Rabat Real Estate Market Sees Price Dips and Sharp Drop in Sales

30 December 2024 – bySaid@Bladi · 1 min read

The city of Rabat is going through a period of decline in the real estate sector. A slight drop in prices, estimated at -0.6%, hides disparities depending on the types of properties, was noted in the 3rd quarter of this year. While land shows unexpected resistance with a modest increase of 0.8%, other segments show more marked erosion.

Residential properties, mainly composed of apartments and houses, recorded a 0.8% drop in prices. This trend, although moderate, contrasts with that of professional properties, where prices have plummeted by 7.5%.

At the same time, transactions have suffered a significant decline. The overall sales volume fell by 25.1%, a drop that affects both residential properties (-25%) and land (-25.7%). Professional assets, already impacted by declining prices, are not spared this trend with an estimated 26.5% drop in sales.

According to data from Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC), no segment seems to be spared by this downward trend, although it is still too early to assess the extent of the long-term repercussions. Despite the slight increase in land prices, the widespread decline in transactions could foreshadow additional challenges in the coming months.

Category: Economy

Keywords:

Real estate Rabat Bank Al-Maghrib