Morocco Real Estate Prices Dip Slightly as Supply and Demand Rise in Q2

Since the drop in supply in the first quarter of 2022, "the trend is regaining color in the second quarter with an increase of 13.9%," the site analyzes, adding that "demand is following the same trend as supply and is recording an increase of 10.4%." The proportion of demand compared to that of supply will foster new growth opportunities. "In the city of Casablanca, demand is almost 9 times higher than supply!" it is assured.

Thus, the average price per square meter of apartments in Morocco was set at 10,200 dirhams in the second quarter. The supply and demand for new and old apartments also recorded an increase of 14% and 13% respectively over the same period of the year. In the analysis, Mubawab notes that villa prices have fallen by 10%. The same trend is observed in the prices of old apartments, which contracted by 10% quarter-on-quarter.

"The overall price of the old has depreciated by 4% with a 1% drop for apartments and a 10% drop for villas," explains Mubawab, stressing that the overall price of new properties fell by 4% in the second quarter due to an 8% drop in apartment prices and a 10% increase in villa prices. On an annual basis, however, the overall price of new properties recorded an average increase of 10%. By the end of September, these prices could see a decline of 3.06% and 4.22% in Casablanca and Marrakech, it warns.

However, prices should record a slight variation in the city of Agadir where an increase of 0.07% is expected. But they should drop slightly by 0.01% in Rabat next quarter, it is specified.