2023-05-23 12:45:35
For Mr. Jazouli, it is necessary to deepen Morocco-Spain cooperation by recognizing the potential for alignment of value chains and by capitalizing on the synergies existing between the two countries.
Real estate assets: According to BAM and ANCFCC indicators, the increase in real estate transactions reflects an increase of 3% for residential properties and 3.5% for professional properties, as well as stagnation for land.
Real estate sales recovered in the first quarter of the year. At the end of March 2023, transactions showed an increase of 2.5%. This increase covers increases in sales of all real estate assets. This is what can be seen from the recent publication relating to the price index of real estate assets drawn up by Bank Al-Maghrib and the National Agency for Land Registry, Cadastre and Cartography (ANCFCC). In detail, residential sales strengthened by 3% compared to the first quarter of the previous year. This dynamic reflects an increase of 2.9% for apartments and 20.6% for villas at a time when house sales fell by 1%.
With regard to land, Bank Al-Maghrib and the ANCFCC note at this level a stagnation year-on-year. Professional real estate, meanwhile, is doing well, posting an increase in transactions in the first quarter. Sales of this asset class consolidated by 3.5%. This growth is in fact driven by the 12% increase in the sale of offices and, to a lesser extent, by that of sales of commercial premises (+1.8%). It should be noted that the increase in sales was accompanied by a slight increase in prices. Referring to BAM and ANCFCC, the real estate asset price index rose by 0.8% in the first three months of the year. By real estate asset, we note a stagnation in the price of residential property (-0.1%). It is the result of the 0.5% drop in villa prices, while apartment and house prices remained stable. At the same time, land prices improved in the first quarter of the year.
There is an increase of 2% compared to the same period of the previous year. As for assets for professional use, their prices increased by 3.7% year-on-year. Growth driven by a 7.1% rise in office prices and 2.1% in commercial premises. If we focus on the quarterly trend, it emerges that the real estate asset price index rose by 0.3% from one quarter to the next, covering increases of 0.9% in land prices and of 1.1% in goods for professional use as well as a fall of 0.2% in residential prices. On the other hand, the number of transactions marked a contraction of 14.8% compared to the previous quarter. This decline reflects the 17.3% drop in sales of residential property, 10.6% in land sales and 3.7% in professional property sales. In addition, the trend of the real estate market by city shows a 5% increase in prices in Rabat quarter-on-quarter. This increase is explained by the 4.3% increase in residential property prices and 23.1% in land prices. At the same time, the prices of assets for professional use contracted by 6.6% in Rabat.
As for transactions, real estate sales posted a quarterly drop of 1.4% in the capital, covering a drop in sales of 1.9% for real estate and 17.4% for land sales at a time when assets to be professional use recovered by 24.3% compared to the previous quarter. With regard to Casablanca, the prices of real estate assets fell by 0.1% from one quarter to another, following the 4.9% drop in land prices and the 0.3% increase in residential prices.
Similarly, the price of professional real estate rose by 0.1% at metropolitan level. Regarding sales, BAM and ANCFCC observed a decline of 17.4% in Casablanca reflecting the decline in transactions of residential property (17.9%), land (3.3%) and assets for professional use. (20.8%). In Marrakech, the prices of real estate assets rose by 0.7%.
In this sense, we note a 3.3% increase in land prices and 0.3% in those of assets for professional use at a time when residential prices fell by 2.2%. Transactions at the level of the ocher city fell by 13.6% reflecting an 18.7% drop in sales of residential property and 9.6% in land sales at a time when sales of goods for professional use fell. showed an increase of 24.9%. In Tangier, the price index contracted by 0.7% following the 1.2% drop in residential prices and 0.8% in those of assets for professional use, while the prices of land rose 0.4% in the first quarter.
Similarly, real estate sales contracted 16.2% at the Straits city level. This decline is due to the 19.5% drop in residential sales and 7.8% in land sales. Transactions relating to goods for professional use, for their part, improved by 7.7% from one quarter to the next.
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