Morocco’s Real Estate Prices Rise 0.7% in Q3 2023, Residential Sector Leads Growth

The upward trend was observed in the different asset categories during the period. Thus, there is an increase of 0.8% for the residential sector, including 0.7% for apartments, 1.2% for houses and 2.9% for villas. However, transactions in this sector fell by 4.7%. As for land, the increase in assets is 0.3% and the number of transactions increased by 2.8%.

Regarding professional-use properties, a notable increase of 1.3% was recorded in prices, including 0.8% for commercial premises and 3.5% for offices. Despite this upward trend, the number of transactions fell by 14.7%.

Year-on-year, the real estate asset price index recorded an increase of 0.3%. In detail, land prices increased by 1.1% and by 1.7% for professional-use properties. Residential property prices, on the other hand, recorded a slight decrease of 0.1%. In terms of transactions, there is an overall decline of 7.2%, including 5.6% for residential properties, 10.6% for land and 13.2% for professional-use properties.

By city, the trends are varied. While Rabat is experiencing a 1.9% increase in prices (+2.9% for residential properties, -3.3% for land and -3.6% for professional-use properties), Casablanca recorded a 0.4% drop in prices (-0.5% for residential, -0.1% for land, and +2.9% for professional-use properties). Similarly, Marrakech recorded a 0.5% drop in prices, while Tangier saw a 2.5% increase.