The indicators for real estate in Morocco are between green and red. According to the latest statistics from various Moroccan institutions, the sector is no longer in its period of fat cows.
The situation is half fig, half grape for real estate in Morocco. The cranes and other gear and devices scattered across the kingdom are not operated as usual, it is an undeniable fact. Supposed to provide information on a future plethora of supply, they rather announce a majority of sites that are struggling to restart or outright shutdown.
At the same time, economists from Bank Al-Maghrib and DEPF reporting to MEFRA have just highlighted numbers and letters that demonstrate a certain appreciation. Indeed, the real estate asset price index improved, year on year, by 1.8% in the 1st quarter of 2021, according to the Central Bank and the National Agency for Land Conservation of Cadastre and Cartography. (ANCFCC).
“This increase is explained by an increase of 1.2% for residential assets and 2.9% for land and goods for professional use”, they say in a note on the overall trend of the real estate market in first quarter 2021.
And to reveal a number of transactions which posted an increase of 52%, with increases of 42.4% for residential, 76.1% for land and 73.5% for goods for professional use.
“By asset class, residential prices increased by 1.2%, in conjunction with price increases of 0.9% for apartments, 1.8% for houses and 4.6% for villas ”, specifies the note, indicating in relation to sales that they have increased by 42.4%, with increases of 42.3% for apartments, 38.3% for houses and 59.9% % for villas.
Slowdown in real estate loans
On the land side, land prices have increased by 2.9%, year on year, while transactions have increased by 76.1%, we learn from the same source.
“The breakdown by city shows that prices recorded in quarter on quarter a quasi-stagnation in Rabat and Casablanca, an increase of 3.5% in Marrakech and a decline of 1.2% in Tangier”, underlines the joint note .
For their part, the economists of the DEPF believe that the sector has lead in the wing.
In fact, in its latest conjuncture report, the department reporting to the Ministry of the Economy and Finance reported a slowdown in the rate of growth of bank loans in real estate (+ 2.6% after + 3.2% one year). previously).
In addition, remember that according to a study by the said division on housing policy in Morocco, published in 2019, had revealed that the demand for housing will increase to reach its peak between 2020 and 2025. But it was obviously without counting the deplorable effects of Covid-19 on the real estate sector in general.