2023-06-02 19:02:06
Finances News Hebdo: How is the situation in the real estate sector?
Driss Effina : The various indicators currently available show that real estate is still declining. This manifests itself mainly in the loans granted to real estate developers or those granted for the acquisition of housing. We also note a fall in cement consumption of 10% in 2022 and 8% during the first four months of this year. The situation remains very difficult, with in particular a large stock of unsold goods. There are fewer acquisitions of new homes and paradoxically more sales for old homes. Overall, the situation is not looking good and the outlook for 2023 is not promising, as all professionals in the sector are talking about a lack of visibility. We previously had an international request from the imMoroccan furniture, but it is part of a downward trend. MREs are investing less and less in this activity. Speculative investments are down. This component boosted the sector. Which is also alarming.
FNH: What effect will the rise in the interest rate have on activity?
D. E. : Rising interest rates can only slow down demand and acquisitions. Therefore, it should increase costs and increase selling prices. With inflation, the purchase of real estate does not figure as a priority in the concerns of Moroccans. This increase should not only lead to an increase in the cost of credit, but also affect other elements such as building materials, land and others. Real estate, which is already in poor shape, should be further impacted. Most promoters and operators in the sector sail by sight. With this situation, even the support measures allocated to the sector cannot give new impetus to activity.
FNH: Do you think that the facilities granted for construction in rural areas are insufficient to breathe new life into the sector in these regions?
D. E. : The measures taken to facilitate construction in rural areas are insufficient to revitalize the sector. This gives way to the bad practices observed before, such as clandestine housing. The current situation is stagnant, the procedures are long. It must also be recognized that the local authorities who manage these areas remain strictly attached to the administrative spirit in the application of the directives issued by the central power, without any possibility of flexibility. Especially since the inhabitants of rural areas are not used to requesting authorizations digitally. Therefore, it is suggested to set up a simpler procedure that is easily assimilated by this population.
FNH: There is a project to reposition the urban agencies, both in terms of their mode of operation and their attributions. What is your opinion on this subject ?
D. E. : Urban agencies pose a real problem both in the rural world and in the cities. Instead of being an administration that energizes the sector, it is in fact a blocking authority. To show the extent of the difficult situation in which these organizations find themselves, a single indicator reveals this situation. Of the total files submitted to the urban agency of Casablanca, only 20% have been validated. This is a penalizing element for investors. The agents of these institutions only apply laws that are rigid or outdated and no longer correspond to the socio-economic evolution that our country is experiencing. If these texts block development, the legislator must change them as soon as possible. For that, it is necessary to reduce as much as possible the intervention in the act of town planning and to move towards a lighter and more flexible formula. The urban planning act must be an important factor in supporting the socio-economic sectors.
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