Prices virtually stable in Q2-2023

Prices virtually stable in Q2-2023

The Real Estate Asset Price Index (IPAI) registered almost stagnation in the second quarter of 2023, on an annual basis, Bank Al-Maghrib (BAM) and the National Agency of Land Registry, Land Registry and Cartography (ANFCCC) indicate.

This virtual stagnation reflects increases in the prices of land (0.9%) and goods for professional use (2.1%) and the fall in the prices of residential goods (0.5%), BAM and ANCFCC specify in a note on the general trend of the real estate market in the second quarter of 2023.

In terms of the number of transactions, it represented a decrease of 4.9%, with decreases of 4.7% for residential real estate, 6.9% for land and 3.2% for real estate.

House prices fell by 0.5% by asset class, the result of a 0.4% fall in apartment prices and a 5.7% fall in villa prices and a 0.7% increase over houses . In terms of transactions, their number decreased by 4.7%, representing a decrease of 4.8% for apartments and 5.9% for houses and an increase of 7.9% for villas.

Land prices, for their part, rose by 0.9% and the number of transactions fell by 6.9%. In terms of goods for professional use, their prices increased by 2.1%, with a 2.4% increase for commercial spaces and 0.6% for offices.

Transactions, in turn, were down 3.2%, reflecting a 7.5% decline in commercial property sales and a 21% increase in office sales.

By city, BAM and ANCFCC show that prices increased by 0.7% quarter on quarter in Marrakech and stagnated in Casablanca, while in Rabat and Tangier they recorded decreases of 3.7% and 0.7% respectively.

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