Analysis of the second-hand real estate market in Casablanca by income bracket

Context

Casablanca, the economic and cultural epicenter of Morocco, faces a significant challenge in terms of housing for families, especially those with one or two children, who make up the majority of urban households. This study focuses on their ability to purchase a two-bedroom apartment in the city.

Hypothesis

• The analysis calculates the prices per square meter for second-hand housing in Casablanca, excluding new real estate.
• It is based on three income brackets: 8,200 DH/month, which corresponds to the urban median income in Morocco, as well as 15,000 DH/month and 30,000 DH/month for higher incomes.
• It assumes an initial contribution equivalent to six months of income, for example, a household earning 15,000 DH would have saved 90,000 DH to buy an apartment.
• We take into account a debt ratio of 4.8% over 20 years.
• The choice of a 95 m² apartment for two bedrooms and a living room corresponds to the needs of an average family with children and to the lower average of offers on agenz.ma, the reference real estate platform in Morocco.

Analysis by Income Bracket

1 - Urban median income in Morocco of 8,200 DH :

For families earning this income, purchasing a comfortable two-bedroom apartment in Casablanca is extremely difficult, if not impossible. Even in neighborhoods of the capital considered affordable, such as Bachkou, Derb Ghalef, or Mers Sultan, the maximum available surface area is about 50 m², insufficient for a family. For areas close to 90 m², these households must turn to the eastern outskirts of Casablanca, such as Sidi Moumen, Ben M’sick, or Anassi, where social housing complexes predominate.

2 - Household income of 15,000 DH :

This income bracket opens up slightly broader prospects. Although it is almost impossible to find a two-bedroom home in central neighborhoods such as Racine, Maarif, Beauséjour, or Palmier — where the purchasing power is limited to about 65 m² — these households can consider a two-bedroom of 100 m² in Roches Noires, 110 m² in Californie, or 115 m² in Oulfa.

3 - Income of 30,000 DH :

Households with this income have access to a wider range of options, often beyond 95 m², in neighborhoods such as Ain Diab Extension, Les Princesses, and Oasis. Areas such as Bourgogne Est, Palmier, and Val Fleury also offer comfortable apartments, equaling or surpassing the ideal size for a family.artículo redactado en Challenge.

Context

Casablanca, the economic and cultural epicenter of Morocco, faces a significant challenge in terms of housing for families, especially those with one or two children, who make up the majority of urban households. This study focuses on their ability to purchase a two-bedroom apartment in the city. For a deeper understanding of housing prices relative to different salaries in Casablanca, consult this article written on Challenge

Agenz - Data11 Dec 2023

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