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Real Estate Prices Decrease: Bank Al-Maghreb

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Rabat – The price of both real estate assets and the number of transactions fell respectively by 1.3 percent and 2.4 percent in the last quarter of 2017, according to data from Bank Al-Maghrib and the National Agency of Conservation, Cadastre and Cartography (ANCFCC).

A drop of 1.7 percent in residential property prices was recorded, land prices rose by 1.2 percent, and commercial real estate rose by 3.4 percent, reported Bank Al Maghrib and ANCFCC.

Meanwhile, sales of residential properties have seen a decrease of 8.6 percent, while those for land and professional assets increased by 20.7 percent and 1.2 percent respectively.

In addition, on an annual basis, the price of real estate assets has increased by 0.9 percent, with increases of 1.8 percent for land and 4.4 percent for professional use, while residential properties remained unchanged.

Regarding transactions, a decline of 11.2 percent was recorded, with a 13.2 percent rate for residential, 2.5 percent for land and 16% for business use.

In the last quarter of 2017, the real estate price index (IPAI), recorded a decline in most cities, from 1.1 percent in Fez to 4.1 percent in Tangier.

The cities of Marrakech and Meknes, have experienced a weighty increase in terms of transactions, unlike the cities of Tangier and Agadir which have recorded a significant drop.

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