Medina

The Medina is Marrakech's UNESCO-listed Old City, a 11th-century walled district that contains the iconic Jemaa el-Fnaa square, the traditional souks, the Koutoubia Mosque, and most of the city's famous riads (traditional courtyard houses). For decades, foreign buyers have come to the Medina specifically to renovate riads as private homes, boutique guesthouses, or short-let investments. Residential prices for riads range from MAD 6,000-15,000 per square metre (USD 600-1,500) depending on condition and location. Renovated riads in prime areas (around Jemaa el-Fnaa, Bab Doukkala, Mouassine) command premium prices. Gross yields on short-let riads can reach 10-15% with professional management. Lifestyle is intensely cultural and traditional: the souks, Jemaa el-Fnaa's evening transformation, museums, and the unique experience of living within centuries-old walls.

Medina in Marrakech, Marrakech-Safi Region, Morocco