Morocco’s “Real Estate Asset Price Index” rose 1.1% in the third quarter of this year, according to new data jointly released by Bank Al-Maghrib and the National Agency for Land Conservation, Cadastre and Cartography. The increase reflects a 1.5% rise in residential property prices, a 1.2% increase in land prices and a 0.3% rise in commercial real estate.
After transactions dropped 10.8% in the second quarter, the report found that real estate activity rebounded, with overall transactions increasing 14% quarter-on-quarter. Sales rose 15.7% for residential properties, 9.3% for land and 1% for commercial properties.
The data show that residential property prices climbed 1.5% from the previous quarter. Apartment prices rose 1.5% and house prices increased 1%, while villa prices declined 0.8%.
At the same time, transactions in the residential segment grew 15.7%, driven by increases of 15.7% in apartment sales, 19.3% in house sales and 9.7% in villa sales.
Urban land prices rose 1.3% on a quarterly basis, while land sales increased 9.3%.
Commercial property prices also edged up 0.3%, supported by a 0.7% increase in retail space prices. Office prices fell 0.8%. The number of commercial transactions increased 12%, including a gain of 11.9% in retail property sales and 12.3% in office sales.
The updated figures highlight continued differences in real estate trends across major Moroccan cities — Rabat, Casablanca, Marrakech and Tangier — which form the core of the national analysis.
In Rabat, prices posted the strongest quarterly increase among the four cities, rising 3.2%. Residential prices increased 3.4% and commercial property prices 3.2%, while land prices fell 1.4%. Transactions in the capital grew 27.4%, including gains of 26.1% for residential properties, 24.2% for land and 48.8% for commercial real estate.
In Casablanca, property prices increased 1.2% compared with the previous quarter, driven by a 1.3% rise in residential prices and a 1.7% increase in land prices. Commercial property prices were unchanged. Transactions in the city rose 23.7%, supported by a 26.7% increase in residential sales and a 17.9% rise in commercial sales. Land sales fell 8.5%.
Marrakech recorded a more modest increase of 1% in overall prices. Residential prices rose 1.4%, land prices increased 1.9% and commercial prices were nearly stable, rising 0.1%. Transactions dipped 0.5%, mainly due to a 27.8% drop in commercial sales. Residential sales increased 0.6% and land transactions rose 7.9%.
In Tangier, the index rose 1.8%, driven by a 0.8% increase in residential prices and a 4.3% rise in land prices. Commercial prices, however, fell 5.2%. Transactions in the northern city climbed 19.4%, including increases of 23.3% in residential sales and 7.2% in land sales. Commercial transactions declined 4.2%.
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