Morocco’s Real Estate Slump: Transactions Plummet 21% as Major Cities Face Diverging Fortunes

The Moroccan real estate market was marked by stagnant prices and a sharp drop in the volume of transactions in the second quarter of 2025. According to the official index published by Bank Al-Maghrib (BAM) and the National Agency for Land Conservation (ANCFCC), real estate asset prices remained stable year-on-year, while the number of sales fell by 21.2%.

This national trend masks contrasting developments. Year-on-year, residential property prices have slightly increased by 0.1%, while those of land and commercial properties have fallen by 0.3%. The drop in transactions was particularly pronounced for the residential segment (-25.9%). Compared to the previous quarter, the overall price index shows a slight decline of 0.2%, and transactions a decrease of 10.8%.

At the level of major cities, the situations are heterogeneous. Rabat and Marrakech stand out with a positive dynamic. In the capital, prices have increased by 1.4% in one year, driven by a 2.4% rise in the residential sector. Sales there have also increased by 4.3%. In Marrakech, prices have grown by 0.2% and transactions by 2.7%, driven by the dynamism of land sales (+13.4%).

Conversely, the markets in Casablanca and Tangier are showing a clear decline. The economic metropolis has seen its prices fall by 0.5% and the volume of its sales drop by 13.9%, with declines affecting all categories of properties. The trend is even more pronounced in Tangier, where prices have also fallen by 0.5%, but where transactions have collapsed by 19%, with a particularly sharp drop in land sales (-22.5%).