Marrakech Real Estate Prices Dip, Transactions Plummet Amid COVID-19 Crisis
A real indicator for investors and industry players in decision-making, the Real Estate Asset Price Index (IPAI) was published a few days ago by Bank Al-Maghrib. For this second quarter of 2020, what should be remembered about the trend in Marrakech, heavily affected by the Covid-19 epidemic.
In the ochre city, according to the IPAI figures, apartment prices recorded a slight decline of -1.8% while transactions fell sharply by -26.7%.
According to Bank Al-Maghrib and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC), commercial property prices have slightly declined by -2.5% while transactions on this side have seen a considerable drop of -53.8%.
As for urban land prices, a decline of -4.7% was noted, while transactions in this segment fell by -68.6%. At the level of houses, prices fell by -12.6%, while transactions at this level experienced a dizzying drop of -73.5%.
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