The real estate asset price index (IPAI) fell, year-on-year, by 0.4% in the 3rd quarter of 2024, indicate Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and cartography (ANCFCC).
This decline is linked to the falls of 0.5% in the prices of residential property, 0.6% in those of land and 0.9% in those of goods for professional use, explain BAM and ANCFCC in a note on the overall trend of the real estate market in Q3-2024.
Likewise, the number of transactions showed a decline of 13.1%, covering decreases of 14.8% for residential and 29.2% for goods for professional use. On the other hand, land sales recorded an increase of 3.4%.
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By city, prices decreased by 0.6% in Rabat, by 1% in Casablanca and by 0.5% in Marrakech, while Tangier recorded an increase in the price index of 0.1%.
As for sales, they fell by 25.1% in Rabat, by 30.1% in Casablanca, by 53.5% in Marrakech and by 9.6% in Tangier.
Compared to Q2-2024, the IPAI showed a decrease of 0.2% during the 3rd quarter of this year, covering decreases of 0.4% in land prices and 0.7% in those of used goods. professional and stagnation in residential prices.
At the same time, the number of transactions fell by 28.9%, with drops of 30.4% for residential properties, 15.9% for land and 41.1% for properties for professional use.
With MAP
Morocco
