Property Type: Non-renovated riad

In the early 2000s started a craze for non-renovated riads in the medina of Marrakesh. Following various TV shows such as Capital, the French realize that they can afford the traditional houses, the riad in the medina of Marrakesh for a small price. It’s their corner of paradise in a sunny town, 340 days a year! Change of scenery: the medina is as much a journey through space (less than 3 hours flight) that in time: the feeling of middle-ages life.

This trend (investing in a non renovated riad in Marrakech) concerns mainly French people (80%. For reasons including common language, French is spoken everywhere in Morocco, but also common history). But not only French. English, Spanish, Italian, Belgian, Swiss also come to acquire their riad and renovate it.

The price of non renovated riads increase 20% per year from 2003/2004. And prices rise until 2008, till the announcement of the Great Depression in the United States.

Until then, prices rise exponentially: one from a non-existent market before 2000. The prices are so ridiculous: you can afford a palace Ksar, master riad, charming house to renovate, for almost nothing. 50 000 euros is enough to afford a Palace “Arabian Nights” style. The renovation at that time, costs far more than the property itself!

From 2006/2007, the values change: investors, driven by the golden image of Marrakech and convinced that prices will continue to rise, buy riads to renovate for very high prices. The real estate market in Europe is at its highest. Optimism is a must! At that time, the riad can cost more than the renovation work. Work still yet consistent. Every little traditional house, in a any area of the medina, even very far from Jemaa el Fna Square, in very popular areas,  will cost at least 10,000 dhs / m2. And refurbishment costs as much! EUR 200 000 for a 100m2 house when 200,000 euros offered a real Palace in the early 2000s!

From 2009, prices start to fall.

In 2016, prices have again become reasonable. There are still non-renovated riads in the market. But this is no longer the heart of the market. The renovated riads sell better: complete deeds, renovated, cheaper … it is logical that they find buyers. The non renovated riad often not being assayed, with many heirs and heavy work, for a price that is not enough fell down compared to renovated riads.

Apartment + terrace for sale, center of the old medina, to renovate

Apartment + terrace for sale, center of the old medina, to renovate

3 1 60 m² 12 m² 45.000
Former riad of the 18th century becoming a ruin… rare large surface in center Medina

Former riad of the 18th century becoming a ruin… rare large surface in center Medina

195.000
RARE! Riad, Arab-Andalusian architecture, good original condition …

RARE! Riad, Arab-Andalusian architecture, good original condition …

5 1 255 m² 214 m² Sold
Rare in Mouassine. Riad 18th century, to be renovated

Rare in Mouassine. Riad 18th century, to be renovated

3 1 358 m² 350.000
Rare! Real Riad, period and style Bahia Palace

Rare! Real Riad, period and style Bahia Palace

4 4 210 m² 300 m² 315.000
Unique! location # 1 on shopping street of the Medina, complete deeds

Unique! location # 1 on shopping street of the Medina, complete deeds

385 m² Sold
Traditional riad, to be restored. Comes with title deeds

Traditional riad, to be restored. Comes with title deeds

267 m² 230.000
Magnificent typical riad. Very good condition. Complete title deeds.

Magnificent typical riad. Very good condition. Complete title deeds.

6 2 360 m² 300 m² Sold
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