Morocco’s Real Estate Market Slumps: Transactions Down 12%, Prices Dip

The figures published by Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC) report a 12% decrease in real estate transactions. This decline is distributed between residential properties (-10.3%), land (-15.7%) and professional properties (-16.9%).

The real estate asset price index (IPAI) also recorded a slight contraction of 0.3%. Specifically, residential prices fell by 0.5%, those of professional properties by 0.4%, while land prices saw an appreciation of 0.3%. On an annual comparison, the IPAI shows near-stagnation, with an increase in land and professional property prices but a decline for residential.

Residences showed a 0.5% drop in prices, with a decrease for villas (-5.7%) and a slight increase for houses (+0.7%). Transactions have also fallen by 4.7%. On the land side, a 0.9% price increase was recorded, but the number of transactions fell by 6.9%. Finally, for professional properties, an increase of 2.1% is noted, dominated by a rise in commercial premises.

The real estate dynamics vary by city. In Marrakech, prices are rising slightly by 0.7%, while in Casablanca they are stagnant. Rabat, on the other hand, recorded the largest drop with a 3.7% decline. In Tangier, the price index fell by 0.7%. These variations are accompanied by fluctuations in transactions: for example, Casablanca is experiencing a 13.1% decline in sales.