The Central Bank of Morocco announced, yesterday, Saturday, that real estate prices in the country rose by 0.8% during the first quarter of this year, compared to the same period last year.
The bank and the National Real Estate Conservation Agency (governmental) said in a joint statement, “The real estate asset price index recorded an increase of 0.8% in the first quarter of 2024 on an annual basis.”
The statement spoke about:
- Residential real estate prices rise 0.7%
- Land rates are 1.2%.
- The stagnation of real estate prices for professional use compared to the first quarter of 2023
Sales decline
Regarding sales in the real estate sector, the statement indicated a decline of 3.1% during the first quarter of 2024, compared to the same period last year.
The statement attributed the reason for the decline to:
- Residential real estate sales decreased by 3.1%
- Real estate sales decline forFor professional use, 14.8%.
- While floor stain sales increased by 3.6%.
Direct support for housing acquisition
Last May, government spokesman in Morocco, Mustafa Paytas, said that the number of beneficiaries of direct support for housing acquisition, from January to May 23, reached 11,749 beneficiaries, while the number of requests related to this support reached 73. Alpha and 711.
In October 2023, the government announced a program to support families to own housing, and it was launched last January, where:
- It has allocated financial support amounting to 100,000 dirhams ($10,000) for the purchase of a home whose selling price is less than or equivalent to 300,000 dirhams ($30,000).
- It allocated support amounting to 70,000 dirhams ($7,000) to purchase housing whose price ranges between 300,000 dirhams ($30,000) and 700,000 dirhams ($70,000).
