Buying a property by design (VEFA) in Morocco: advantages, legal guarantees, and how to protect your money

Selling off-plan property, also known as “buying on design” (VEFA - Vente en l'État Futur d'Achèvement), is one of the most common ways to acquire housing in Morocco. This formula allows the buyer to obtain a brand-new property at a below-market price, but it requires legal awareness to avoid any surprises.

If you are thinking about reserving an apartment or villa that is still under construction, here is everything you need to know to ensure your rights and the success of your investment.

1. Why do many people prefer buy over design (VEFA)?

Buying a property before its construction is completed offers a number of attractive advantages:

Competitive prices: The price of the property at the beginning of the project is often 10% to 20% lower compared to its price after the completion of the works.

Flexibility in performance: Do not pay the full amount in one lump sum. Rather, the performance is divided into installments linked to the progress of the works (for example: upon booking, upon completion of the foundations, upon placing the roof, upon delivery).

Possibility of modification (Sur-mesure): Early purchase gives you the opportunity to negotiate with the real estate developer to modify the interior design, such as changing the division of rooms or choosing the quality of tile and paint.

2. Legal framework: How does VEFA protect the buyer?

To avoid problems of fraud or delayed delivery, the Moroccan legislator established a strict law (Law 107.12) that frames this process and imposes guarantees on the real estate developer:

Allocation contract (Contrat de réservation): An initial document that guarantees you the reservation of the property, and the developer is not entitled to request an advance exceeding 5% of the total value at this stage.

Bank guarantee of default (Garantie d'achèvement): This is the most important guarantee you should ask for. It obligates the bank to return your money or finance the completion of the project in the event that the real estate developer goes bankrupt or stops construction.

The initial contract (Contrat préliminaire): It is signed by a notary after obtaining the building permit, and it precisely specifies the selling price, property specifications, and delivery date.

3. Practical steps to avoid the risk of delay

Despite legal guarantees, delay in delivery remains the biggest concern. To reduce this risk:

Choose a reliable real estate developer: Research the company’s history, check its previous projects and its commitment to delivery dates and construction quality.

Verify the building permit: Do not sign any initial contract or pay large sums of money before you are sure that the project actually has a building permit from the competent authorities.

Include a penalty clause: Make sure that the contract includes a late fine paid by the real estate agent in the event that the agreed upon delivery date is exceeded (clearly written in the contract).

4. Receiving the property (La Liveraison)

When the works are completed and the developer obtains a residence permit (Permis d'habiter), you will be invited to inspect the property. Do not sign the final receipt report and do not pay the final payment until you are completely certain that the property conforms to the specifications mentioned in the contract and is free of defects (cracks, plumbing, or electrical problems).

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