Tangier Real Estate Prices Dip as Market Sees 16% Drop in Sales

26 May 2023 – bySaid@Bladi · 1 min read

The real estate market in Tangier experienced some variations during the first quarter of this year, with a price index that recorded a decline of 0.7%. This is what Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC) specify.

This decline is mainly due to the decrease in residential property prices of 1.2% and professional-use assets of 0.8%. Land prices, on the other hand, saw an increase of 0.4%.

Residential property prices fell by 1.2%, while prices of professional-use assets saw a slight decline of 0.8%.

As for land, its price increased by 0.4% over the same period.

At the same time, real estate sales recorded a sharp decline of 16.2% over the same period. This overall decline reflects both the 19.5% drop in residential sales and the 7.8% drop in land transactions. On the other hand, sales of professional-use properties increased by 7.7%.

Category: Economy

Keywords:

Real estate Tangier Bank Al-Maghrib National Agency for Land Conservation Cadastre and Cartography