Morocco’s Real Estate Market Shows Growth: Prices and Transactions Rise in Q1 2023

In a note on the overall trend of the real estate market in the first three months of 2023, BAM and ANCFCC indicate that this development is the result of increases in land prices (2%) and prices of professional-use properties (3.7%) and the stability of residential property prices (0.1%). The number of transactions, for its part, increased by 2.5%, i.e. an increase of 3% for residential properties and 3.5% for professional-use properties and a stagnation for land, the note specifies.

By asset category, residential property prices fell by 0.1%, as a result of a 0.5% drop in villa prices and stagnation in apartment and house prices. Regarding transactions, their number increased by 3%, representing an increase of 2.9% for apartments and 20.6% for villas and a 1% decrease for houses.

As for professional-use properties, their prices increased by 3.7%, including a 7.1% increase for offices and 2.1% for commercial premises. Transactions, for their part, recorded an increase of 3.5%, i.e. a 12% increase in office sales and 1.8% in commercial premises sales. As for land prices, they appreciated by 2% and the number of transactions showed stagnation, the note points out.

By city, prices increased quarter-on-quarter by 5% in Rabat and 0.7% in Marrakech, while they recorded a 0.1% decrease in Casablanca and 0.7% in Tanger compared to the previous quarter.