Investment Property in Morocco
Locations - Fez
Oldest imperial city
Fez is the oldest of Morocco’s four ‘imperial cities’ (the others are Marrakech, Meknes and Rabat) and it is the country’s third largest city with a population of just under a million. It is comprised of three parts: Fes El Bali, Fez’s medina, is a UNESCO World Heritage Site and is thought to be the world’s largest car-free urban area; the new Fez, Fes-Djedid; and the Ville Nouvelle, the French-designed new part of the city.
‘Real’ Morocco
Although the city of Fez has a modern district, around a quarter of the city’s population choose to live in the medina. The area has not changed in many years and has little in common with the more Westernised areas in other parts of Morocco. For many visitors, this area is a welcome taste of the real Morocco, where the residents have their own food, dress, sense of cultural identity and lifestyle.
International property purchasers
For those that enjoy the gritty side of the medina experience, Fez El Bali is unmissable; indeed, many tourists have made the jump into purchasing a traditional property (a riad or dar) and restoring it as a second home or investment. Such properties make fashionable and sought-after holiday accommodation when tastefully restored, and with low-cost carriers now operating flights between Fez and the UK, a steady flow of tourists may mean the hard work will translate into solid rental returns. Fez is also increasingly popular with those looking for an investment property in Morocco.
Historical monument
General Lyautey, the French Protectorate’s first Resident-General, ensured the survival of Fez El Bali during the Protectorate when he declared it a historical monument, although its residents at the time considered it a working city. It was once the centre for trade, culture and religion in Morocco, but by making it a ‘monument’, creating the modern Ville Nouvelle nearby, and moving political and economic operations to Rabat, Fez’s ancient way of life was preserved.
Modern Fez
The new Fez, Fez El Djedid, is an attractive quarter, with a number of royal palaces and gardens. It is structured in a more tidy way than Fez El Bali, making it much easier for visitors to navigate. The Ville Nouvelle is a popular area with visitors as well as residents, with many bars, restaurants and cafés throughout the streets. The facilities in this modern area are much more extensive than those in Fes El Bali and Fes El Djedid, where there are few restaurants and no bars.
Related items
Documents and Reports
Morocco property investment report (386Kb) |
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Morocco country guide (954Kb) |
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Morocco property buying guide (828Kb) |
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Other related pages
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10-20% pa for 12 years

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Agricultural land
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