Casablanca Real Estate Prices Dip, Transactions Plummet Amid Coronavirus Crisis

The real estate asset price index (IPAI) developed by Bank Al-Maghrib, in collaboration with the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC), provides more clarification.

In the economic capital, the real estate asset price index (IPAI) for the first quarter of 2020 shows a slight decrease of -0.5% in apartment prices, while transactions fell by -31.9%.

There is also a decrease of -3.3% in urban land prices, while transactions recorded a drop of -20.1%. Regarding the prices of commercial premises, a decrease of -5.3% is observed, as well as at the level of transactions which indicate -17.3%.

For the office segment, a price increase of around 21.4% is noted, while transactions recorded a plunge of -42.4%. On the house side, a price increase of 8.1% was observed, while transactions collapsed by -47.6%.