Morocco placed 42nd out of 56 countries in the “Global House Price Index Q1 2024” report, ranking countries that showed the highest increase in house prices, indicating relative stability in the real estate market.
According to the quarterly updated report by Knight Frank, Morocco had experienced a modest increase in house prices with a 0.6% annual growth. This places Morocco among the lower ranks in terms of price increases globally, reflecting a relatively stable real estate market.
Out of 14 countries that were ranked below Morocco, 11 experienced a decrease in house prices, leaving Morocco among only seven countries to experience a growth between zero and one percent.
It’s worth noting that Morocco experienced a 0.9 percent increase in the last 6 months, while only 0.1 percent in the last 3 months.
The country’s market shows stability despite broader economic challenges, maintaining a steady, increase trend in property values. This growth is consistent with the global pattern where many markets are experiencing limited stock and slow delivery, driving prices up incrementally.
Turkey experienced tremendous growth with 52 percent ranking number one, followed by Bulgaria with 16 percent, suggesting inflation. France, Germany, China, and Finland experienced a decrease in house prices suggesting a recession for some markets.
Globally, house prices have increased in the past year across most markets. Many markets are facing shortages in available properties for sale and new construction, resulting in a demand that has driven prices to record levels. according to the report Looking ahead, sustained growth in prices will likely depend on lower debt costs over the long term.
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