Results of the sale of riad and other real estate in late 2010 in Marrakech and Morocco

The real estate sector in Marrakech and Morocco in the world is changing following the 2008 financial crisis. The evolution of the sale of riad in Marrakech is closely monitored by the authorities. Is it that there has been increasing sales? Is the number of riad to renovate and sell rose? What about the sale of luxury villas in Marrakech in Morocco and elsewhere?

A review of transactions in the fourth quarter 2010 was recently published by the Bank Al-Maghrib in partnership with the ANCFCC (National Agency of Land Conservation, Land Registry and Mapping). This review deals with transactions in the residential real estate in Morocco.

The general trends

The general trend depicted in the balance, transactions have experienced a general decline hovering around 16%. In detail, 11 240 transactions were recorded on behalf of the fourth quarter of 2010, a decrease of 16.6%. 90% of these transactions represent sales of apartments, for a total of 9945, down from 17% in the number of apartments sold in comparison with the previous quarter. By cons home sales are not less than 8% of the transactions recorded, a total of 1028 operations. There and a decrease of 17.2% of homes sold from the third quarter. The surprise comes from the sale of villas, they increased by 2.3% in the third quarter for a total of 267 transactions recorded.

Trends by region

In terms of regions, there has been sharp declines in the Greater Casablanca, Rabat-Salé-Zemmour-Zaer and also in the region of Meknes-Tafilalt. As against an increase in transactions was observed in the region of Fez-Boulmane. Although the level of transactions has decreased in the Greater Casablanca, the city records alone 40.5% of transactions, Marrakech and Tangier 14.8% 11.1%. The cities that were the subject of the study (ten in total) recorded increases in sales last quarter of 2010, the largest increases were recorded by Agadir (118%) and Rabat (78.2%).

Overall, the prices of goods fell by around 2% over the third quarter to be more precise, it is the price of houses and villas which fell, while apartments remained stable. Compared to the third quarter, prices for villas fell by around 0.7%, mainly in Casablanca and Marrakech. By cons prices rose 11.1% in Meknes.