I want to buy a Riad - does anybody out there have experience?

Hello rkotcher,

Welcome to Expat.com 

Thank you for sharing your plans with us.

I hope that someone will be able to assist you with all details soon. 

Cheers,

Cheryl
Expat.com team

Thank you, Cheryl!

Hi, my wife grew up in Riad 100M from the main square Jemma el Fna close to Cafe France and the souk area right in front of their house. Those Riads in Jemma el Fna area have gone way up in price ( several hundred thousand Euros) when available or greater than $200,000 Euros for a fixer upper. I recommend looking on AirBNB site to see how much they rent for. That should give you an idea.

Regards,

Thanks Yahya411! I've spend a good deal of time on sites like AirBnb and booking.com, and the numbers don't always seem to have a pattern. As far as I can see, the number of rooms and "charm" are the two factors that seem to affect price.

In your opinion, what are the best neighborhoods in the medina to buy? Besides the mains square?

Have a great day!

I got spoiled, because my wife grew up in main market square which is the main tourist section. You just walk out the door and your there. You'll never get bored. Look through these real estate sites. It should give you an idea of how much Riads cost. Avito.ma, Mubawab.ma, and Bosworth Property Marrakech. Bosworth puts out YouTube videos, so search there.

Do you want to buy a full-functioning riad and just take over running the place or are you interested in finding a renovation object?

Hi Queenjani, thanks for your message! I'm not looking to renovate. I'd like to purchase a property that is in good condition. Thanks :-)

Can I ask which price range we are talking about when buying a riad that is in good condition? What offers did you get so far?

My dream would ultimately be to build a riad from scratch, second to renovate an existing riad and add my own design twists, eco architecture, wastewater management... I didn't start looking into it for real yet, still in the drawing and dreaming phase   I'm on the opposite of you, having experience in managing and developing a hotel but I need partners who can invest.

@Gdo Bni I am very much interested to listen to your experience. what would be the best means you would prefer so we can communicate. thanks

Hello El Daly Effendi,

Welcome to Expat.com

Since you are new, do not forget to introduce yourself here > New members of the Morocco forum, introduce yourselves here - 2022.

Cheers,

Cheryl

Expat.com team

@Gdo Bni did you open your Riad yet?

2 years later and resuming the search for a Riad.. life kind of got in the way and haven't had the time to buy yet. Am excited.. Would love to connect with anybody else who is also looking..

@rkotcher Compared to Western property prices, it's still okay to buy something here.

But the thing people struggle with here is always finding good renovation companies. That's where people usually get cheated and taken advantage of.

All the best with your search!

@ExpatServicesMarrakech thank you for your advice. Have you worked with any renovation companies that you'd recommend?

@rkotcher I know that the owner of Café Atay in the Old Medina has a very good construction company and is very trustworthy. He delivers his work on time and uses high-quality materials.

I think he might know where there are good riads for sale. I would just go there and ask for Ahmed. If he is not there, you can leave your phone number, and I am sure he will get back to you.

@ExpatServicesMarrakech thank you for the advice! i will go there!

@rkotcher Proceed with caution, don't get scammed. You must make sure no other family members have interest in the property and all agree to sell. Also, you could go with reputable firm like Bosworth that speak English in Marrakech.