Moroccan Notaries Propose Reforms to Boost Real Estate Market Recovery

The president of the CNONM, Abdellatif Yagou, in an interview reported by Aujourd’hui Le Maroc, discussed the aspects of this law that governs the various areas of real estate.

After several meetings held with real estate partners, the corporation has shared its recommendations, the president points out. There is the lowering of bank interest rates, the increase in financing ceilings in favor of buyers, the postponement of credit maturities without interest for buyers and the real estate development sector. There is also the question of postponing price and sales value revisions at the level of the land registry and the DGI reference.

The 50% reduction in registration taxes in favor of the buyer to relaunch the activity, or the acceleration of dematerialization, are also included.

Moreover, the president believes that all these points registered for the real estate recovery can only be achieved with the combined efforts of all the partners in this sector; as well as the participation of the government. To this end, the CNONM must, according to him, receive approval to complete the list with regard to the acts taken care of by the "Tawfik" platform. The notaries also wish to have the visa of the tax inspectors on the consignment register electronically. Finally, the CNONM proposes consultation with professionals and the supervisory ministry to harmonize points of disagreement.