Morocco is tightening the screws on fraudsters in the real estate sector. Faced with the significant damage caused to the national economy by undeclared payments, the government has decided to take action, warns Nadia Fettah Alaoui, Minister of Economy and Finance.
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.
The real estate market in Casablanca is showing signs of weakness. A general drop in prices, accompanied by a significant drop in transactions, has been observed in recent months.
The real estate market in the city of Marrakech is showing signs of slowdown. In the third quarter of 2024, prices generally fell by 0.5%, a decline that hides disparities depending on the types of properties.
The overall index of real estate asset prices fell by 0.2% in the third quarter compared to the previous quarter. This is according to joint data from Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC).
Morocco is facing a growing phenomenon: that of "ghost homes". According to estimates, more than 2 million apartments would be unoccupied in the country. A staggering figure, even as access to housing remains a crucial problem for some Moroccans.
In Morocco, the Ministry of the Interior is working to strengthen partnerships with public and private actors in order to increase investment in the collective lands available in the prefectures and provinces of the Rabat-Salé-Kénitra region.
A former employee of the land registry service in Beni Makada, Tangier, was sentenced to one year in prison for forgery of official documents and use of forgeries, at the end of a trial marked by twists and turns and many gray areas.
As the New Year approaches, Marrakech is preparing to welcome a large number of tourists, both Moroccan and foreign. Bookings for apartments and villas, particularly in the peripheral communes of the ochre city, are on the rise.
In France, the former castle of King Mohammed VI, inherited from his father, the late Hassan II, located in the commune of Gretz-Armainvilliers, in Seine-et-Marne, has been put up for sale for 180 million euros.
Involved in a real estate fraud case, the brother of a former president of the Raja club in Casablanca, as well as other people, were given heavy prison sentences.
The Directorate General of Taxes is intensifying its controls in Tangier, targeting tax evasion by large real estate developers. The investigation focuses on significant sums, exceeding 100,000 dirhams per apartment, illegally collected (off the books), particularly in low-cost housing.