Morocco’s Real Estate Market Rebounds as Government Slashes Fees

In a statement to the Médias24 website, Abdellatif Yagou, president of the National Council of the Order of Notaries, explains that since the entry into force of the amended finance law, a significant increase in sales has been observed. According to him, this was predictable since several people had suspended their acquisition projects while waiting for the reduction or cancellation of registration fees.

Hassan Slaoui, a notary in Casablanca, agrees: "These measures have boosted sales, especially those that were supposed to be made before this law but were put on hold, stopped at the reservation or sale agreement stage, waiting for this boost." "If the health crisis persists, it is possible that these measures will be extended. In the meantime, people have become aware that they had to materialize these operations before December 31 and have therefore been active in this direction, especially since in parallel, we also note a drop in prices," notes the notary.

"We have noticed a significant drop in selling prices, even in Anfa supérieur. This is the district where the price per square meter is the highest in Morocco. In some districts of the economic capital where the price per square meter ranged between 19,000 and 20,000 DH, it is now possible to buy at 16,000 or 17,000 DH maximum," he specifies. According to Mr. Yagou, this drop in prices is not general and depends on several factors, particularly geographical, as the situation differs from one city to another, indicates Médias24.

However, the continuation of the current momentum depends on the extension of the measures taken by the government. "We intend to demand that the government extend these measures because as long as the health crisis persists, the national economy will need to be supported," announces the president of the council.