Moroccan real estate market: renewed dynamism after a difficult year

An upturn in the real estate market in 2023, after the slump it experienced a year earlier. It is experiencing a renewed dynamism with a 5.1% increase in sales and a 0.6% increase in prices, after having suffered a sharp drop in sales (-15.4%) and a decline in prices of 0.7% in 2022, according to the real estate asset price index, developed by Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC).

The growth in the number of transactions in 2023 is explained by increases of 6.3% in residential property sales, 5.8% in those of professional-use property, and 0.3% in land sales. The price increase is linked to increases of 1.5% in land prices and 1.8% in those of professional-use property. As for residential property prices, they have practically stagnated.

By city, prices have practically stagnated in Casablanca over the whole of 2023, while sales have grown by 2.9%. In Rabat, prices have risen by 2.7% and transactions have jumped by 12%. In Marrakech, prices have increased by 0.7% and transactions have accelerated by 16.5%. Finally, in Tangier, prices have stagnated and sales have recorded an increase of 4.7%.