En effect, “the year 2024 saw an increase in demand for residential properties of more than 15%”specifies the press release. The study draws on data collected through the portal throughout the year to provide a detailed overview of purchasing and leasing trends.
Demand for apartments was particularly strong, rising 17%, while villas saw a more modest increase of 10%. The press release adds that “Demand experienced two peaks during 2024, in May and August. These two months constituted almost 20% of the overall annual demand.”
Risk of price pressure
The report also notes a 10% drop in supply compared to the previous year, which “risks creating upward pressure on prices, particularly for apartments”. This trend was particularly notable in Marrakech with a 42% increase in demand, followed by Agadir and Tangier with 28% and 18% respectively.
“More than 50% of demand concerns properties with surface areas of less than 80 m²”adds the press release.
The upward trends in demand observed during the year 2024 are justified by the entry into force of housing assistance which has made it possible to boost both supply and demand largely for properties located in outskirts of large cities and in medium-sized cities like Salé, Fez and Kénitra, underlines the same source, adding that “It is clear that housing assistance constitutes an incentive to purchase not only for Moroccans residing in Morocco but also for MREs”.
On the rental market, “Rental real estate demand on Mubawab.ma increased by 4.7% in 2024”. This trend is even more marked for villas with an increase of 12%, while apartments recorded a more moderate increase of 5%. The cities of Tangier, Agadir, and Marrakech experienced the largest increases.
-The rental price index (RPI) for empty apartments increased slightly during the second quarter of 2024, followed by a continued decline in the second half of the year. For furnished apartments, the IPM fell by 7 points in the second quarter, a trend which continued in the last quarter despite a slight recovery in the third quarter.
Apartments: overview of prices per square meter
The average price per square meter for an apartment is 12,340 dirhams. However, there are significant variations from city to city:
- Rabat is the most expensive city, with an average price of 18,180 dirhams per square meter for an average surface area of 136 m².
- Marrakech has an average price of 14,720 dirhams per square meter for average areas of 102 m².
- Casablanca has a price of 14,310 dirhams per square meter for an average surface area of 122 m².
- In Tangier, the average price reaches 12,840 dirhams for 109 m².
- In Agadir, the average price is 12,010 dirhams for 86 m²
The average budget for acquiring an apartment also varies, with Rabat in the lead at 2,466,830 dirhams, followed by Casablanca at 1,743,470 dirhams and Marrakech at 1,494,480 dirhams.
Villas: overview of prices per square meter
The average price per square meter for a villa is 13,980 dirhams.
- In Casablanca, villas, with an average surface area of 718 m², stand out with a price of 19,410 dirhams per square meter.
- In Agadir, average-sized villas of 356 m² stand out with a price of 15,890 dirhams per square meter.
- In Rabat, villas, with an average surface area of 1,268 m², stand out with a price of 13,990 dirhams per square meter.
- In Tangier, the average price reaches 13,880 dirhams for 642 m².
- In Marrakech, the average price is 12,910 dirhams for 682 m².
