Morocco’s Real Estate Market Struggles to Rebound Despite Stimulus Efforts

Real estate remains, by far, the Moroccans’ favorite sector for investment. Unfortunately, the restrictions related to the coronavirus have almost brought the market to a standstill. This stagnation seems to be persisting despite several stimulus programs, reports Le Matin, which looked into the ills plaguing the sector and its expectations.

Questioned, the vice-president of the National Federation of Real Estate Developers (FNPI), Mustapha Allali, indicated that "in 2021, there was no real recovery. We noted a slight recovery at the beginning of the year following the 50% reduction in registration fees, the market then calmed down again."

According to the official, the sector could only start a recovery if the authorities reduce costs, particularly in land conservation and interest rates. "To get things moving, there also need to be political efforts to review the regulations," he stressed.

Thus, to boost the sector and create demand, Allali recommended the implementation of incentive measures for buyers. "Fees absolutely need to be reduced or there needs to be a deduction on land conservation fees and registration fees. Banks also need to play the game by reviewing interest rates. Aids and incentives need to be granted directly to buyers," he insisted.