Morocco’s Real Estate Market Surges: Prices Up 1.1%, Transactions Soar 43.9% in Q4 2024

This overall increase hides different dynamics. Residential, the driving force of the sector, shows a 1.3% increase in prices. Land is not left behind with a similar increase (1.4%), while commercial properties confirm their recovery with a 1.7% increase.

The increase in prices is accompanied, and this is rather a good sign, by a surge in the number of transactions. We are talking about a spectacular increase of 43.9% compared to the previous quarter. The market, once hesitant, seems to have regained its dynamism. Buyers, long reluctant, have decided to take the plunge.

In detail, residential sales have soared by 42.7%. Land is also in high demand (+35.2%), but it is especially the commercial segment that creates the surprise with a dizzying 79.9% increase in transactions.

Compared to the previous year, the upward trend is confirmed. The real estate asset price index rose by 0.8% in the fourth quarter of 2024. Residential properties (+1.1%) and land (+1%) stand out. Commercial properties, on the other hand, experienced a slight increase of 0.1%.

The number of transactions, a key indicator of the vitality of the market, shows an annual growth of 17.7%. A double-digit increase that reflects a real enthusiasm. Residential (+18.9%) and land (+16.5%) are well positioned, but the commercial sector is not forgotten with a 10.8% increase in sales.

Looking at the year 2024 as a whole, the real estate market shows a certain stability. We are far from the roller coaster, but rather on a regular pace. The price index is stagnant, with a slight increase for land (+0.1%) and a minimal decrease for commercial properties (-0.1%).

But it is especially on the transaction side that the year 2024 stands out. The number of sales increased by 5%, driven by the dynamism of the residential (+5.2%) and land (+5.8%) sectors. The commercial sector, although less performing, also contributes to this growth (+1.9%).

Apartments are experiencing significant success. Prices are up 1.3% in the fourth quarter, and 1.1% over the entire year. But the enthusiasm is measured above all by the number of transactions: +43.6% from one quarter to the next, and +19.5% on an annual basis.

Individual houses follow the same trend, with prices up 0.7% in the fourth quarter and 1.3% year-on-year. The number of transactions, although increasing, is less spectacular than for apartments (+24.2% and +6.8% respectively). Villas, finally, experienced a 1.5% price increase in Q4, but a price stagnation compared to 2023.

The evolution of land is similar to the other property categories with increases, less strong, but increases nonetheless, whether in terms of price (+1.4% in Q4 and 1% over the entire year) or in the number of transactions (+35.2% over a quarter and 16.5% year-on-year).

Commercial properties show increases at several levels: prices increased by 1.7% in the last quarter and 0.1% compared to 2023. Attractiveness is strongest in this segment, with a 79.9% increase in transactions.