If you are about to buy a property in Morocco, this hardly seems the right time, particularly in Casablanca, as already rising house prices are likely to continue to rise.
Is it the right time to buy property or should you wait? Muwabab tried to answer this question in a barometer in which he decodes the national real estate market in the first quarter of 2022. The real estate specialist in Morocco has just published a report with trends that deserve our attention.
Lesson One: Prices Rise in Q1 2022. If the decline in prices for both old and new properties observed quarter-on-quarter in the latest edition of the Mubawab Guide to Real Estate has raised hopes among many buyers, this was corrected in early 2022. 10,300 DH: This is the average price per m2 of housing in Morocco, indicates the platform, indicating that the observations that go back to this guide correspond to housing intended for exclusive use and for sale , between January and March this year were advertised on the portal.
Goods for commercial use, real estate, farms, riads and rental properties are excluded. Overall, prices increased slightly during the investigation period.
In detail, the prices for old villas have increased by 1%. As for the old apartments, they grew by 8%. The overall price of older homes is up 2% year-on-year (+3% for apartments and -1% for villas), according to the benchmark real estate company trying to revolutionize commerce.
The price of new equipment, Mubawab continues, follows the same trends as old equipment. It thus appreciated by 6% in the first quarter of 2022 (-5% for villas and +8% for apartments). Year-on-year, new home prices increased by an average of 10% (-1% for villas and +10% for apartments). According to the same source, the first quarter ended with the Mubawab price index rising by 1.57% compared to February.
Mubawab also points out that current prices are at the same level as in June 2019, with a 4.41% increase in value compared to the same period last year, ie a gain of 4 points from l ‘IPM, indicating that Agadir , Rabat, Dar Bouazza and Fès are the cities with the most stable prices for apartments, with minimal fluctuations between -1 and +1%. For villas, it is Casablanca, Temara and Rabat that have shown some stability in this first quarter. with changes between – 4 and + 4%. Regarding the forecast price development, the player underlines that those of Casablanca and Rabat are expected to develop differently in June.
In Casablanca, house prices are expected to increase slightly. Conversely, Rabat is expected to fall by 0.84%. Ditto for Agadir, which should follow the same pattern as the capital. House prices are expected to fall by 2.43% in June.
In this regard, it should be noted that the average prices are calculated by geographical area (city or district), overall and for each of the selected market segments for villas and apartments, new and old, based on the sales of advertisements published on Mubawab.ma.
The relatively strong price changes can be explained by the entry of a new player in the area concerned, the start of the marketing of a project or the end of the marketing of a project and this over the course of the study period.
Khadim Mbaye / ECO Inspirations
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