapest choices, but they need to be fixed up. They’re a great chance for people who want to make their home unique.The best places in Marrakech to buy a Riad
1. The Old City of Medina
The Medina is the old part of Marrakech. It has markets, narrow streets, and houses that are hundreds of years old. This is the best place to live if you want a real Moroccan home. But because of strict building rules, it might be harder to fix up homes here.2. The Kasbah Area
There are both old and new riads in this area, which is close to the Royal Palace. It’s not as busy as the Medina, but it’s still close to all the important sights.3. Hivernage and Gueliz
There are shopping malls, coffee shops, and wide streets in these more modern places. They’re good for people who want to live in a way that is both Moroccan and European.4. Palmeraie and further
The riads in this area are bigger and have grounds and pools. It is perfect for people who want a more luxurious and roomy home.Things to Think About Legally When Buying a Riad
Can people from outside of Morocco buy property?
People from other countries can buy riads in Morocco. There are no limits on who can own land, but there are legal steps that need to be taken.Important Paperwork
- Deed of title (also called “melkia” or “titre foncier”)
- Sale agreement notarised
- Documents for tax registration
Agents and lawyers who sell homes
You should work with both a real estate agent and a lawyer to make sure everything is done right. Some sellers don’t have clear papers showing who owns the item, which can lead to legal problems down the road.Permits for Renovations
If you buy a riad that needs work, the local government may require you to get a permit. Before you buy, it’s best to check.How to Buy Something: A Step-by-Step Guide
Step 1: Do some research and make a budget.
Set a budget and learn about the different parts of Marrakech.Step Two: Get in touch with a lawyer.
There are people in the area who can help you find a riad that meets your needs.Step 3: Go to Properties
Go to more than one riad to find the best one for you. Check to see how the building and the area around it are doing.Step 4: Talk about the price.
Many times, prices can be negotiated. Make an offer and talk to the seller about the terms.5. Do your research and fill out the legal paperwork.
Talk to a lawyer about the papers to make sure there are no legal problems.Step 6: Complete the purchase and sign up.
After making sure of everything, sign the purchase agreement and put your name on the property.Broken Down Costs: How Much Does a Marrakech Riad Cost?
Choices for budget
- Fixer-uppers for $80,000 to $150,000
- Range of riads: $150,000 to $400,000
- Rich rides cost $400,000 to $1,000,000 or more.
Costs added on
- Legal fees: 2% to 5% of the price of the house
- Taxes on registration: 4–6%
- Costs of renovations depend on how much work needs to be done.
How to Become a First-Time Buyer
- Hire a real estate agent in your area who knows the market well.
- To make sure the property is legal, look at the title record.
- Check out the property at various times of the day to discover how busy or quiet it is.
- Find out how much it will cost to fix up a house before you buy it.
Using a Riad as a Business
Some people who buy riads turn them into guesthouses. This could be successful, but it takes work.Things to think about:
- Getting locals to do the cleaning and repairs.
- Setting up your riad as a business.
- Marketing through sites like Booking.com and Airbnb.
