Bank Al Maghrib's IPAI T3 2023: Confirmation of Declining Transaction Volumes and Prices

The analysis of the decline in real estate prices in major cities of Morocco published a few weeks ago has been confirmed by Bank Al Maghrib in its Real Estate Asset Prices Index (IPAI) for Morocco in the third quarter of 2023. This index reveals significant developments in the real estate sector, with important implications for those interested in buying or selling properties such as apartments, villas, and other real estate assets in key cities like Casablanca, Rabat, Marrakech, and Tangier.

During this quarter, the overall index of real estate asset prices recorded a quarterly increase of 0.7%, with notable increases in the residential (0.8%), land (0.3%), and professional (1.3%) sectors. However, the number of transactions experienced a significant decline of 4.5%, signaling a downturn in the sales of residential and professional properties.

On an annual basis, the index increased by 0.3%, primarily due to the rise in land prices (1.1%) and professional properties (1.7%), while residential property prices saw a slight decline (0.1%). The number of transactions also decreased by 7.2%.

This overall trend is reflected differently in the major cities of Morocco. In Rabat, for example, prices increased significantly (1.9%), mainly due to rising residential property prices, while transactions decreased. In Casablanca, prices slightly decreased (0.4%), with declines in residential and land sectors but an increase in the professional sector. Marrakech saw a price decrease (0.5%) and a notable decrease in transactions. In Tangier, the price index experienced a significant increase (2.5%), with increases in the residential and land sectors.

These data suggest that the Moroccan real estate market is undergoing a transformation with significant regional variations. For those looking to purchase apartments or villas in Casablanca, Rabat, Marrakech, or Tangier, understanding these trends is crucial for making informed choices. The IPAI data is of great importance in guiding buying and selling decisions in the post-COVID context, where notable changes in buyer and seller behavior have been observed.

For more detailed information on Moroccan real estate market trends and guidance on navigating this evolving landscape, visit the Moroccan real estate market guide. This guide provides an in-depth overview and analysis of the market, offering a valuable tool for those considering buying or selling real estate in Morocco.

Agenz - Data 29 Nov 2023

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