Morocco’s Real Estate Market Faces Continued Price Decline, Central Bank Reports

In the second quarter of the current year, the value of real estate assets did not experience a significant decline. Quoted by Aujourd’hui le Maroc, Bank Al-Maghrib reported this in its latest index.

Indeed, according to the central bank, this slight decline, (estimated at 0.6%, compared to 0.9% for last year) is justified by the drop in prices of all assets. However, despite the reduction in real estate transactions (7.3% against 8% for last year), sales have not peaked.

On the contrary, "sales of residential properties are down 4.4%, reflecting declines of 4.1% for apartments, 5.4% for houses and 11% for villas," notes the same source. The same observation is made regarding land, with land transactions falling by 20.1%, while sales of commercial assets, for their part, contracted by 10.5% when considering the same period of the previous year.

Furthermore, Rabat is experiencing a 1% drop in residential prices and a 13.7% drop in prices of professional properties, Bank Al-Maghrib points out in its latest index, regarding the quarterly evolution of the real estate market by city.