Morgan & James Real Estate Agency analyses Casablanca's luxury property market in 2025: current state, trends, and a neighbourhood-by-neighbourhood breakdown
By Morgan Richez and Hayatte Loukili, co-founders of Morgan & James Moroccan Realty.
Casablanca remains Morocco’s economic engine in 2025, and its luxury real estate market reflects this singular status: more international in character, more polarised, and more sensitive to economic cycles than Rabat’s. The city combines a series of contrasting forces: strong demand from entrepreneurs, expatriates, and prominent local families, alongside an abundant supply of new-build developments that, when poorly calibrated, can weigh on resale values.
Against this backdrop, the premium segment stands out for its resilience, underpinned by prestigious addresses, exceptional properties, and integrated services.
On the macroeconomic front, Casablanca benefits from a stabilised monetary environment. Bank Al-Maghrib’s benchmark rate, maintained at 2.25%, and inflation normalising at an average of 1% in 2025 have allowed mortgage rates to become competitive once again, settling at around 5% for residential purchases. Unlike Rabat, however, the Casablanca market is driven more by cash transactions and wealth management decisions made by Moroccan and foreign investors.
A market polarised between new developments and historic stock
In 2025, the average price of luxury apartments in Casablanca stands at around 15,800 MAD per sq m, a modest increase from 15,300 MAD per sq m in 2024. This headline figure, however, conceals significant variation. Premium new-build schemes in Anfa, Racine, and CIL are priced between 18,000 and 25,000 MAD per sq m, while older buildings that are well maintained and well located are trading at between 13,000 and 17,000 MAD per sq m.
The villa market shows even greater disparity. In Anfa Supérieur, certain renovated properties with ocean views regularly exceed 30,000 MAD per sq m, while in Californie and Ain Diab, standard renovated villas trade between 16,000 and 22,000 MAD per sq m. Vacant land plots remain highly sought after but increasingly scarce, with values continuing to climb in strategic locations.
Who is buying in 2025?
The profile of Casablanca buyers differs markedly from those in Rabat. Three broad trends are emerging:
- Moroccan entrepreneurs and business leaders, often active in finance, international trade, or major corporations, seeking secure villas in Californie or Anfa.
- Expatriates and senior international executives attracted by high-end apartments close to the business district (Maarif, Anfa, Racine), typically in new-build residences with concierge services and round-the-clock security.
- Families from the Moroccan diaspora, who favour prestige secondary residences, particularly along the Aïn Diab oceanfront or within gated new-build developments with hotel-grade amenities.
These buyers share a common set of expectations: seamless services, security, and the confidence that their investment will hold its value over time. Unlike Rabat, proximity to institutions carries less weight here than lifestyle and business considerations.
Infrastructure and the business hub factor
Casablanca’s property values are closely tied to its status as the country’s economic capital. Casablanca Finance City (CFC), now a recognised pan-African hub, continues to attract regional headquarters and expatriate talent, reinforcing demand for premium apartments within its orbit.
On the mobility front, the expansion of the tram network and improvements to major road arteries (notably the urban ring road) are improving connectivity in areas such as Sidi Maârouf and Aïn Sebaâ. That said, the most coveted neighbourhoods remain those combining swift access to the city centre with residential quality: Racine, Anfa, CIL, and Californie. The anticipated extension of the tram line towards Aïn Diab is already shaping upward value expectations in that corridor.
Neighbourhood guide: where buyers are looking
Anfa and Anfa Supérieur
The historic symbol of Casablanca luxury, Anfa Supérieur concentrates exceptional villas and recent residences built to international standards. Properties with ocean views and contemporary architecture regularly exceed 25,000 MAD per sq m. The scarcity of available stock explains the stability, and in some cases the appreciation, of values despite competition from new-build supply in Aïn Diab.
Racine
Racine remains the heartland of the prestige apartment market. Recent buildings, duplex units with terraces, secure parking, and immediate proximity to premium retail make it an indispensable address. Prices range between 18,000 and 22,000 MAD per sq m, with a premium commanded by perfectly maintained properties.
Californie
This residential neighbourhood, a firm favourite with affluent families, offers spacious villas and gated communities with private security. Renovated villas trade at around 18,000 MAD per sq m, though large plots on the main thoroughfares comfortably exceed 20 million MAD.
Aïn Diab
The Aïn Diab oceanfront, long associated with leisure and private beach clubs, is firmly establishing itself as a prestige residential address. Sea-view apartments and modern villas with pools and panoramic terraces are reaching 20,000 to 28,000 MAD per sq m. Recent branded residence projects are reinforcing the area’s appeal.
What discerning buyers are looking for
The experts at Morgan & James are observing a marked increase in the rigour of technical and legal due diligence:
- The requirement for a full technical survey covering utilities, insulation, air conditioning, and home automation systems.
- Stringent verification of the legal security of land titles, particularly for older villas or those that have been extended.
- Growing demand for professional property management services, including concierge and internationally managed co-ownership.
- A premium placed on locations close to business centres and international schools, considered essential by the expatriate clientele.
The branded residences effect in Casablanca
Unlike Rabat, Casablanca is seeing a proliferation of branded residence projects, frequently associated with international hotel groups. These developments, located in Aïn Diab and Anfa, are priced at 30 to 35% above comparable buildings without hotel-grade services. The proposition rests on security, concierge, centralised maintenance, and brand prestige, attributes that resonate particularly strongly with foreign buyers.
Outlook for 2025: selective stability, qualitative scarcity
The Casablanca market is expected to remain selective in 2025. The best-located and best-maintained properties will continue to sell quickly, while poorly renovated older apartments and oversized villas risk reduced liquidity. Experts anticipate average price growth of 3 to 4% in the premium segment, concentrated in Anfa, Racine, and Aïn Diab.
Price reference points
- High-end apartment of 180 sq m in Racine with double parking: 18,000 to 22,000 MAD per sq m.
- Contemporary villa in Anfa Supérieur with ocean view: 25,000 to 30,000 MAD per sq m.
- Gated development in Californie, renovated villa of 600 sq m on 1,000 sq m of land: around 20 million MAD.
- New-build apartment in Aïn Diab within a branded residence: 30,000 MAD per sq m and above.
Practical guidance from Morgan & James for 2025
For sellers, the key lies in thorough technical and legal documentation: plans, invoices, clear titles, maintenance certificates. For buyers, the winning approach involves a comprehensive audit, precise comparison between neighbourhoods, and realistic anticipation of ongoing costs, particularly in serviced residences.
Key takeaways
Casablanca in 2025 confirms its status as a dynamic but polarised luxury market. Historic neighbourhoods such as Anfa and Racine retain their appeal, while Aïn Diab is consolidating its position as a premium oceanfront address. The rise of branded residences, the entrenchment of the business hub, and the professionalisation of property services position the city as a more internationally oriented market than Rabat, and a more demanding one for both sellers and buyers alike.
This article was written by Morgan Richez, real estate expert in Morocco.
