28 August 2024

Complete Guide to Real Estate Investing in Casablanca with Kensington Morocco

Table of Contents

Introduction

Casablanca, Morocco’s modern jewel, is a destination of choice for real estate investors from all over the world. Harmoniously blending colonial history, Art Deco architecture and economic dynamism, this metropolis offers fertile ground for promising investments and a unique cosmopolitan living experience.

At the house of Kensington Morocco, we are passionate about Casablanca and its real estate potential. Our mission is to guide you through the exceptional opportunities of this fascinating city, offering you our expertise of the local market and our deep understanding of the soul of Casablanca. Whether you are attracted by the charm of an Art Deco apartment in the city center, the elegance of a contemporary villa by the sea, or the potential of a strategic rental investment, we are here to transform your vision into reality.

In this comprehensive guide, we will explore all aspects of real estate investment in Casablanca. From its rich history that shapes its urban landscape to the most promising neighborhoods, the intricacies of the buying process and the city's economic outlook, we will provide you with all the keys to make informed decisions and succeed in your real estate project in the economic capital of Morocco.

The History of Casablanca: A Unique Blend of Tradition and Modernity

Before diving into the practicalities of investing, it is essential to understand Casablanca's rich history, as it is this history that shapes its current attractiveness and future potential.

From the origins to the modern metropolis

Ancient foundation : Founded by the Phoenicians under the name of Anfa, Casablanca has a history that goes back more than two millennia. This ancient Berber city has known several civilizations, each leaving its mark on the city.
Colonial Renaissance : At the beginning of the 20th century, under the French protectorate, Casablanca experienced a meteoric rise, quickly becoming the main port and economic center of Morocco. This period saw the construction of many emblematic buildings that still define the city's urban landscape today.
Iconic architecture : The city is adorned with Art Deco and neo-Moorish buildings, creating a unique urban landscape that today attracts architecture lovers from all over the world. Buildings such as the Lincoln Hotel, the Rialto Cinema or the Sacré-Cœur Cathedral bear witness to this flourishing era and today constitute unique investment opportunities for heritage enthusiasts.

From independence to world metropolis

Post-independence growth : Since Morocco's independence in 1956, Casablanca has continued to develop, becoming the country's economic hub. This growth has been accompanied by significant urban expansion, creating new residential and commercial districts that today offer a diversity of investment opportunities.
Visionary projects : Modern developments such as Casablanca Marina and the Hassan II Mosque are testament to the city’s ambition to position itself as a world-class metropolis. These major projects are not only symbols of modernity, but also catalysts for the luxury real estate market, attracting investors and wealthy residents from around the world.

This rich history is not just a tourist attraction; it is the foundation of Casablanca’s identity and a key element of its appeal to investors. The unique combination of preserved architectural heritage and ambitious urban development creates an exceptional environment for luxury real estate investment.

Why invest in Casablanca?

A dynamic and diversified real estate market

The Casablanca real estate market offers unique opportunities for savvy investors:

Diversity of goods : From luxury studios in the city centre to villas with pools by the sea, Casablanca offers a diverse range of high-end properties. Prices vary considerably depending on location and property type, with luxury apartments starting at around €300,000 and villas can exceed several million euros.
Significant added value potential : With the city’s continued development and the influx of foreign investment, experts predict a steady appreciation of real estate in the coming years. Some booming neighborhoods have seen value increases of $7 to $101 per year in recent years. For example, the Anfa neighborhood saw its prices increase by nearly $151 between 2018 and 2020, offering exceptional returns to early investors.
Attractive rental yields : The luxury rental market in Casablanca is particularly dynamic, offering average annual yields between 4% and 6% for well-located high-end properties. Demand is supported by a growing expatriate population and an expanding local upper middle class.
Renovation opportunities : Historic buildings in the city centre, particularly Art Deco buildings, offer unique opportunities for renovation and conversion into luxury housing or boutique hotels, combining heritage preservation with financial return.

A city in full economic boom

Casablanca is the beating heart of the Moroccan economy, offering an environment conducive to investment:

Financial Hub : Casablanca Finance City, Morocco’s international financial center, attracts businesses and investors from around the world. This ambitious project has already attracted more than 180 international companies, creating a sustained demand for nearby luxury real estate.
World-class infrastructure : The port of Casablanca, one of the largest in Africa, and the ever-expanding Mohammed V Airport, make the city a strategic gateway to Africa. The high-speed line linking Casablanca to Tangier further strengthens the city's attractiveness for investors and businesses.
Sectors of the future : The city is investing heavily in information technology, renewable energy and the aerospace industry, creating an ecosystem that is conducive to innovation and economic growth. The industrial park Midparc, dedicated to aeronautics, has already attracted giants such as Boeing and Bombardier, stimulating demand for high-end housing for expatriate executives.

An exceptional living environment

Investing in Casablanca also means treating yourself to a unique lifestyle:

Mediterranean climate : With warm summers and mild winters, Casablanca enjoys a pleasant climate all year round, ideal for enjoying the many outdoor spaces and activities the city has to offer.
Vibrant cultural scene : Art galleries, international festivals, theaters… Casablanca offers a rich and varied cultural life. Events such as the Casablanca Festival or Jazzablanca attract artists and visitors from all over the world, contributing to the cultural dynamism of the city.
International gastronomy : From Michelin-starred restaurants to trendy bistros, the city is a foodie’s paradise. Casablanca’s culinary scene reflects its cosmopolitan nature, offering a fusion of traditional Moroccan flavors and international cuisines.
Luxury shopping : With high-end shopping malls like the Morocco Mall and Anfa Place, Casablanca has become a leading shopping destination in North Africa, attracting international luxury brands and a wealthy clientele.

The most popular neighborhoods in Casablanca

Anfa

The Anfa district is synonymous with luxury and exclusivity in Casablanca:

Sumptuous villas : Anfa is home to some of the city's most prestigious properties, with villas costing several million euros. These exceptional homes often feature large gardens, private pools and stunning views of the ocean or surrounding green spaces.
Proximity to golf courses : The Royal Golf d’Anfa and the Golf City are major assets for golf enthusiasts. These internationally renowned courses add considerable added value to the surrounding properties and attract a wealthy international clientele.
Premium investment : Properties in Anfa not only offer an exceptional living environment but also excellent potential for long-term capital gains. The scarcity of available land in this sought-after area ensures continued appreciation of real estate.
Anfa Park Project : This major urban development in the heart of Anfa promises to redefine luxury in Casablanca, with high-end residences, extensive green spaces and cutting-edge infrastructure.

Ain Diab and the Corniche

The Casablanca coast is one of the most popular areas for luxury real estate:

Sea view apartments : The luxury residences along the Corniche offer breathtaking views of the Atlantic Ocean. These properties benefit from constant demand, both for purchase and for luxury seasonal rental.
Seaside lifestyle : Private beaches, yacht clubs and beach restaurants make this area a prime place to live. The Morocco Mall, one of the largest shopping malls in Africa, adds an extra dimension to the appeal of this area.
High rental potential : Demand for luxury vacation rentals is particularly strong in this area, offering attractive rental yield opportunities for investors.
Future developments : Projects such as the Casablanca Marina promise to further strengthen the attractiveness of this coastal area, with new investment opportunities in very high-end residences.

The Golden Triangle

The economic heart of Casablanca is also a prime location for high-end real estate:

Luxury apartments : Luxury penthouses and apartments in modern towers offer panoramic views of the city. These properties are particularly attractive to executives and entrepreneurs looking for a pied-à-terre in the heart of the action.
Proximity to business centers : Ideal for investors looking to combine residence and professional opportunities. The presence of major corporate headquarters and Casablanca Finance City ensures sustained demand for high-end housing.
Contemporary architecture : New constructions in this area combine modern design with exceptional comfort. Projects such as the Hassan II Mosque are redefining the Casablanca skyline and offering investment opportunities in exceptional properties.
State-of-the-art infrastructure : The district benefits from the best infrastructure in the city, with international schools, renowned private clinics and high-end leisure spaces nearby.

The purchasing process with Kensington Morocco

At Kensington Morocco, we have developed a tailor-made process to support you at every stage of your investment in Casablanca:

Personalized consultation
1. In-depth analysis of your investment objectives
2. Assessing your budget and lifestyle preferences
3. Detailed presentation of the different districts and types of properties available in Casablanca
Tailor-made tours
1. Organization of physical visits according to your schedule
2. High Definition Virtual Tour Options for Our International Clients
3. Comprehensive presentation of each property, including its history, unique features and investment potential
Negotiation and purchase offer
1. Comparative analysis of market prices to ensure a competitive offer
2. Expert negotiation on your behalf to obtain the best conditions
3. Preparation and submission of a formal and detailed purchase offer
Due diligence and legal aspects
1. Thorough verification of property titles and history
2. Review of building permits and urban planning plans
3. Coordination with specialized lawyers to secure all legal aspects of the transaction
Financing and tax aspects
1. Overview of available financing options, including international loans
2. Advice on the optimal tax structuring of your investment
3. Assistance in opening local bank accounts if necessary
Finalization of sale and after-sales services
1. Coordination of the signing at the notary
2. Management of all administrative aspects of the transfer of ownership
3. Offering comprehensive after-sales services, including rental management, renovation and maintenance

Practical aspects of investing in Casablanca

Legal framework favorable to foreign investors

Morocco, and Casablanca in particular, offers a favorable legal environment for foreign investors:

Guaranteed property rights : Foreigners enjoy the same property rights as Moroccan nationals for residential property. This guarantee extends to full ownership, the right to sell, rent or transfer the property.
No restrictions on resale : Unlike some countries, Morocco does not impose a minimum holding period before resale, thus offering great flexibility to investors.
Repatriation of funds : In the event of resale, the proceeds of the sale can be repatriated without difficulty, subject to compliance with banking formalities. This facility is particularly reassuring for international investors.
Investment protection : Morocco has signed numerous bilateral investment protection agreements, providing additional security to foreign investors. These agreements guarantee fair treatment and protection against expropriation.

Favorable taxation

The Moroccan tax regime offers several advantages to real estate investors:

Registration fees : 4% of the purchase price, a relatively low rate compared to many European countries. This measure encourages real estate transactions and reduces entry costs for investors.
Housing tax : Based on the rental value of the property, it remains moderate compared to international standards. For an average value property in Casablanca, it generally represents less than 1% of the value of the property per year.
Taxation of rental income : Rental income is subject to income tax, with interesting deduction possibilities. For example, for long-term rentals, a 40% deduction is applied to gross income before taxation, making rental investment particularly attractive.
Capital gains : The taxation of real estate capital gains is degressive over time, going from 20% for a holding period of less than 5 years to 0% after 10 years of holding. This tax structure encourages long-term investments and can lead to interesting tax optimization strategies.

Simplified purchasing process

Although buying real estate in Casablanca may seem complex to a foreigner, the process is actually quite straightforward, especially with the help of a partner like Kensington Morocco:

Sales agreement : Once you have found the property that suits you, a sales agreement is signed between the buyer and the seller. This document sets out the conditions of the sale and may include suspensive clauses.
Security deposit : A security deposit, generally 10% of the sale price, is paid upon signing the compromise.
Due diligence : This crucial phase involves the verification of all legal documents relating to the property. Kensington Morocco coordinates this process with legal experts to ensure the security of your investment.
Bill of sale : The sale is finalized before a Moroccan notary. The balance of the purchase price is paid at this time.
Registration : The property is then registered in the name of the new owner with the relevant authorities.

Living in Casablanca: A unique cosmopolitan experience

Investing in Casablanca also means giving yourself the opportunity to live a rich and varied cultural experience:

A city in constant evolution

Casablanca is a city that never sleeps, in perpetual transformation:

Innovative urban projects : The major Casablanca Marina project and the revitalization of the old medina demonstrate the city's desire to reinvent itself while preserving its heritage.
Modern public transport : The expanding tram network and the metro project make it easier to get around the city, increasing the attractiveness of certain peripheral districts for investment.
Green spaces : New parks and green spaces, such as the recently renovated Arab League Park, improve the quality of urban life and add value to surrounding properties.

A vibrant cultural scene

Casablanca is the cultural heart of Morocco, offering a rich artistic and intellectual life:

Museums and galleries : The Al Maaden Museum of Contemporary African Art (MACAAL) and the Villa des Arts are must-see places for art lovers.
International festivals : The Casablanca Festival, Jazzablanca, and the Casablanca Film Festival attract artists and visitors from all over the world.
Theatres and performance halls : The Mohammed V Theater and the cultural complex of the Church of the Sacred Heart offer a varied program throughout the year.

Gastronomy and nightlife

Casablanca's culinary and nightlife scene is one of the most dynamic in North Africa:

Starred restaurants : Renowned chefs like Yannick Alléno at the Royal Mansour Casablanca are elevating Casablanca gastronomy to an international level.
Fusion cuisine : Restaurants like Le Cabestan or Blend combine Moroccan flavors and world cuisines, reflecting the cosmopolitan character of the city.
Trendy bars and clubs : The Gauthier district and the Corniche are renowned for their lively nightlife, with establishments such as Sky 28 and Baromètre Maroc.

International education

For families considering a move, Casablanca offers excellent educational options:

International schools : Lycée Lyautey (French system), the American School of Casablanca, and the British International School of Casablanca offer internationally recognized programs.
Prestigious universities : Hassan II University and ESCA School of Management are renowned for the quality of their teaching.

Health and Wellness

Casablanca has first-rate healthcare infrastructure:

Renowned private clinics : Establishments such as the Ain Borja Clinic or the Cheikh Khalifa Hospital offer international quality care.
Wellness centers : Many high-end spas and fitness centers, such as those at the Four Seasons Hotel Casablanca or the Sofitel Casablanca Tour Blanche, contribute to a healthy and luxurious lifestyle.

Why choose Kensington Morocco for your investment in Casablanca?

Local and international expertise

Multilingual team : Our advisors are fluent in French, English, Arabic and several other languages, making communication easier for our international clients.
In-depth market knowledge : With years of experience in the Casablanca market, we have a keen understanding of the trends and opportunities specific to each neighborhood.
International network : Our affiliation with international real estate networks allows us to offer a global perspective to our clients and attract buyers from all over the world.

An exclusive portfolio

Prestigious properties : Access a catalog of exceptional properties, often exclusive, not available on the open market. This includes ocean-view penthouses, renovated historic villas and luxury apartments in the most sought-after neighborhoods.
Off-market opportunities : Thanks to our local network, we can offer you properties before they are even officially put on sale, giving you a competitive advantage.

A tailor-made service

Personalized support : From research to after-sales, a dedicated advisor supports you at every stage of your project, ensuring a smooth and stress-free experience.
Renovation and decoration services : For investors interested in renovating historic properties or customizing new properties, we collaborate with the best architects and interior designers in Casablanca.
Rental management : For non-resident investors, we offer turnkey rental management services, maximizing the return on your property while freeing you from the constraints of daily management.

Conclusion: Your future in the economic capital of Morocco

Investing in luxury real estate in Casablanca is much more than a simple financial transaction. It is an opportunity to participate in the growth of a rapidly expanding metropolis, to immerse yourself in a vibrant culture, and to benefit from a dynamic real estate market offering excellent return prospects.

Whether you dream of a penthouse with ocean view, from a luxury villa in a popular neighborhood, or to build a portfolio of high-end rental investments, Casablanca offers a range of opportunities as varied as its urban landscape.

With Kensington Morocco as your partner, you not only benefit from top-tier real estate expertise, but also a guide to navigate the intricacies of the Casablanca market. Our commitment goes beyond the simple transaction; we aspire to make your investment in Casablanca a rewarding and profitable experience in the long term.

Don’t wait any longer to explore the unique opportunities that Casablanca has to offer. The economic capital of Morocco awaits you, ready to welcome you into its dynamic and cosmopolitan community.

Make an appointment today with one of our expert advisors. Visit our website kensingtonmorocco.com for an initial consultation without obligation. Together, let's write the next chapter of your story in Casablanca, at the heart of Moroccan innovation and luxury.

Casablanca opens its doors to you. With Kensington Morocco, turn your investment dream into a reality in the city that never sleeps, where every neighborhood tells a story and your future is written in the splendor of an ever-evolving metropolis.