How to buy your first property in Morocco — the complete guide
Budget, down payment, choosing the property, loan, notary and fees: the first-time buyer’s full journey in Morocco, step by step.
The essentials in questions
How much down payment do you need to buy in Morocco?
Generally count on a down payment of 10 to 20% of the price, plus acquisition costs (about 6 to 7%: registration duties, notary, land registry).
What costs come on top of the price?
Acquisition costs are around 6 to 7% of the price: 4% registration duty, ~1% land registry, and the notary’s fees (0.5 to 1% + VAT).
How long does a property purchase take in Morocco?
Between the sale agreement and the final signing, count on 1 to 3 months, the time to obtain loan approval and check the legal status of the property.
1. Define your budget and borrowing capacity
Before visiting a single property, calculate your borrowing capacity. In Morocco, banks cap the monthly payment at around 45% of your net income. Add your down payment (10 to 20%) to know your total budget.
Also anticipate the extra costs: acquisition fees (~6-7%), borrower insurance, possible works and moving costs.
2. Choose the property and negotiate
Compare several properties, check the location, general condition and co-ownership charges. The listed price is rarely the final price: negotiation is customary.
3. Put banks in competition
Don’t settle for your usual bank. Rates and terms vary noticeably from one institution to another. A simulator lets you compare offers quickly before filing an application.
4. Sign at the notary
The sale is concluded with a preliminary agreement then a final deed at the notary (or adoul). Check the land title, the absence of a mortgage and the property’s compliance before signing.
Publisher & sources
By the CréditMaroc editorial team · CréditMaroc
Sources: Bank Al-Maghrib, Tamwilcom, Ministry of Housing
Indicative simulation, not a credit offer. CréditMaroc is not a credit institution.