Published on and written by Cyril Jarnias
Buying an apartment in Morocco is attracting more and more French people, whether to prepare for a retirement in the sun, have a pied-à-terre just a few hours’ flight from Paris, or position themselves in a real estate market that is significantly cheaper than mainland France. In 2026, the legal framework is stable, prices remain very competitive, and Moroccan banks have organized themselves to finance foreign buyers. But the process remains very specific: currency exchange rules, the role of the notary, land title, taxation, financing from France… nothing can be improvised.
This guide is designed for a French buyer wishing to purchase an apartment in Morocco. It provides a step-by-step method to minimize legal and financial risks while optimizing the purchase structure.
Understanding what a French person is allowed to buy in Morocco
Before talking about visits and negotiation, you need to clearly understand the legal framework. The good news is that for a French person, the rules are clear and rather favorable.
Foreigners – including French people – are free to buy apartments, houses, villas, riads, and commercial premises in urban areas, provided the property has a land title (titre foncier or TF) duly registered with the National Agency for Land Conservation, Cadastre, and Cartography (ANCFCC). In this urban segment, foreigners enjoy virtually the same property rights as Moroccans: they can buy, own, rent, mortgage, and resell.
Agricultural land is prohibited from direct acquisition by foreigners. Some villas on the outskirts may be on land classified as agricultural, hence the need to verify the nature of the plot with the ANCFCC and the existence of a change-of-use authorization (AVNA certificate).
In practice, for a French person targeting an apartment in Casablanca, Rabat, Marrakech, Agadir, Tangier, or Fez, the classic approach is to buy a condominium unit in a building, with an individual land title and condominium bylaws. This is the easiest path to finance, legally secure, and resell.
Land title: the key to security
The land title is the “holy grail” of legal security in Morocco. Without a TF, the property is very difficult to finance, riskier to buy, and complicated to resell. The Moroccan system is based on a principle: as long as a right is not registered in the land registry, it cannot be enforced against third parties. In concrete terms, the true owner is the one whose name appears on the land title at the ANCFCC.
For a French buyer, the safest strategy is to focus exclusively on apartments that already have a land title (TF), especially for a first investment in the country.
Step 1: Do your “financial self-portrait” before any search
The most common mistake foreign buyers make is falling in love with a seaside apartment… before actually knowing how much they can invest, how to bring the funds into Morocco, and possibly how to get financing.
In 2026, the banking framework is structured: the Exchange Office requires that any foreign real estate investment be traced through the Moroccan banking system. Without this traceability (transfer certificate, exchange slip, convertible dirham account), it is impossible to legally repatriate the proceeds from a later resale.
The starting point is therefore to conduct a very realistic “financial self-examination”.
Define your total budget, not just the purchase price
Contrary to popular belief, buying in Morocco is not just about the price listed in the advertisement. You must include:
Beyond the purchase price, several fees can impact your budget. Here are the three main categories to anticipate.
Registration fees, land conservation, notary, possible agency fees, lawyer, translations, and bank charges.
Budget for kitchen, air conditioning, bathroom renovation, or bringing things up to standard.
Annual taxes, condominium fees, regular maintenance, and if renting, management and vacancy periods.
Studies agree: in 2026, the total acquisition cost and taxes for a foreigner amount to between 8% and 11% of the property price. The absolute minimum, even without an agency or lawyer, rarely falls below 6–7%.
This can be summarized as follows:
| Main cost item | Order of magnitude (2026) |
|---|---|
| Registration fees (apartment) | 4% of price |
| Land conservation / TF registration | 1 to 1.5% of price |
| Notary fees (excluding disbursements) | 0.5 to 1.5% of price (progressive scale) |
| Agency fees (if buyer’s responsibility) | 2 to 3% + VAT |
| Lawyer, translations, misc. | 0.5 to 1% of price |
| Total “typical” for a foreign buyer | 8 to 11% of price |
For an apartment at 1,000,000 MAD, it is reasonable to budget 80,000 to 110,000 MAD in additional costs, equivalent to approximately €8,000 to €11,000.
Example budget: an 80 m² in Agadir
Available data indicates an average price of 8,000 to 10,000 MAD/m² for Agadir. An 80 m² unit therefore typically falls between 640,000 and 800,000 MAD. Adding 8 to 11% in fees, the total cost to finance is closer to:
| Apartment price | Fee range (8–11%) | Total budget to plan |
|---|---|---|
| 640,000 MAD | 51,000 – 70,000 MAD | 691,000 – 710,000 MAD |
| 800,000 MAD | 64,000 – 88,000 MAD | 864,000 – 888,000 MAD |
Thinking in terms of “purchase + fees” helps avoid targeting a property that is too expensive and would blow the budget once you’re before the notary.
Financing with cash, French credit, Moroccan credit… or a mix
For a French person, several scenarios are possible.
Cash purchase via savings: you need to transfer funds to a convertible dirham account in Morocco to get the exchange certificates. Credit in France: secure it against a French residence, often with lower rates and an existing banking relationship. Credit from a Moroccan bank (Attijariwafa, Banque Populaire, Bank of Africa, CIH, etc.): possible but more demanding, with rates of 4–6% for the best profiles and 5.5–7% for riskier non-residents.
In practice, a non-resident French buyer should expect to put down 30 to 40% of the property price if they want local credit, and up to 50% if their file is weaker. Loan terms are typically up to 20 to 25 years.
Banks systematically check: pay slips, tax returns from the last 2 to 3 years, bank statements, employment contract, and even accountant statements for self-employed individuals. All these documents often need to be translated and apostilled to be accepted.
Step 2: Open a Moroccan bank account and arrange the fund transfer
Once the financial capacity is clarified, it is highly recommended – even indispensable – to open a bank account in Morocco, specifically a convertible dirham account. This type of account allows:
To benefit from the ability to repatriate the proceeds from a resale, you must receive funds from France in foreign currency (EUR, USD, etc.), convert them into dirhams, and obtain the necessary exchange documents (transfer certificate, exchange slip, single form) proving that the investment was made in foreign currency.
The Moroccan Exchange Office requires this traceability. Without it, a French person who resells their apartment would not be able to legally send the money back to France. They would be stuck in non-convertible dirhams.
Banks like Attijariwafa or Banque Centrale Populaire open accounts for non-resident foreigners with a passport and proof of address. No residence permit is required. A simple proof of address (electricity bill, etc.) is enough for most institutions.
Step 3: Target the city and type of apartment
For a French person, the choice of city depends on both the life project and the financial project: personal pied-à-terre, retirement, pure rental investment, seasonal rental, long-term… Markets vary greatly from one city to another.
Compare the main urban markets
Price data and yield data reveal very distinct city profiles.
| City | Market profile | Average prices (order of magnitude) | Typical gross rental yield |
|---|---|---|---|
| Casablanca | Economic capital, most liquid market | 10,000 – 26,000 MAD/m² depending on neighborhood | 5 to 7% (approx. 7% on average) |
| Rabat | Administrative capital, very stable | 12,000 – 21,000 MAD/m² for good neighborhoods | 5 to 6.5% |
| Marrakech | Key tourist destination | 8,000 – 25,000 MAD/m² (higher in premium areas) | 7 to 10%, up to 12% in seasonal |
| Agadir | Relaxed beach resort | 8,000 – 10,000 MAD/m² (“budget-friendly” city) | 5 to 7% in seasonal, ~4.8% in long-term |
| Tangier | Booming port city | 11,000 – 17,000 MAD/m² depending on area | 4 to 6%, up to 8–9% in some cases |
| Fez, Essaouira | More affordable cities | Around 7,500 MAD/m² for Fez; moderate prices in Essaouira | 6–9% possible depending on location |
For a French person looking for an apartment that is both pleasant for themselves and profitable in seasonal rental, Marrakech and Agadir stand out strongly. Marrakech offers the best Airbnb yield prospects (7–12% gross, even higher on some highly optimized properties), while Agadir offers a beachside setting appreciated by retirees and a more peaceful daily life, with per-square-meter prices still reasonable.
Focus on Agadir: a textbook case for a French pied-à-terre
Agadir is a good example of what a French person might look for in a first purchase: a large beach, a nearby airport, modern residences, and an accessible market. Average prices, depending on the neighborhood, range around 8,000 to 10,000 MAD/m². You can find:
A choice of sizes suited to every need and real estate project
Compact units, ideal for a first purchase or a pied-à-terre
Comfortable sizes, perfect for a couple seeking a main home
Spacious units, suitable for seasonal rental for families
Exceptional properties in upscale residences with pool, sea view, and large terraces
Agadir is also considered a “budget-friendly” city, with prices significantly lower than Casablanca or Rabat, while offering good potential for vacation rentals, especially in neighborhoods like Founty or the Marina.
Step 4: Organize the search and visits
Once the city is targeted and the budget set, the “hunt” phase begins. For a French buyer, the temptation is to rely solely on major listing portals. However, the Moroccan market remains very intermediary and relationship-based.
Multiply channels but provide legal oversight
Sources are numerous: listing sites, agencies, developers, social networks, word of mouth. To avoid bad surprises, several reflexes are essential:
For a successful real estate purchase, be accompanied by an independent local property hunter, have all documents checked by a separate specialized lawyer, and always visit properties in person without relying solely on videos.
Classic criteria remain relevant: quality of the residence (doorman, elevator, parking, pool, gym), orientation, floor, insulation (double glazing), general condition or recent renovations (fitted kitchen, air conditioning, modern bathroom), proximity to shops, transport, and for a French person, distance to the airport.
Test the neighborhood “in real conditions”
An interesting recommendation for expatriates is to test the neighborhood for 72 hours, at different times (7 a.m., 2 p.m., 8 p.m.), going to the pharmacy, supermarket, nearest hospital, and taking public transport. The goal is to check daily functioning rather than the tourist appearance: noise, traffic, perceived safety, quality of services.
This approach is particularly useful in Marrakech or Agadir, where some neighborhoods very pleasant for short vacations may prove less practical year-round.
Step 5: Negotiate and sign the preliminary sale agreement
Once the ideal apartment is found and visited several times, the negotiation phase begins. In Morocco, as in France, the listed price is often just a starting point. Not only the amount is negotiated, but also:
– Payment deadlines
– The key handover date
– Any work the seller agrees to do before the sale
– Whether furniture and equipment are included
Preliminary sale agreement: a key document, but not yet the final sale
When an agreement is reached, a preliminary sale agreement (compromis de vente or promesse de vente) is signed. This document commits the seller and buyer to conclude the final sale if certain conditions precedent are met (obtaining credit, verifying the land title, absence of disputes, satisfactory building inspection, etc.).
The preliminary agreement is signed at the notary’s office with a deposit of 10% of the price, paid exclusively into the notary’s escrow account (often with the Caisse de Dépôt et de Gestion), never directly to the seller or an agent.
Usual rules:
– If the buyer withdraws without a reason stipulated in the contract, they lose their deposit
– If the seller backs out without legitimate reason, they must return the deposit and sometimes double it
For a French buyer, the preliminary agreement must include clear clauses: condition of obtaining credit, complete verification of the land title, automatic cancellation if the special authorization from the Ministry of the Interior is not granted, or if the technical inspection reveals a major defect.
Deposit amount: practice and strategy
Mentioned practices indicate a usual deposit of 5 to 10%, with 10% being the most common. For a purchase at 1,000,000 MAD, the deposit is therefore around 100,000 MAD.
For a French person buying remotely, this deposit must also follow exchange rules: wire transfer in foreign currency from a foreign account to the Moroccan notary, with a transfer certificate issued by the bank.
Step 6: Due diligence, notary, and lawyer
It is during this phase that the essence of legal security comes into play. In Morocco, the notary is a mandatory public officer for any real estate sale. However, their role is more procedural than truly “advisory” for the buyer. That is why, for a French person, it is highly recommended to also involve a Moroccan lawyer specialized in real estate law.
Role of the Moroccan notary
The notary handles several tasks:
The notary must verify the land title with the ANCFCC (owner’s identity, area, cadastral reference, boundaries), check for any liens or mortgages via the mortgage certificate, ensure compliance with urban planning rules from the municipality or Urban Agency (development plan, land use), collect the deposit and then the balance of the price into their escrow account, draft the final deed of sale (acte de vente or acte d’achat), withhold and remit taxes and fees related to the transaction, and file the deed with the ANCFCC for registration in the land registry to obtain the new land title in the buyer’s name.
Using a notary is therefore not just advisable but legally mandatory. In 2026, all real estate purchases must go through one.
Role of the lawyer: the French buyer’s “safety net”
The specialized lawyer, preferably bilingual French-Arabic, plays a role closer to that of a personal advisor:
During a real estate purchase, it is crucial to meticulously check the ownership history and any undeclared heirs, the condominium bylaws and disputes, urban planning permits and the certificate of conformity, as well as the occupancy permit for recent developments. It is also necessary to compare the cadastral plan with the actual land, and for off-plan purchases (VEFA), check the developer’s approval, the bank guarantee, and the validity of the building permit.
For a French person unfamiliar with Moroccan legal culture, this extra layer of security is well worth its cost (often 0.5 to 1% of the price).
Property verification checklist
A complete due diligence should include at least:
– Copy of the land title and recent mortgage certificate excerpt
– Seller’s ID (CIN or passport)
– Acquisition history of the property (previous deed of sale)
– Latest tax notices (property tax, municipal services tax)
– Condominium bylaws and up-to-date status of charges, with a certificate from the syndic
– Occupancy permit or certificate of conformity for recent buildings
– Up-to-date version of plans filed with the municipality
– Water and electricity consumption records (to verify the actual situation and any unpaid bills)
Step 7: Obtaining credit (if local financing)
If the project relies on a Moroccan loan, the period following the signing of the preliminary agreement is used to put together the credit file. Banks ask a non-resident French person for:
– Passport (all pages)
– Proof of address less than 3 months old
– Bank statements from the last 3 to 6 months
– Pay slips, tax notices, employment contract, or financial statements for self-employed
– Possibly, an employer’s or accountant’s statement
– Preliminary sale agreement and property documents (land title, etc.)
Financing for non-residents is generally capped at 50% of the property price.
For a French person who earns income in euros, Moroccan banks accept foreign income but apply a reference exchange rate, sometimes slightly discounted (2 to 3%) to protect against volatility. Monthly payments are in dirhams, creating an exchange rate exposure that must also be factored into the calculation.
Step 8: Signing the deed of sale at the notary’s office
When all conditions are met (clean land title, credit granted, zoning confirmed, certificate of conformity, etc.), the notary summons the parties to sign the final deed of sale.
On the day, the French buyer must:
– Present their passport
– Have transferred the balance of the price (minus the deposit) to the notary’s account, via the official banking system
– Pay the notary the fees, taxes, and charges (often deducted directly from the transferred funds)
– Ensure the property will be free of any occupancy (no remaining tenant, no actual occupant) on the agreed date
The deed of sale specifies the price, the legal description of the property, the identities of the parties, the payment terms, and specific clauses (e.g., existence of a loan, special conditions).
Once the deed is signed and funds released, the notary proceeds with registration and filing with the ANCFCC. A few weeks later, the new land title in the buyer’s name is issued. It must be kept safe, as it constitutes proof of ownership.
The overall duration of the process, if the file is complete, is often between 4 and 8 weeks from the preliminary agreement to the final deed, excluding initial search time.
Step 9: Post-purchase formalities and ongoing taxation
Becoming an owner in Morocco involves recurring costs that a French person must factor in even before signing.
Annual property taxes
Two main taxes apply to housing:
– Property tax (taxe d’habitation)
– Municipal services tax
Their amount depends on the official rental value of the property and the occupancy status (primary residence, secondary, rental). For an average apartment around 1.5 million MAD, the annual bill typically ranges between 3,000 and 12,000 MAD. New buildings often benefit from a property tax exemption for the first 5 years.
If the apartment is your primary residence, only a fraction of the rental value is taxed, thus reducing the tax burden. However, using it as a pied-à-terre subjects you to applicable local rules.
Rental: income, yields, and taxation
For a French person planning to rent out their apartment, it is useful to have some orders of magnitude. 2026 data shows:
– An average gross rental yield on residential property in Morocco of around 5.3%
– Higher yields on smaller units (studios, one-bedroom, two-bedroom) possibly reaching 6 to 9% gross
– Gross yields of 7 to 10% in Marrakech, with up to 12% in very good season on some well-managed Airbnbs
– In Agadir, a gross yield of around 4.8% in long-term rental, but higher in seasonal in good neighborhoods
For a French investor, a gross yield above 6% is considered “good,” provided that costs (condominium fees, management, maintenance) and taxation (income tax on rents, local contributions, possible withholding tax) are under control.
Threshold in MAD below which rental income in Morocco is taxed at 10% instead of 15%
Capital gains tax
In case of resale, a tax on real estate profits (TPI) of 20% on the net capital gain applies, with a minimum of 3% of the sale price. Exemptions exist for a primary residence occupied for several years, and for small total capital gains below 60,000 MAD per year.
For a French person who buys an apartment in Morocco without living there permanently, it is prudent to assume that a significant capital gain will in principle be taxed at 20% in Morocco, before possible coordination with the French tax authorities.
Residence in Morocco: what buying an apartment changes (or doesn’t)
Owning an apartment in Morocco does not grant an automatic visa, residence permit, or citizenship. The law is clear: real estate is not an “express passport.” However, being a property owner is a serious asset for a residence application, as it proves local ties and a certain financial capacity.
A French person can:
First buy an apartment as a tourist without a residence permit. Then, submit a residence card application to the Foreigners’ Office with the required documents: property deed, proof of income, health insurance, criminal record extract, and medical certificate. After the 2025-2026 reforms, procedures are faster if the file is complete and translated into French or Arabic.
Buying an apartment therefore remains one piece of the puzzle for anyone considering living part of the year in Morocco, but it is not enough on its own to automatically grant residency.
Choosing the right structure as a French person
For a buyer from France, the challenge is not just to correctly follow the Moroccan steps, but also to optimize the entire setup:
Financing: compare the French rate (often lower, secured against a French property) with the Moroccan rate (higher but in dirhams, limiting exchange rate risk). Taxation: anticipate income tax on rents and capital gains in Morocco, tax treaties with France, and tax residency. Currency: manage the euro/dirham risk if the credit is in euros and rents in dirhams, or vice versa. Inheritance: consider Moroccan inheritance law if resident, affecting ownership of the property.
For substantial budgets (e.g., acquiring two or three apartments), seeking advice from a tax lawyer who masters both systems (French and Moroccan) quickly becomes essential.
Summary: The step-by-step for a French person in 2026
Underlying all these elements, we can draw an operational roadmap for a French buyer who wants to become owner of an apartment in Morocco in 2026:
1. Clarify your total budget (target price + 8 to 11% fees + margin for renovations). 2. Choose the city and type of property according to your goal (pied-à-terre, retirement, seasonal rental, long-term). 3. Open a convertible dirham account at a Moroccan bank and arrange transfers from France with all exchange certificates. 4. Identify a Moroccan notary and a real estate lawyer from the research phase. 5. Start the property hunt by combining visits, comparisons of actual prices, and testing the neighborhood. 6. Negotiate and sign a preliminary agreement with a deposit (5 to 10%), strong conditions precedent, and the deposit in the notary’s escrow account. 7. Let the notary and lawyer conduct complete due diligence (land title, urban planning, condominium, taxation, diagnostics). 8. Obtain Moroccan credit or finalize French financing. 9. Sign the deed of sale and pay the full price along with fees and taxes via the notary. 10. Receive the keys, do a condition report, put utilities in your name, and follow the issuance of the new land title at the ANCFCC. 11. Organize property management (personal or agency) and comply with Moroccan and French tax obligations.
By following this sequence, surrounding yourself with independent professionals, and accepting the traceability logic imposed by the Exchange Office, a French person can buy an apartment in Morocco in 2026 under secure conditions, while taking advantage of a real estate market that remains, in many cases, 73 to 78% cheaper than that of the United Kingdom, and significantly cheaper than French real estate.
Morocco offers a rare combination of proximity, attractive living environment, competitive prices, and rental yield, whether for a pied-à-terre, a riad, or an income-generating apartment. To make this project of pleasure and wealth building a reality, it is imperative to respect all legal, banking, and tax steps.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
