Marrakech Real Estate Demand Surges Despite Price Drop, Avito Reports

According to Avito, the recovery in demand in the real estate sector has been effective since June. The site recorded 35,000 monthly contact intentions on rental offers and 20,500 purchase intentions on sale offers. Another finding: the drop in rental and sale prices. These prices have fallen by 9% compared to the pre-Covid-19 period. The average rental price for an 80 m² area on Avito is 3,650 dirhams for rental and 589,900 dirhams for sale. The price varies depending on the neighborhood of the property and its condition.

The price index published by ANCFCC and Bank Al-Maghrib also confirms this trend. This barometer notes a 1.8% decline in sale prices over the entire year and a 10.1% drop in transactions. The drop in prices cannot continue, as owners are now showing some reluctance.

The health crisis related to Covid-19 has disrupted the traditional practices of the real estate market. The time has come for digitalization. For real estate players, the challenge is "to reinvent themselves to offer [...] a digitalization of the