Marrakech Real Estate: Prices Rise as Sales Plummet in Q1 2023

According to data from Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC), real estate prices recorded an overall increase of 0.7%. This increase covers a 3.3% growth in land prices and a 0.3% increase in assets for professional use. Residential property prices, on the other hand, fell by 2.2%.

At the same time, real estate transactions recorded a significant decline of 13.6% during this period. This overall decrease reflects both the decline in residential property sales, which fell by 18.7%, and the decline in land transactions, which decreased by 9.6%. In contrast, sales of professional-use properties experienced a strong increase of 24.9%.