Morocco’s real estate asset price index (IPAI) dropped by 3.2% over 2021, according to Bank Al-Maghrib (BAM), and the National Agency for Land Registry, Cadastre, and Cartography’s recent note (ANCFCC).
This change covers a 4% decrease in the prices of residential assets, including 1.7% of that of land assets, and 4.3% of the prices of goods for professional use, specified BAM and ANCFCC in their note on the overall real estate market trend during the 4th quarter of 2021.
As for transactions, they increased by 32.8% over 2021, part of an overall rebound from the negative effects of the COVID-19 pandemic back in 2020.
This increase reflects increases of 26.1% for residential, 50.1% for land, and 45.9% for goods for professional use, the note specified.
In 2021’s fourth quarter, the real estate assets index fell by 6%, year-on-year, a drop that includes all categories of goods, with rates of 7.6% for residential, 3 .7% for land, and 5.2% for goods for professional use.
As for the assets per category of real estate, residential asset prices depreciated by 7.6%, attributable to the decline in prices for apartments by 8.8%, houses (-3.2%), and villas (-7.1%). ), said the note, reporting a 16.8% decline in the number of transactions, following the decline in sales of apartments by 17.6% and villas by 32.3%, and an increase in sales of houses of 4.4%.
Additionally, the prices of goods for professional use also fell by 5.2%, year on year, with price drops of 6.3% for commercial premises, and 0.6% for offices.
By city, the quarter-on-quarter price increase in Rabat and Casablanca set at 3.9% and 0.6% respectively, while a price stagnation was noted in Tangier, and a drop of 2.5 % in Marrakech compared to the previous quarter, concluded BAM and ANCFCC’s note.
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