Riad in Marrakesh as a short term rental

MedinaMoonshine Member

Member since 17 December 2023

MedinaMoonshineMember17 December 2023 16:33:52

Hey everyone,

I live in the US married to a Morrocan. My wife's Moroccan heritage and my own travels have led me to appreciate the captivating culture and architecture of Morocco, particularly its traditional riads.

I'm finally starting to seriously consider making the leap (eventually!). My dream involves owning a charming riad in the medina, and maybe even calling it home someday. But before I get carried away painting daydreams, I need some real-world advice. My budget is $400K-$500K.

Here's the deal: I'm thinking of partnering with a local family (my wife's family) to invest in a 5-bedroom riad. The idea is to use it as a short-term rental when I'm not there, generating income and supporting the family through tourism.

But I'm not naive. I know the Marrakech market is competitive, and I'm unsure about the long-term viability of this idea. My questions for you, wise forum folk, are:

Investment sense: Is a riad a good investment in today's Marrakech market? Are there hidden costs or challenges I haven't considered?

Alternative paths: Are there other, less capital-intensive ways to connect with Marrakech and the local community?

I'm open to all kinds of insights, experiences, and even cautionary tales!聽 Thanks in advance, and cheers to Moroccan adventures!

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Said Idouarab Contributor

Member since 13 August 2021

Said IdouarabContributor17 December 2023 17:40:10

104

@MedinaMoonshine聽 Save you money and invest it near you in your country. partnerships with families in morocco never ends well. as someone who experienced it please do not do it. any investment in morocco is a very bad idea. that is my honest openion and advise. good luck.

MedinaMoonshine Member

Member since 17 December 2023

MedinaMoonshineMember17 December 2023 23:24:53

@Said Idouarab Thanks for your reply. Apart from family why do you think investing in Marrakesh does not make a lot of sense?

Said Idouarab Contributor

Member since 13 August 2021

Said IdouarabContributor18 December 2023 08:14:39

104

Any investment in morocco comes with lots of red tapes and lots of bribing of officials at all levels even for a simple piece of documents. as for the taxes that businesses pay ( unless you are one of the crooked gang ) they are usually random and high. you pay first them complaint after. they will always find a way to make your life as a businessman hard with the objective to make you always pay bribes to all sort of afficials. My friend has a pharmcy and analysis lab above it. an official has asked him to pay a monthly bribe which he refused to pay. this official has asked few street venders to park and sell their goods in front of his pharmacy blocking his entrances. he complained to the authorities but nothing happened. he was forced to pay the monthly bribe which mad the venders disappear. imagine what could happen if you have a hotel and if you are not paying bribes? good luck

halima seocom Member

Member since 13 December 2021

halima seocomMember16 January 2024 15:49:17

@MedinaMoonshine Please don't believe him, if what he's saying is true then why hundreds of French are investing every year in Riads ? I might understand his point of view about partnering聽 with your in laws but believe me it is a very good investment and you can also give it to an one of the airbnb conciergeries iin the city to take care of it.

I will also recommend *** real estate agency they will give you all the information you need and they have a wide selection of Riads for sale in Marrakech

Best of luck.

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