Moroccan Expats Poised to Boost Real Estate Market in Q3 2023

According to Amine Mernissi, author of the "Répons’IMMO" guide, "the figures of the real estate asset price index (IPAI) for the second quarter do not reflect the contribution of MREs in the real estate sector. In order to pronounce on the prospects for evolution, we must wait for the publication of the figures for Q3-2023 which will take into account the share of MREs".

In an interview with MAP, the expert explains that "the year 2023 has seen announcement effects that will only bear fruit from 2024, in particular the direct aid program initiated by the government for first-time buyers", adding that the real estate market should remain stable until the end of the year, given that the expected direct aid will only be available in 2024.

For Amine Mernissi, the IPAI shows a downward trend in terms of transactions while a variability is noted with regard to prices. By city, Rabat and Marrakech present positive figures in terms of transactions in the second quarter, unlike Casablanca and Tangier where the trend is not flattering, he details.

"We can deduce that the demand is present in Rabat and Marrakech, the latter is reflected through the figures. For Marrakech, there is a catch-up effect following the successive declines recorded over several quarters," he adds, stressing that Rabat attracts more real estate investors than other cities.