Morocco’s Real Estate Market Tightens: Supply Drops, Demand Rises, Prices Edge Up

The supply of new and old apartments has fallen by 2.3% while demand has increased by 4.7% in the third quarter of 2022. As for prices, they have recorded a slight increase. The prices of old apartments - which represent a significant percentage of Mubawab’s overall inventory - have risen by 2%. Year-on-year, the overall price of old properties has depreciated by 2% with a 1% increase for apartments and a 10% decrease for villas. As for the prices of apartments and villas, they have recorded an increase of 1% and 3% respectively. The most stable prices for apartments are recorded in Casablanca, Marrakech, Dar Bouazza and Agadir with price changes between -2% and +2%.

"In addition to price developments in cities and the analysis of the dynamics of the real estate market on the digital, supply and demand are also interesting indicators that we are looking at to enrich our analysis. Thus, it appears that, since the increase in supply in Q2-2022, the trend has reversed in Q3-2022 with a 4.7% drop. In parallel, and over the same period, demand is following a different trend than supply and is recording an increase of 2.1%," the group said. And to add: "The last indicator to watch is the growth potential in the main cities. This third quarter, the growth potential still exists, i.e. the proportion of demand compared to supply is favorable for new growth opportunities. For example, in the city of Marrakech, demand is almost 3.8 times higher than supply!"