Moroccan Real Estate Market Slumps as Prices and Sales Plummet

At the end of March, the real estate asset price index recorded a quarter-on-quarter decrease of 1.8%, covering decreases of 2.1% in residential prices, 2.5% in land prices, and 0.7% in prices for properties for professional use, according to Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC). In a joint report, they specify that the number of transactions shows a decline of 30.3%, reflecting decreases of 29.3% in sales of residential properties, 33.1% in land sales, and 31.4% in sales of properties for professional use.

Year-on-year, the real estate asset price index stagnates in Q1-2025. It records an increase of 0.1% in residential property prices and decreases of 0.1% in land prices and 0.3% in prices for properties for professional use. Regarding the number of transactions, it falls by 15.2%, covering decreases of 14.5% for residential, 16.4% for land, and 18.2% for properties for professional use.

By asset category, residential property prices experience a quarterly decrease of 2.1% (-2% for apartments, -1.6% for houses, and -1.1% for villas). However, they record an annual increase of 0.1% (+0.3% for apartments, -0.1% for houses, and 0.7% for villas). Concerning transactions, they decreased quarter-on-quarter by 29.3% (-29% for apartments, -34.6% for houses, and -31.8% for villas). The annual decrease amounts to 14.5% (-14.5% for apartments, -15.3% for houses, and -8.9% for villas).

As for properties for professional use, their prices globally decreased quarter-on-quarter by 0.7% (-1.4% for commercial premises and -1.5% for offices). Year-on-year, the decline is 0.3% (stagnation for commercial premises and -4.2% for offices), according to the same sources. Transactions recorded a decline of 31.4% quarter-on-quarter, with decreases of 28.9% for commercial premises and 40.5% for offices. Over a year, transactions show a contraction of 18.2%, reflecting decreases of 20% in sales of commercial premises and 9.5% in office sales.

By city, prices almost stagnated in Rabat with decreases of 1.1% in residential property prices and 0.6% in prices for assets for professional use, and an increase of 9.4% in land prices. In Casablanca, prices show a decline of 1.8%, reflecting decreases of 1.9% for residential properties, 3.5% for land, and 0.1% for properties for professional use. In Marrakech, prices contract by 2.3%, in connection with price decreases of 3.3% for residential properties and 4.6% for land. Prices for properties for professional use, however, show an increase of 1.7%. In Tangier, the price index records a decrease of 2%, in connection with decreases of 0.8% in residential prices, 4.4% in land prices, and 1.4% for properties for professional use.