Most Moroccan vendors in the Medina haven’t dropped their prices despite market values in Morocco falling by up to thirty percent in the credit crisis. It is therefore not the easiest thing sourcing Medina real estate as a Marrakech property agent that represents real value and offers interesting riad renovation opportunities.
This 145m2 titled riad near the Spice Market in the historic heart of Marrakech is perhaps the best value Medina property I have seen all year.
It is located in one of the most popular and authentic areas in the Medina.
It has parking right by it, so it is both accessible and practical to live from and is situated near to the souks; Ben Youssef, the Museum of Marrakech and the Maison de la Photographie; the popular Foundouk restaurant; and the El Hajra and Adouar tanneries. It therefore is located in an attractive commercial location too.
The riad is both solid and stable, and a symmetrical square shape.
It is spaciously laid out and split up between a separate flat, (accessed from the entrance hall), and the main house. It provides a generous courtyard and feature balcony on the first floor.
Interestingly, the riad presents the option for either simple restoration work, or an uncomplicated, straightforward knock down and rebuild project.
The price has just been reduced to 740,000 dhs.
I would genuinely be hard pushed to find much else this size and cheap and spatial interesting, especially titled. The titling might provide a cost saving of 100,000 dhs.
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