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    Real Estate Prices Increase While Sales Decrease: Bank Al-Maghreb

    28 May 2017

    Real estate asset prices (IPAI) recorded an increase of 2.5 percent in 2017 for residential property, land and stores and offices. The rise of the prices is accompanied by a decline in the sales of real estate assets, according a report published by Bank Al-Maghreb.

    Prices of residential properties recorded an increase of 1.9 percent on a national level, while land prices increased by 2.8 percent and stores and offices by seven percent in 2017.

    The rise in prices resulted in a decline of sales, explained the same source. Transactions decreased by two percent at a national level, with a decease of 1.4 percent for the residential sector, 5.4 percent for land and 1 percent for offices and stores.

    At the level of Casablanca level, prices rose by 2 percent. Of this number, 6 percent is allocated for apartments, 5.8 per cent for houses and 4.3 percent for villas. While land prices decreased by 0.3 percent.

    Real estate sales increased in the economic capital by 9.7 percent, with 4.7 percent allocated for apartment sales.

    In Rabat, real estate prices decreased by 1.7 percent, mainly a decrease of 7.5 percent for land while the prices of apartments increased by 1.1 percent. Sales in the capital fell substantially by 49.7 percent especially in the sales of apartment with a rise of 51 percent.

    In Marrakech, real estate prices have increased by an overall of 2.9 percent. 3.3 percent for apartment, 1.9 for land and 5.8 percent for offices. As for transactions, they decreased by 24.8 percent, out of which 27.5 percent was recorded by apartments sales and 29.9 percent for land.

    In Tangier, prices rose by 4.4 percent, mainly due to higher inflation, as 10.6 percent was accounted for by apartments and 1.6 per cent by land, while prices of offices and stores fell by 1.8 percent
    Transactions in Tangier increased by 6.8 percent for apartments, while land sales fell by 0.4 percent and property by 21.9 percent.

    moroccoworldnews

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