The city of Casablanca is undergoing a major metamorphosis, with the aim of becoming a world-class metropolis. Historic events are on the horizon: in addition to hosting the African Cup of Nations (CAN) in 2025, the city has been shortlisted to host the 2030 World Cup final, alongside Barcelona and Madrid. These events put the city in the global spotlight, and every detail counts. Beyond the sporting spin-offs, it is the image of an entire country that is at stake, a Morocco determined to assert its place among the world’s leading tourist and economic destinations.
To meet these challenges, the Local Council has drawn up the Local Action Plan (Plan d’action communal, PAC) 2023-2028. The ambition shared by local decision-makers is clear: « To make Casablanca an intelligent and sustainable city, offering a pleasant living environment and quality services to its citizens« , announced Nabila Rmili, President of the city’s Communal Council, at the presentation of the program.
The program is structured around several priorities: the development of efficient public transport networks, the rehabilitation of public spaces and the modernization of road infrastructures. While these initiatives are aimed above all at improving the living environment for residents, they also raise a crucial question: will they help boost Casablanca’s land and property market?
Boosting mobility to boost real estate
« In preparing the PAC, we took up the challenge of upgrading all of Casablanca’s neighbourhoods through structural projects, including the rehabilitation of road infrastructures, the reinforcement of the public transport network, the embellishment of major thoroughfares and the creation of numerous green spaces throughout the districts, » explains Moulay Ahmed Afilal, Vice-Chairman of the Local Council. He adds: « These projects have contributed to a significant increase in property and land values in all Casablanca neighbourhoods , particularly those related to mobility.«
« The tramway has played a key role in increasing land and property values »
With the construction of four tramway lines and two High-level service bus lines (Bus à haut niveau de service, BHNS), Casablanca now has 100 kilometers of exclusive right-of-way public transport. This vast network has had a direct impact on the real estate market, driving up land and property prices, particularly in neighborhoods served by the tramway. « We’ve observed an interesting real estate dynamic along the routes served by the tramway« , says real estate expert and consultant Amine Mernissi.
As soon as the routes of the various lines were announced, real estate investors were quick to target the areas near the stations. This interest was not confined to the city center, but also extended to the outskirts of Casablanca. « The tramway has played a key role in boosting the value of land and property in neighborhoods that were previously marginal in terms of infrastructure« , explains Mernissi.
However, not all efforts to improve mobility systematically generate immediate results in terms of real estate attractiveness. As part of the PAC, the local council has decided to ban heavy goods vehicles from urban areas, notably Derb Omar, in order to relieve traffic congestion and improve quality of life. On the face of it, this measure would appear to be conducive to real estate development.
However, Amine Mernissi qualifies this impact: « This decision may have positive effects, but not in the short term. » Even in shopping areas such as Derb Omar, the main beneficiaries of this ban, the determining factors in value appreciation remain linked to economic activity.« These neighborhoods are more influenced by the commercial dynamic, which makes commercial investment more attractive than residential investment, » he explains.
50 shades of price
According to statistics published in 2016 by the Directorate General of Taxes (Direction générale des impôts, DGI) in its repository of real estate transaction prices for the various districts and provinces of the city of Casablanca, the average selling price per square meter stood at 10,566 dirhams. This figure rose to 11,661 dirhams in 2024, according to data published on the Yakeey real estate website. This trend reflects a marked disparity between districts, with price rises particularly marked in downtown areas.
In the Anfa district, for example, the price per square meter for a new apartment rose from 19,000 dirhams in 2016 to over 24,000 dirhams in 2024. In Sidi Belyout, prices have also risen, from 16,000 dirhams to over 18,300 dirhams over the same period.
In other neighborhoods, although the general trend remains upward, price trends are relatively moderate. In Al Fida, the price per square meter rose from 9,000 dirhams to 9,456 dirhams, while in Aïn Sebaâ it rose from 9,000 dirhams to 10,266 dirhams, and from 9,100 dirhams to 9,579 dirhams in Aïn Chock.
However, some districts recorded slight decreases. In Hay Mohammadi, for example, prices fell from 9,000 dirhams to 8,661 dirhams, while in Sidi Othman, they fell from 8,000 dirhams to 7,390 dirhams.
According to Asmae Abdelaoui, a real estate agent in Casablanca, « new property prices always soar along the tramway route, particularly in the months following the announcement of the construction project« . These prices tend to stabilize a few months later. She also points out that new-build property prices are closely linked to « the abundance of supply » and that, in working-class neighborhoods, « declared prices do not always reflect the reality of the market« .
Villas: very expensive isolation
While the development of means of mobility, such as the tramway, has had a positive impact on property prices in urban and suburban areas, the situation is different in residential areas made up of villas. According to Amine Mernissi, the arrival of the tramway in these areas often has a « negative » effect on property values.
« A villa valued at 15 million dirhams, benefiting from an unobstructed view, may see its value drop considerably due to the installation of the tramway, which is perceived as a nuisance, both in terms of noise and visual impact, but also in terms of parking, » he explains.
In neighborhoods dominated by apartment buildings and multi-family housing, the tramway is a real asset, improving residents’ mobility. « For these households, the tramway represents a definite advantage, facilitating their mobility« , adds Mernissi. On the other hand, in residential areas with villas, motorized homeowners don’t feel the same need for this mode of transport. « They’re looking above all for peace and quiet and quality of life, without the nuisance associated with nearby public transport, » he adds.
Faced with this dynamic, villa buyers are increasingly turning to residential areas on the outskirts of Casablanca, notably in Dar Bouazza and Bouskoura: quieter environments, far from tramway routes, and corresponding to their expectations in terms of living environment.
Is the time to invest now?
In the current context of accelerated development in the city of Casablanca, marked by numerous construction sites and the announcement of two major world sporting events, real estate investment presents a strategic opportunity.
« We still have five years ahead of us before the World Cup in 2030, which offers a period of prosperity and development for real estate« , says real estate expert Amine Mernissi. In his opinion, this is the ideal time to invest in real estate, as « the various development projects across the city will gradually enhance the value of the surrounding areas« .
Investors with a substantial budget will turn to high-end properties.« People with substantial capital can opt for apartments or houses in established neighborhoods« , explains Mernissi. Such investments offer near-absolute security, as « the real estate value of these properties, at current market prices, cannot fall for the next five years« , he adds.
« Studios and apartments for rent in Casablanca are particularly sought-after, not least because of the boom in tourism »
For more modest budgets, rental property in developing neighborhoods represents an excellent opportunity.« Studios and apartments for rent are particularly sought-after, not least because of the boom in tourism« , he points out. The rental market is currently booming, underpinned by increased demand for short- and medium-term rental properties, facilitated by online platforms.
The choice of location also depends on the investor’s strategy and financial resources. Areas under development, such as Casa Finance City, « still offer attractive prices and a high potential for value enhancement« , says Mernissi.
Another option is to invest in older properties in need of renovation. « Old houses are available at attractive prices in historic districts such as Habous. With some renovation work, these properties can be upgraded and become excellent investments, whether for rental or resale« , he explains.
With the extension of the tramway, the modernization of infrastructure and preparations for the hosting of the 2025 African Cup of Nations and the 2030 World Cup, the Casablanca real estate market is in full swing. This transformation opens up interesting prospects for… pic.twitter.com/sT5v94j6vD
– TelQuel (@TelQuelOfficiel) December 17, 2024
Written by Younes Saoury. Edited in English by S.E.
