Morocco’s Real Estate Market Grinds to Halt Amid Health Crisis

450,000 acts on average per year; this is the figure of the studies carried out by the judicial auxiliaries, counting 2,000 practitioners and 15,000 direct and indirect employees.

These have been in great difficulty since the halt of real estate transactions due to the health crisis and the establishment of confinement, writes L’Économiste. These professionals have not been included in the decree relating to the state of health emergency, setting the list of essential activities. As a result, notary offices are on unemployment without forgetting the studies, and the number of acts is in total decline. State revenues are impacted by this inactivity.

Also, real estate developers are not selling their stocks, hence a multiplication of promotions. But the end of confinement promises better prospects, as the real estate supply will be abundant with a 15 to 20% drop in prices by owners who want to sell their property. It remains to be seen whether the demand will follow.