2023-06-23 12:00:47
According to Mubawab, an empty apartment is rented on average at 7,700 dirhams per month once morest 8,800 dirhams for a furnished apartment.
Barometer: Referring to the Mubawab Tensiometer, rents for empty and furnished apartments have increased by 3% per quarter and 7% per year respectively.
In the first quarter of 2023, demand on the real estate rental market in Morocco increased slightly by 1% compared to the fourth quarter of 2022. This observation was established by Mubawab in its new edition of Tensiometer rental tracing the dynamics of the rental market at the national level for the first quarter of 2023. “This increase demonstrates the relative stability of the market following a period of fluctuations observed during the previous quarters. In the country’s main cities, supply remains below demand, indicating growth potential for the Moroccan property rental market. The actors concerned can thus consider strategies to take advantage of this favorable situation”, notes Kevin Gormand, CEO and co-founder of the Mubawab Group.
Referring to this publication, rents for empty and furnished apartments have increased by 3% per quarter and 7% per year respectively. “An empty apartment is rented, on average, at 7,700 DH per month, while a furnished apartment is rented, on average, at 8,800 DH per month”, we learn regarding this. With regard to villas, the monthly rental average stands at 23,800 dirhams in the first quarter, an increase of 5% quarter-on-quarter and 3% year-on-year. The rent for a furnished villa amounts to 24,500 dirhams per month, thus increasing by 2% quarterly and 4% annually.
As for the area, Mubawab points out that the average of apartments for rent in Morocco during the first quarter of 2023 remains stable compared to that observed in the fourth quarter of 2023, with an average area of 99m². “At the national level, the average surface area of empty apartments is 106 m², while that of furnished apartments is 90 m². Empty apartments recorded a quarterly increase of 3%, while furnished apartments experienced a drop of 2%”, explains the Group in its Tensiometer rental.
By city, Mubawab observes a stronger quarterly increase in the prices of empty and furnished apartments in Marrakech. We note respective increases of 10 and 3% in the first quarter of 2023. On the other hand, Agadir recorded the largest quarterly drop in the prices of empty and furnished apartments with respectively -8 and -9%. In addition, an increase was observed in Casablanca, particularly for empty apartments, at a time when the prices of furnished apartments improved slightly in mainland France.
At the same time, Rabat recorded a quarterly decline for empty and furnished apartments of 5 and 6% respectively. Despite this drop, Mubawab indicates that Rabat remains the city where rents are the highest for both types of apartments, with average monthly prices of 9,800 dirhams for empty apartments and 11,000 dirhams for furnished apartments.
Finally, it is interesting to note that Fes recorded an annual decrease of 10% for empty apartments and a stagnation in prices for furnished apartments, while Kenitra recorded a quarterly decrease of 1% for empty apartments and 5% for furnished apartments. On the other hand, the cities of Ain Harrouda, Had Soualem and Khouribga offer more affordable rents, with averages of 1,100 to 1,900 dirhams per month.
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