Real estate

Articles

• Casablanca Residents Prompt Closure of Unauthorized African Migrant Churches
  14 April, by Sylvanus

  Following complaints from residents of the Hay Hassani neighborhood (Casablanca) denouncing the transformation by migrants from sub-Saharan African countries of several garages and residential premises into unauthorized churches and temples, some owners have given up renting their properties.
  The anger of the residents of the Hay Hassani neighborhood has been heard by a number of property owners. They have recently begun to empty their premises of equipment and instruments that were used (…)

• Moroccan Real Estate Developers Under Investigation for Undeclared Foreign Currency Payments
  14 April, by Prince

  Real estate developers are accused of not declaring significant sums received from Moroccans Residing Abroad (MRE) for the purchase of apartments in Morocco.
  Developers have required MREs to pay part of the agreed amount in foreign currencies, particularly in euros, and the rest in Moroccan dirhams, reports Hespress. Subsequently, these developers failed to declare these sums to the authorities, which aroused suspicions from the control services of the Exchange Office, who opened in-depth (…)

• Morocco Launches Probe into Building Permit Irregularities in Major Cities
  14 April, by Prince

  Suspecting irregularities concerning the issuance of building permits, the central services of the Ministry of Interior have reportedly sent requests for explanation to presidents of communes in the regions of Casablanca and Rabat.
  Are commune presidents in the hot seat? The competent authorities of the Ministry of Interior have reportedly sent them requests for explanation regarding irregularities in the procedure for issuing occupancy permits, according to sources at Hespress, (…)

• Morocco World Cup Stadium Project Drives Massive Spike in Local Land Prices
  13 February, by Sylvanus

  Land prices have risen considerably in the province of Benslimane in recent months, reaching up to 1,000 dirhams/m². Several factors justify this price surge.
  In addition to Benslimane’s reputation as a city with a pleasant environment and a temperate climate, the establishment of the future Grand Stade Hassan II is at the origin of the surge in land prices in the municipality. This project is generating a massive influx of investors and an upward pressure on prices. The land located (…)

• Morocco Launches Tax Probe into Expat Real Estate Investments Amid Money Laundering Concerns
  12 April, by Prince

  Based on suspicions of money laundering from real estate professionals, the control services of the National Financial Intelligence Authority (ANRF) have launched investigations in the cities of Casablanca and Marrakech concerning certain real estate projects of the "office space" type.
  These investigations focus on investors, including Moroccans residing abroad (MRE), who have no specific training or experience in the real estate or construction sector, and whose ability to mobilize (…)

• Moroccan Real Estate Tycoon Jailed in Massive Fraud Case Affecting 800 Homebuyers
  25 November 2019, by Rédacteur

  The decision of the Public Prosecutor at the Correctional Court of Aïn Sebaâ was unappealable. Given the criminal acts attributed to the Chairman and Chief Executive Officer of the real estate group "Bab Darna", the magistrate took care to transfer the case to an investigating judge to deepen the investigation.
  "Issuing checks without provision"; "fraud on projection of fictitious real estate projects"; "organized fraud"... Under the Moroccan Penal Code, these are the charges against the (…)

• Morocco Grapples with 1.1 Million Vacant Homes Amid Housing Crisis
  11 February, by Sylvanus

  Many vacant homes are recorded in Morocco. The government of Aziz Akhannouch is working to find a solution to this problem.
  "For social, economic, fiscal and regulatory reasons, the number of unoccupied homes has increased significantly in Morocco," explained Mohamed Alaoui, a real estate expert, interviewed by the magazine Finances News Hebdo. According to figures provided by the High Commission for Planning, 1.1 million vacant homes are located in the kingdom, representing 16% of the (…)

• Former Moroccan Royal Estate in France Listed for Record $180 Million
  7 April, by Sylvanus

  Considered the most expensive property for sale in France, the former castle of King Mohammed VI, inherited from his father, the late Hassan II, located in Tournan-en-Brie (Seine-et-Marne), on a 1100 ha property straddling Tournan, Gretz-Armainvilliers and Favières, is looking for a buyer.
  Who will be able to buy the Gretz-Armainvilliers castle? Previously, it had been put up for sale for 425 million euros. For almost a year now, the former property of the King of Morocco has been offered (…)

• Morocco’s Real Estate Market Shows Mixed Trends: Prices Dip in Q4, Sales Up Overall in 2018
  20 February 2019, by Said

  The real estate sector in Morocco experienced a slight drop in prices in the 4th quarter of 2018, according to the latest figures published by Bank Al-Maghrib, which nevertheless show a general stabilization throughout the year.
  Moroccan cities are not on an equal footing, as there was a sharp increase in Rabat (3.7%), a little less in Casablanca (1.3%), 1.8% in Tangier, while in Marrakech, there was a clear decline of 5.5% with a drop in sales of nearly 16%.
  After a 6.8% drop in 2017, (…)

• Morocco’s Real Estate Market Surges: Prices Up 1.1%, Transactions Soar 43.9% in Q4 2024
  13 March, by Said

  The real estate market in Morocco has seen a significant rebound in activity in the fourth quarter of 2024, after a more subdued period. The figures speak for themselves. The real estate asset price index rose by 1.1%, driven by the good performance of all property categories.
  This overall increase hides different dynamics. Residential, the driving force of the sector, shows a 1.3% increase in prices. Land is not left behind with a similar increase (1.4%), while commercial properties (…)