Summer rental: Demand up 94% in 2022

Summer rental: Demand up 94% in 2022

The supply of properties dedicated to seasonal rental increased by 43.1% compared to the same period in 2021, according to the results revealed by a study carried out by Mubawab analyzing seasonal rental over the period from May to August 2022.

Thus, an increase of +46.4% was recorded for apartments and 23.8% for villas. In this scheme, the rental price was a considerable criterion during this summer period and the northern region is the one that has experienced the greatest increase. “For an overnight stay in an apartment, it is necessary to count, on average, 500 DH in Martil, 300 DH in Chefchaouen, 500 DH in Al Hoceima and 700 DH in Tetouan, i.e. respectively +67, +50, +25 and +75% in comparison with the previous year. For the rental of a villa, the average price is 3,700 DH/night in Tangier, 4,000 DH/night in M’diq, 3,600 DH/night in Cabo Negro and 3,100 DH/night in Martil,” notes the same source.

For one night in an apartment in the city of Marrakech, the average price has remained stable (on average 600 DH). For villas, it is necessary to count, on average, 2,800 DH/night, or +5.6%. In Essaouira, the average price per night for renting an apartment is 400 DH, i.e. +33% compared to last year, while for villas, the prices are 2,000 DH/night on average, i.e. + 14%. Other cities like Casablanca (600 DH), El Jadida (400 DH), Bouznika (700 DH) or even Skhirat (600 DH) keep the same trend in apartment prices as the previous year. The cities of Fez (300 DH), Meknes (400 DH) and Ifrane (400 DH) are those which have recorded the most significant drops in terms of average price per night of apartments with drops respectively of -25, -20 and -20%.

In addition, the demand for real estate dedicated to summer rental also experienced a sharp increase of 94% during the period May-August 2022 compared to the same period of the year 2021, i.e. an increase of +104% for apartments and +18% for villas. “The enthusiasm of Moroccan families, MREs and international tourists has created a dynamic, particularly in the seaside towns of the north and the cities of Marrakech, Essaouira, Casablanca.

Thus, for apartments, this increase in demand was observed mainly in the northern cities: Tangier, Martil, Assilah, M’diq and Saidia with +115%, in Marrakech with +95% and in the city of Essaouira with +204%. For villas, the increase is observed in Tangier (+58%), Essaouira (+66%), Agadir (+47%) and Bouznika (+230%)”, concludes the same source.

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