Morocco’s Real Estate Market Faces Uneven Recovery Amid Economic Challenges

La Vie Eco went to meet the players in the sector in several major cities in Morocco, before making this observation. According to the newspaper, it varies between cities, depending on their nature, their economic appeal and their culture.

"The city of Kenitra is currently characterized by a shortage of land, especially in the city center, which has led to a rise in the price per square meter of land, impacting the price per square meter of the finished product," said a developer. Unlike Rabat, he assured that prices are not rising.

In Meknes, the sector is stagnant due to weak demand. Indeed, Moroccans residing abroad (MREs) have acquired fewer real estate assets for the past 3 or 4 years.

However, the city’s developers are betting on companies such as Yazaki, Delphi and Elephant vert, which are investing in the sector through the implementation of several projects for the imminent resumption of activities.

The situation in Meknes is not far from that of Fez. It is the economic gloom marked by the scarcity of housing sales, particularly in the middle range.

The situation seems rather gloomy in the south of the Kingdom but also in Essaouira. "The summer season in Essaouira shows particular dynamism, unlike the rest of the year, thanks in particular to the foreign clientele," explains a source from the newspaper.