Inside Anfa, the Casablanca Neighbourhood Attracting Multimillion-Dollar Home Buyers - Kanebridge News
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Inside Anfa, the Casablanca Neighbourhood Attracting Multimillion-Dollar Home Buyers

The historic area has long been the city’s most exclusive residential enclave, offering a choice of French colonial homes, traditional Moroccan villas or new builds with plenty of land

By INDIA STOUGHTON
Mon, Jun 3, 2024 8:49amGrey Clock 5 min

Offering a beguiling blend of rich history and cutting-edge modernity, the seaside neighbourhood of Anfa is where Casablanca’s most exclusive and luxurious residences are located.

The historic Moroccan neighbourhood still bears the original name of the port city, which was called Anfa from the time it was founded around the 10th century B.C., up until the 15th century, when its name changed to Casablanca.

“In the 7th century, Anfa was home to a fishing port. It then lost its influence until the period of the French Protectorate,” said Marc Leon, CEO of Christie’s Real Estate Morocco. The French ruled over Morocco from 1912 to 1956, after which Anfa “became one of the most emblematic districts of Casablanca due to its rich and fascinating history, its colonial and Art Deco architecture, its green spaces and the presence of the Royal Golf Anfa Mohammedia, as well as the royal residence,” he said.

The largest city in Morocco, Casablanca is the country’s economic and business capital, but the peaceful residential streets of Anfa offer respite from the hustle and bustle of big city life. The neighbourhood is set between the beachfront and the modern city centre and is known for its historic sites, its hundred-year-old racetrack and its nine-hole golf course. Together with the neighbourhoods of Racine and Gauthier, Anfa forms part of Casablanca’s “Golden Triangle,” offering a mixture of historic and modern homes, primarily villas set amid lush, spacious gardens.

Boundaries

The Anfa neighbourhood runs from the ocean to a small inland hill. It is bounded to the north by the Atlantic Ocean and to the east it extends as far as the city’s railway line and Avenue 2 Mars. To the south, it is bounded by Boulevard Al Qods, and to the west it encompasses the newly developed Casablanca Finance City, extending along the coastline as far as Madame Choual beach.

Price Range

Luxury properties in Anfa range in price from 17,000 Moroccan dirhams (US$1,705) per square meter to 35,000 dirhams per square meter, said Vanessa Bouskila, sales manager at Kensington Luxury Properties Casablanca. The larger the property, the lower the price per square meter, she added. Prices are primarily determined by the property’s location and its views, she said, with seafront properties commanding a premium.

“The most expensive villa currently on the market is listed at US$80 million,” she said, adding that the trophy properties in the neighbourhood were built by famous architects, such as the private Anfa villa designed by French icon Jean Nouvel or the circular Villa Camembert, which was designed in 1962 by German architect Wolfgang Ewerth. Properties with a famous former inhabitant are also in high demand, she said, citing Villa Bolloré, formerly owned by French industrialist Vincent Bolloré.

Housing Stock

Anfa offers a diverse selection of luxury residences, “a combination of old French colonial buildings, traditional Moroccan villas and new modern constructions on large plots of land, most of which have swimming pools,” Leon said. The neighbourhood is also famous for its experimental Art Deco and modernist villas, designed by prominent Moroccan and international architects.

Anfa is divided into four sections, according to Leon. The most exclusive and sought-after residential district is Anfa Supérieur.

Most of the neighbourhood’s new homes have swimming pools.
Courtesy of Kensington Luxury Properties

“Located on a hill near the golf course, the royal residence and the homes of Moroccan notables, it is the most popular area and properties for resale are very rare and therefore very expensive,” he said. The district offers very high levels of privacy and security, he added. “There are no nearby commercial amenities. The area is only residential and isolated from the city. You will not find a single traffic light there.”

Another popular residential area is Anfa Inférieur, “a privileged district at the foot of the hill, delimited by Boulevard André Masset and Boulevard Kennedy,” he said. The neighbourhood also encompasses Anfa Raha, an extension of Anfa which was integrated around 15 years ago and offers properties with particularly large areas of land, starting at 2,000 square meters.

Residents who prefer a more modern milieu are most likely to be drawn to the former site of the city’s old airport, which has been reimagined as a business district called Casablanca Finance City, offering high-end contemporary apartments.

What Makes It Unique

With its easy access to both the seafront and the city centre, Anfa is ideally placed.

“The sea and the corniche with its attractions are a few hundred meters away on foot,” Bouskila said.

Anfa’s Arab League Park is centrally located.
Hans Lucas/AFP via Getty Images

Alongside its uniquely leafy and calm residential streets—where residents can often be seen out for a jog—the neighbourhood offers plenty of green space, including the more than 100-acre Anfa Park, located in Casablanca Finance City, and the centrally located Arab League Park, with its stately row of fountains. The historic Hippodrome Casablanca Anfa was built in 1912, and horses still race along its sandy track.

Historic landmarks include El Hank Lighthouse, which offers spectacular views of the city and sea, Hassan II Mosque, one of the largest in Africa, with space to host over 100,000 worshippers, Mohammed V Square—affectionately known as Pigeon Square in honour of its abundance of the birds—and Casablanca Cathedral, which was built in 1930 and today serves as a cultural centre hosting art exhibitions and events.

Luxury Amenities

“Anfa borders the Atlantic Ocean and the numerous restaurants and private clubs of the Corniche,” Leon said. “On the city side, multiple ultra-modern private medical clinics have been established, which attract local and international patients.” The area also offers some of the city’s finest luxury shopping opportunities, with a wide range of upmarket international brands available in Morocco Mall and the Anfaplace Mall.

“The most popular sport is golf,” Bouskila said. Royal Golf Anfa Mohammedia is popular not only for its rolling greens but also for its restaurant and bar, where club members meet in the evenings, she added.

Who Lives There

With its opulent homes, a high level of security and an emphasis on privacy, Anfa is most popular with business people and politicians, Bouskila said. Over the years, it has served as a meeting point for influential decision makers.

Hassan II Mosque is one of the largest in Africa.
Gamma-Rapho via Getty Images

“The neighbourhood’s history is marked by major international meetings, most notably in 1943 when Franklin Roosevelt, Winston Churchill and the French generals Henri Giraud and Charles de Gaulle outlined the Allied strategy for the post-World War II era,” Leon said.

Notable Residents

Current notable residents include former Minister of Industry, Trade and New Technologies Moulay Hafid Elalamy and his family; President of the General Confederation of Moroccan Enterprises Chakib Laalej; and Steve O’Hana, president of the Morocco-Israel business council, according to Bouskila.

Outlook

Anfa has long commanded high prices thanks to its exclusivity, but in recent years the cost of homes in the historic neighbourhood has soared.

“Since the Covid-19 pandemic, prices have increased—they have never been so high,” Bouskila said. Strong demand for the limited housing stock in Anfa ensures that prices remain elevated in comparison with other areas of the city.

“Luxury products behave the same way around the world,” she said. “Crisis does not impact the price of a Hermès bag or a Ferrari.”



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Unmarried home buyers say they are giving priority to a financial foundation over a legal one

By DALVIN BROWN
Mon, Nov 25, 2024 4 min

The big wedding can wait. Couples are deciding they would rather take the plunge into homeownership.

In reshuffling the traditional order of adult milestones, some couples may decide not to marry at all, while others say they are willing to delay a wedding. Buying a home is as much, if not more of a commitment, they reason. It helps them build financial stability when the housing market is historically unaffordable.

In 2023, about 555,000 unmarried couples said that they had bought their home in the previous year, according to a Wall Street Journal analysis of Census Bureau data. That is up 46% from 10 years earlier, when just under 381,000 couples did the same.

Unmarried couples amounted to more than 11% of all U.S. home sales. The percentage has climbed steadily over the past two decades—a period in which marriage rates have fallen. These couples make up triple the share of the housing market that they did in the mid-1980s, according to the National Association of Realtors.

To make it work, couples must look past the significant risk that the relationship could blow up, or something could happen to one partner. Without a marriage certificate, living situations and finances are more likely to fall into limbo, attorneys say.

Mark White, 59 years old, and Sheila Davidson, 62, bought a lakeside townhouse together in Newport News, Va., in 2021. But only her name is on the deed. He sometimes worries about what would happen to the house if something happened to her. They have told their children that he should inherit the property, but don’t have formal documentation.

“We need to get him on the deed at some point,” Davidson said.

White and Davidson both had previous marriages, and decided they don’t want to do it again. They also believe tying the knot would affect their retirement benefits and tax brackets.

Financial foundation

Couples that forgo or postpone marriage say they are giving priority to a financial foundation over a legal one. The median homeowner had nearly $400,000 in wealth in 2022, compared with roughly $10,000 for renters, according to the Federal Reserve’s Survey of Consumer Finances.

Even couples that get married first are often focused on the house. Many engaged couples ask for down-payment help in lieu of traditional wedding gifts.

“A mortgage feels like a more concrete step toward their future together than a wedding,” said Emily Luk, co-founder of Plenty, a financial website for couples.

Elise Dixon and Nick Blue, both 29, watched last year as the Fed lifted rates, ostensibly pushing up the monthly costs on a mortgage. The couple, together for four years, decided to use $80,000 of their combined savings, including an unexpected inheritance she received from her grandfather, to buy a split-level condo in Washington, D.C.

“Buying a house is actually a bigger commitment than an engagement,” Dixon said.

They did that, too, getting engaged eight months after their April 2023 closing date. They are planning a small ceremony on the Maryland waterfront next year with around 75 guests, which they expect to cost less than they spent on the home’s down payment and closing costs.

The ages at which people buy homes and enter marriages have both been trending upward. The median age of first marriage for men is 30.2, and for women, 28.6, according to the Census Bureau. That is up from 29.3 and 27.0 a decade earlier. The National Association of Realtors reported this year that the median age of first-time buyers was 38, up from 31 in 2014.

Legal protections

Family lawyers—and parents—sometimes suggest protections in case the unmarried couple breaks up. A prenup-like cohabitation agreement spells out who keeps the house, and how to divide the financial obligations. Without the divorce process, a split can be even messier, legal advisers say.

Family law attorneys say more unmarried people are calling for legal advice, but often balk at planning for a potential split, along with the cost of drawing up such agreements, which can range from $1,000 to $3,000, according to attorney-matching service Legal Match.

Dixon, the Washington condo buyer, said she brushed off her mother’s suggestion that she draft an agreement with Blue detailing how much she invested, figuring that their mutual trust and equal contributions made it unnecessary. (They are planning to get a prenup when they wed, she said.)

There are a lot of questions couples don’t often think about, such as whether one owner has the option to buy the other out, and how quickly they need to identify a real-estate agent if they decide to sell, said Ryan Malet, a real-estate lawyer in the D.C. region.

The legal risks often don’t deter young home buyers.

Peyton Kolb, 26, and her fiancé figured that a 150-person wedding would cost $200,000 or more. Instead, they bought a three-bedroom near Tampa with a down payment of less than $50,000.

“We could spend it all on one day, or we could invest in something that would build equity and give us space to grow,” said Kolb, who works in new-home sales.

Owning a place where guests could sleep in an extra bedroom, instead of on the couch in their old rental, “really solidified us starting our lives together,” Kolb said. Their wedding is set for next May.

Homes and weddings have both gotten more expensive, but there are signs that home prices are rising faster. From 2019 to 2023, the median sales price for existing single-family homes rose by 44%, according to the National Association of Realtors. The average cost of a wedding increased 25% over that time, according to annual survey data from The Knot.

Rent versus buy

Roughly three quarters of couples move in together before marriage, and may already be considering the trade-offs between buying and renting. The cost of both has risen sharply over the past few years, but rent rises regularly while buying with a fixed-rate mortgage caps at least some of the costs.

An $800 rent hike prompted Sonali Prabhu and Ryan Willis, both 27, to look at buying. They were already paying $3,200 in monthly rent on their two-bedroom Austin, Texas, apartment, and felt they had outgrown it while working from home.

In October, they closed on a $425,000 three-bed, three-bath house. Their mortgage payment is $200 more than their rent would have been, but they have more space. They split the down payment and she paid about $50,000 for some renovations.

Her dad’s one request was that the house face east for good fortune, she said. Both parents are eagerly awaiting an engagement.

“We’re very solid right now,” said Prabhu, who plans to get married in 2026. “The marriage will come when it comes.”