Moroccan Real Estate Prices Rise 0.9% in Q3 2019, Transactions Dip

While the Real Estate Asset Price Index (IPAI) increased year-on-year by 0.9% in the third quarter of 2019, transactions decreased by 0.8%, according to Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC), in a note on the overall trend of the real estate market in Q3-2019.

According to the same sources, this price increase reflects increases of 0.4% for residential properties, 1.5% for land and 2.2% for commercial properties.

The declines in sales of 0.8% for residential properties, 0.2% for land and 2.5% for commercial properties are behind the decrease in the number of transactions, the note states.

By city, prices increased quarter-on-quarter in Rabat, Casablanca and Tangier, with respective rates of 0.7%, 0.6% and 0.9%. Conversely, prices fell in Marrakech (-1.1%).