Morocco’s Real Estate Market Slumps: Sales Drop 3.8% in 2019

According to the indicators jointly established by Bank Al-Maghrib and the National Agency for Land Conservation, Cadastre and Cartography (ANFCC), the price of real estate assets has remained almost stagnant compared to the previous year. According to BAM, the sharp contraction in real estate sales is justified by a generalized decline across all property categories.

Land is more impacted by this downward trend with a 10.2% drop in sales, the same source indicates. As for transactions relating to commercial properties, they fell by 4.7%, while those of residential properties fell by 1.9% during the same period.

Furthermore, the evolution of the real estate market by city shows a decline in both prices and real estate transactions in the city of Rabat. Regarding assets in this city, they fell by 1.5%, after a 3.5% increase a year earlier.

In Rabat, sales fell by 13.4% in 2019, compared to a slight 0.4% decline in Casablanca. The prices of commercial properties rose by 1.3% in the metropolis, while transactions remained stagnant.