Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC) produced a note on the overall trend of the real estate market during the 2nd quarter of 2022. It appears that the he real estate asset price index (IPAI) appreciated in the second quarter of 2022 by 0.4%, year-on-year.
This development, underlines the note, is the result of the 1.8% increase in land and the decreases of 0.2% in residential and 0.4% in goods for professional use.
At the same time, the number of transactions fell by 22.5%, in connection with the decline of 20.4% in sales of residential property and 37.7% of land. On the other hand, sales of goods for professional use increased by 7.2%.
By asset category, residential prices depreciated by 0.2%, in line with the 0.5% drop in apartment prices. Conversely, the prices of houses and villas increased by 0.5% and 1.2% respectively.
As for transactions, their number fell by 20.4%, reflecting drops of 21% for apartments, 10.5% for houses and 15.8% for villas.
With regard to land, prices rose by 1.8%, and the number of transactions fell by 37.7%, noted the said note.
For their part, the prices of goods for professional use fell by 0.4%, with a fall in prices of 0.7% for commercial premises and a rise of 1.9% for offices. Transactions recorded an increase of 7.2%, the result of increases of 6.2% in sales of commercial premises and 12.5% of those of offices.
Quarter-on-quarter, the IPAI was up 0.2% in Q2-2022, in line with the 0.3% increase in residential prices, 0.1% in land prices and 1.1 % of those for goods for professional use.
As for the number of transactions, it increased by 4.6%, covering an increase of 8.1% for residential properties and decreases of 3.7% for land and 1.9% for residential properties. professional use.
By city, prices rose in Casablanca by 0.6% in Q2-2022 and in Rabat and Tangier by 0.8% each, while in Marrakech they recorded a drop of 0.3%.