I have been looking in to property prices I have seen listed for sale in Casablanca and am really confused?
I live in one of the most expensive cities in my own country.
When I compare the size of properties and the amenities I am seeing listed online for sale in Casablanca the pricing is comparable to my own city which does not really make sense when you compare the average income of people living in the cities.
This makes me really wonder if most of Casablanca's prime realty is owned by people that don't live in Morocco.
or
Do people that live in Morocco use other methods to buy houses? Are the homes listed online really the ones that are over priced?
Compared to other places I have visited in Morocco I can not see why anyone would choose Casablanca as a vacation home? It is really not the nicest city in Morocco.
Anyone know a bit more about this? We almost bought a detached structure with a garage, main floor commercial space and top level 2 bedroom apartment in Casablanca for a fraction of what I see listed on any of the website I see listed which is really making me confused.
Where do average income Moroccan people live?
I've notice this too. The online price in any big city in Morocco is the same as in USA (medium cost of house in USA is $250,000 USD). Casablanca has the highest cost. Doesn't make sense to me, since labor and building materials in Morocco are much cheaper compared to USA. The quality wouldn't meet building codes in USA. No central AC or heat either. I think foreigners buy property, fix it up, jack up the price, and now local Moroccans coping prices. Of course, 99% of the local Moroccans can't afford to buy these houses or villas with cash. Even the price of land has skyrocketed in Morocco. I don't know why, because the land isn't graded or cleared or has sewage or water lines or electric near by. From what I'm seeing, your are better off buying land and build yourself. You should save half the cost. But, you have to be careful here too, so you don't get ripped off. 20 years ago, you could buy a villa in Agadir for $50,000 USD.
On the other hand, apartments are a bargain in Morocco. Similar to condos here in USA. That's what I'm planning on buying, so I can have multiple locations and possibility to rent them out when not in use.
My Moroccan wife told me you're better off not using realtor and just go looking around for places for sale and buy directly from owner to save some money.
Finally, to answer your question, average Moroccan people live in apartments or live in family's house bought decades ago. I use my wife's family house in Marrakesh as an example. At one time, my wife's 3 of her sisters, 2 of those married at the time with 2 kids each and their husbands, one of her brothers, her Mom, and Dad all lived together in 1 large Riad. When we came to visit and stay for a month with are 2 kids, that was one loud and lively place with the kids playing with each other.
Thanks for the ideas.
My husband and I spoke and he said 100% no to South Morocco as it is too far from where his family is and too hot. Casablanca now looks like a bad deal. The city is not that nice and too expensive for what it has to offer. Plus if the average local person is low income ...... I wont feel comfortable and crime rates will likely to reflect that. What I mean by this is that in general if you have a lot more then the average person you look like a complete jerk walking around with nice things and become a fair target to rob. I don't have to worry about walking around a getting robbed for wearing nice jewlery or designers items where I am from. When in a developing country, at least the ones I am familiar with you can't do this or you are asking for trouble. I don't see why in my old age I should have to stop wearing jewlery and always looking over my shoulder to see who is following me.
I don't see the point of buying an apartment/ house becauseure homes and apartments need to be maintained. I am pushing for him to just buy land. Let it sit there and hopeful increase in value until we either resale it or build. I have no interested in being a landlord. Owning a home in Canada is hard enough to maintain .... I don't need the headache. Also we already do have a home in his city and one in the suburbs just outside of Fes already sitting empty because we do not want to rent.
The goal is to grow wealth with the Moroccan money there and not to put any more money in to Morocco. His city is growing and has more potential then I give it credit for. If I live to double my age I don't to deal with any nonsense and have to remember what I want now will be different later in life.
At $1200 on a good day for a flight to Morocco I do not want to be going back and forth. I would rather go to Florida, Panama, Colombia or Mexico or some nice Caribbean island if I am wanting to relax in the winter when I get old because it is closer, cheaper to get to, better set up to meet my needs as a tourist/ part time resident, less socially conservative and all around a better value. If our daughter ever decides to move to Morocco when she is older then we can see from there.
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