Real estate: how the sales and rental market behaved from January to April 2024

Mubawab reveals the results of thereal estate activity on its platform during the period January-April 2024. It reveals that, regarding purchasing, demand saw its share in searches on the platform increase from 24% to 27%. The supply, for its part, increased from 20% to 30%. THE two bedroom apartments (52% of searches) and three bedrooms (31%) are particularly in demand, with a respective supply of (49%) and (36%). Regarding the surface areas, apartments from 50 m² to 80 m² represent 42% of total demand, followed by those from 80 m² to 100 m² with 21%. Apartments of less than 50 m² and more than 170 m² show more moderate demand.

Moreover, supply and demand for apartments vary considerably from city to city. Thus, the demand for apartments Marrakech increased by 46%, while in other cities like Casablanca, Rabat and Tanger, supply decreased from 13% to 19%. Agadir, for its part, recorded a 20% increase in demand and a slight decrease in supply (-1%).

Average prices per m² vary considerably from one city to another, ranging from 11,760 DH/m² in Agadir to 18,290 DH/m² in Rabat. The average surface areas of apartments range between 86 m² and 140 m². THE Moroccans residing in France represent 53% of foreign demand for apartments in Morocco. They are followed by those in Belgium (8.4%) and The Netherlands (5.7%).

Regarding villas, Mubawab emphasizes foreign demand which is mainly dominated by Moroccans residing in France (50.6% of demand from abroad), followed by those in Belgium (8.1%) and UNITED STATES (6.1%).

Rental: the two bedrooms are on the rise

Rental accounted for a quarter of searches on the Mubawab platform last January, when it represented only 19% of the total available offer. In February, demand decreased slightly to only represent 23% of searches, while supply increased to 23%. Last March, demand remained stable at 23% while supply continued to grow to reach 25%.

In April, at the end, the rental request has increased considerably (29% of searches), compared to a rental offer which accounts for a third of the total offers available on the platform.

Overall, demand is strong for two-bedroom apartments. This type of property accounts for more than half of searches (52%). It is followed by one-room (24%) and three-bedroom (22%) apartments. Regarding surface areas, apartments from 50 m² to 80 m² represent 42% of total demand, followed by those from 80 m² to 110 m² with 28%. Apartments of less than 50 m² and more than 150 m² show lower demand.

Rental prices for bare apartments are soaring

Regarding prices, “theMubawab Price Index for bare and furnished apartments in the first quarter shows an upward trend,” specifies the platform. For bare apartments, the IPM recorded an increase of 6.45% over one year. For furnished apartments, the IPM shows an increase of 4.08%. “These results indicate an increase in rental prices, with more pronounced growth for bare apartments,” explains Mubawab.