Price per m² in Marrakech by district: what the official Q2 2026 data says versus agency ranges

Searching “Marrakech price per m²” returns spectacular ranges, from 6,000 to 28,000 dirhams depending on the site. The catch: no official statistic publishes a price per m² by district. The index of Bank Al-Maghrib and the land registry (ANCFCC) measures changes by city and by property type. Here is how to read both sources side by side without mixing them up.

What the official index says for the second quarter of 2026

According to Hespress, which relays the note from Bank Al-Maghrib and the ANCFCC published on 28 August 2026, the national property asset price index rose 0.7% over the quarter and over one year. Residential prices are up 1% year on year, driven by apartments (+1.1%), while houses (-0.7%) and villas (-0.3%) fell.

In Marrakech, prices gained 0.5% over the quarter. That is modest: similar to Casablanca (+0.5%) and below Tangier (+2.3%), Rabat (+1.9%) or Fez (+1.7%).

An asking price is not a sale price: the official index is based on registered transactions, not on sellers’ requests.

Volumes rebound, prices do not surge

Bladi.net, drawing on the same source, reports that sales in Marrakech had fallen 51.5% in the first quarter of 2026 before rebounding 18.3% in the second, against +11% nationally. According to the article, volume remains around 43% below its end-2025 level.

• Apartments: transactions +13.1%, prices +0.7%.
• Villas: transactions +13.6%, prices -1.3%.
• Houses: transactions +36.5%, prices +2.2%.
• Urban land: transactions +37.8%, prices -0.1%.

The cautious reading: activity is returning, but villa sellers are not getting increases. Bladi’s and Hespress’s figures use different comparison bases (previous quarter or previous year) and cannot simply be added together.

District ranges: handle with care

Two agency websites publish district grids. Neither is an official statistic, and they do not agree. L’Agence Immobilière (Morgan & James, June 2026) gives, for new and older apartments:

• Hivernage: 16,000 to 28,000 MAD/m².
• Gueliz: 14,000 to 22,000 MAD/m².
• Victor Hugo / Annakhil: 13,000 to 20,000 MAD/m².
• Agdal: 10,000 to 15,000 MAD/m².
• Targa: 9,000 to 14,000 MAD/m².
• Massira / M’hamid: 6,000 to 9,000 MAD/m².
• Sidi Youssef Ben Ali: 5,500 to 8,500 MAD/m².

Masaken.ma, which cites neither source nor date, gives for example 20,000 to 25,000 MAD/m² in Hivernage, 14,000 to 18,000 in Gueliz and 10,000 to 12,500 in Targa. The gap on Targa (9,000-14,000 versus 10,000-12,500) shows the problem: these are orders of magnitude, not enforceable references. Morgan & James itself says the values should be “validated against the agency’s internal records”.

How to use these figures without overpaying

Ranges help place a property, not value it. Between the bottom and top of a range the gap can exceed 50%: floor, condition, new or old, proximity to a main road and land title all matter. The gross yields quoted by agencies (4 to 6% long-term and 6 to 10% short-term at Morgan & James) are commercial estimates: check our calculation of the net yield after tax in Marrakech before relying on them.

In a market where villas are slipping slightly and volumes remain below end-2025, the balance of power is more even than it looks: a well-argued negotiation is possible.

Checklist before making an offer

• Collect at least five comparable properties sold or listed on the same street or in the same complex.
• Ask the agency whether the displayed price is an asking price or a completed sale.
• Compare ranges from two different sources, never just one.
• Check the land title and ownership certificate before any negotiation.
• For a villa, factor in the official trend (-1.3% in Q2 according to Bladi) in your offer.
• Watch for the next Bank Al-Maghrib index release before committing.

This article is informational and is not investment advice. No price per m² by district could be verified against an official source.