Morocco’s Real Estate Sector Struggles to Rebound Amid COVID-19 Challenges

Over the past few months, the Moroccan real estate sector has been weighed down by several factors: suspended construction sites, technical unemployment workforce, and non-existent demand... Faced with the downward spiral, uncertainty has finally reached the professionals in the sector.

The situation calls for deep reflection with a view to a complete overhaul of the sector, which contributes 14% to GDP and generates 1 million jobs. A sector that, in view of the many difficulties encountered, requires a real recovery plan.

To safeguard the foundations of the sector, which essentially depends on unskilled labor, the reflections have gone in the direction of identifying the main levers to be activated and the mechanisms to be implemented in the short term, in a participatory approach that integrates the grievances of professionals and the expectations of consumers.

In this period of health crisis coupled with an economic crisis, many potential buyers are hesitant to engage in a real estate acquisition process, fearing being unable to settle a loan taken out for this purpose.

This is why it is recommended, as part of the recovery, to encourage investment in real estate and the marketing of the produced goods. To this end, a match between supply and demand is necessary.

Nevertheless, the professionals are not discouraged. They consider the health crisis as a new opportunity to change course and embark on a new era with a new vision, on a coherent basis.