Invest in real estate by the sea: Tangier or Essaouira?

Oct 8, 2024

Overlooking the sea of Tangier

Morocco, with its vast coastline, attracts many real estate investors looking to capitalize on seaside properties. Among the most attractive coastal cities, Tangier and Essaouira stand out as top destinations for real estate investment.

While both cities offer undeniable advantages, they differ in atmosphere, real estate market, and future prospects.

So, Tangier or Essaouira: which city should you choose for seaside real estate investment?

In this article, we analyze the benefits of each city to help you make the best decision.

Tangier: A modern city in full swing

Tangier, nicknamed the "Pearl of the North," is a port city located at the northern tip of Morocco, offering a spectacular view of the Strait of Gibraltar. It is a vibrant metropolis that combines rich history with rapid economic development.

A strategic location

One of the main advantages of investing in Tangier is its strategic geographic position. Located just 14 kilometers from Spain, Tangier boasts direct connections to Europe via the Tanger Med Port, the largest port in Africa. This makes it a hub for economic exchanges, enhancing the city's appeal for foreign investors.

The Tanger Med Port attracts a large number of professionals and international companies, increasing rental demand for modern apartments near the seafront.

A growing demand for seaside properties

The real estate market in Tangier is booming, thanks to massive investments in infrastructure and the development of new areas like Malabata and Iberia. The city offers a wide range of seaside real estate, from luxury apartments to residences for the middle class.

Investing in waterfront apartments or those close to Marina Bay can be an excellent strategy to capitalize on the growing rental demand, particularly for seasonal or long-term rentals.

Still competitive prices despite growth

Even as Tangier is transforming, real estate prices remain competitive compared to other Moroccan coastal cities like Casablanca or Rabat. For an investor, this means significant potential for capital gains in the medium to long term.

Imagine investing in a modern apartment in Tangier, with a breathtaking view of the Strait of Gibraltar, in a city where futuristic projects and economic dynamism offer attractive capital gains prospects.

Opportunities for short-term rentals

Tangier attracts many tourists, expatriates, and business people throughout the year. With its proximity to Europe and sunny beaches, demand for seasonal rentals is rapidly growing, especially during high season.

Essaouira: Timeless Charm for Authentic Investment

Essaouira, the "City of the Trades Winds," is a coastal city on Morocco's Atlantic coast. With its bohemian atmosphere and rich historical heritage, this city offers a different experience from Tangier. Investing in Essaouira means choosing calm, authenticity, and the charm of a city with a peaceful rhythm.

A popular tourist destination

Essaouira is a highly sought-after tourist destination known for its authenticity, fine sandy beaches, and temperate climate. Cultural and seaside tourism is booming, creating high demand for seasonal rentals throughout the year. International tourists flock to enjoy its music festivals, surf spots, and its medina, which is a UNESCO World Heritage site.

Investing in a riad or an apartment near the medina or the port of Essaouira allows you to tap into this growing tourist demand, particularly with platforms like Airbnb or Booking.

A city of controlled development

Unlike Tangier, where economic and real estate development is rapid, Essaouira maintains controlled development to protect its cultural heritage. This means that the real estate market there is calmer and more stable, but with potential for long-term appreciation.

Renovated riads in the medina of Essaouira attract clients seeking authenticity and discreet luxury. A riad can be resold with a nice added value after a few years, especially with the growing demand for guest houses and second homes.

Imagine owning a carefully restored riad in Essaouira, where international visitors come to unwind in a calm and preserved environment, just steps from the ocean.

Accessible prices and an upscale clientele

Essaouira offers attractive purchase prices, especially compared to more developed coastal cities. The real estate market is accessible to both Moroccan investors and expatriates looking for charming properties. Moreover, properties located by the sea or near tourist attractions are in high demand.

Potential for seasonal rental

With a constant flow of tourists, especially surfing and festival enthusiasts, Essaouira is particularly well-suited for seasonal rentals. Tourists are looking for charming accommodations, well-situated, near the beach or the medina.

Tangier vs Essaouira: Which city to choose for investment?

For Tangier:

• Strategic location with direct links to Europe via Tangier Med and the international airport.
• Burgeoning real estate market with still competitive prices and strong appreciation potential.
• Opportunities for seasonal and long-term rentals thanks to the rise in tourism and business.
• International appeal for expatriates and companies.

For Essaouira:

• City with authentic charm, ideal for real estate investment in cultural and seaside tourism.
• Affordable purchase prices with potential for long-term value increase.
• Strong potential for seasonal rentals, especially for tourists seeking authenticity and tranquility.
• A stable real estate market, ideal for investors looking for character properties like riads.

Conclusion: Tangier or Essaouira, it all depends on your strategy.

The choice between Tangier and Essaouira will depend on your investment goals. If you are looking for a dynamic city with strong development potential and rapid growth, Tangier is an excellent choice, especially for investors focused on rental income and capital appreciation.

On the other hand, if you are looking for a more laid-back investment, focusing on authenticity, cultural tourism, and the charm of a quieter town, Essaouira is the ideal destination.

Whatever your choice, both Tangier and Essaouira offer attractive opportunities for investors in seaside real estate.

Ready to invest in real estate in Tangier or Essaouira? Discover the best offers on Housing Place and start your project today.