2024-08-19 15:38:46
The real estate asset price index (IPAI) fell by 0.4% year-on-year in the second quarter of 2024, Bank Al-Maghrib (BAM) and the National Authority for Land Conservation, Cadastre and Cartography (ANCFCC) said.
In their report on the general trends in the real estate market in the second quarter of 2024, BAM and ANCFCC note that this decline is associated with a 0.6% drop in residential property and land prices, while on the other hand, they note an increase of 0.4% in the prices of goods for professional use.
According to the same source, in terms of the number of transactions, there was an increase of 12.1%, with residential transactions increasing by 11.1% and land transactions increasing by 25.6%. In contrast, sales of goods for professional use fell by 2.3%.
On a month-on-month basis, the real estate asset price index stagnated in the second quarter of 2024, with land prices rising by 0.5%, residential prices remaining stable, and prices of professional-use goods falling by 0.3%.
At the same time, the number of transactions fell by 8.2%, with residential properties down 6.7%, land down 10.2% and professional properties down 15.9%, the report noted.
By asset class, residential prices fell 0.6% year-on-year, with apartment prices falling 0.4%, detached house prices falling 2% and villa prices falling 1%.
On the other hand, transaction volume increased by 11.1%, with apartments increasing by 11.8%, detached houses increasing by 1.1% and villas decreasing by 2.6%.
The price of professional goods rose by 0.4%, of which commercial buildings rose by 0.2% and office goods rose by 0.7%. In terms of transaction volume, the transaction volume fell by 2.3%, of which commercial real estate sales fell by 3% and office sales rose by 1%.
By city, quarterly increases in the IPAI ranged from 0.1% in Oujda to 1.4% in Agadir, with stagnation in Rabat and Fez, a decrease of 0.4% in Meknes and 1% in Tangier.
The IPAI, developed jointly by BAM and ANCFCC, is calculated using the repeat sales method to compensate for property heterogeneity, which only considers properties that have been traded at least twice during the relevant period.
1724105267
#Asset #price #index #rises #quarter #Morocco #Today
