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Morocco · Residential property

Market study: residential property in Morocco

What the public data says, and what it does not

Between 2015 and today, housing credit to households rises by 51.6%, credit to developers falls by 2.0%, and non-performing loans increase by 100.9%. Households borrow, developers do not, and arrears double. This market is not held back by demand: it is held back by inventory and by the withdrawal of funding from the supply side. This study measures rents across 75 urban areas over 22 years, sets ten urban markets against two independent sources, reads the access framework in the original legal texts, and opens the horizon to 2030 in three documented scenarios.

Country
Morocco
Sector
Residential property
Length
57 pages
Publication
Forthcoming
Contents

What the study contains, part by part

16 parts, 99 sections, 57 pages. Click a part to see the detail of what it covers.

  • The ten figures that sum up the market
  • The argument of this study, in one page
  • How to read this document
  • The three operational conclusions
  • What the property price index measures, and what it does not
  • Prices and transactions by asset category
  • The market city by city
  • Rents, the only long series available
  • National rent, by dwelling type and size
  • The ten urban markets, rents and momentum side by side
  • and 2 further sections on the same pattern
  • Agadir
  • Casablanca
  • El Jadida
  • Fès
  • Kénitra
  • Marrakech
  • and 4 further sections on the same pattern
  • Observed rents, rows 1 to 20 of 79
  • Observed rents, rows 21 to 40 of 79
  • Observed rents, rows 41 to 60 of 79
  • Observed rents, rows 61 to 79 of 79
  • Compared trajectory, affordable flat
  • Compared trajectory, villa
  • Household fragmentation, the structural driver
  • Moroccans living abroad
  • Solvency: what household credit says
  • What demographics impose, and what they do not say
  • First-time buying, a statistical blind spot
  • Where the demand the market does not serve sits
  • and 1 further section on the same pattern
  • The three listed developers
  • Inventory, the central fact of the sector
  • Funding for supply has withdrawn
  • Housing starts and completions
  • Prices, year on year
  • Transactions, year on year
  • Douja Promotion Groupe Addoha
  • Alliances Developpement Immobilier
  • Residences Dar Saada
  • Béni Mellal-Khénifra
  • Casablanca-Settat
  • Dakhla-Oued Ed-Dahab
  • Drâa-Tafilalet
  • Fès-Meknès
  • Guelmim-Oued Noun
  • and 6 further sections on the same pattern
  • The segments defined by tax law
  • What buying, then selling, costs
  • Buying from abroad: the foreign exchange regime
  • Letting: leases, certified dates and rent transfers
  • Tax on property gains, in detail
  • Registration duties and their thresholds
  • and 7 further sections on the same pattern
  • The method, explained without jargon
  • The assumptions of each scenario, written out and isolated one by one
  • Residential: the segment that decides the rest
  • Land: the least observable variable
  • Professional assets: a separate market
  • What would tip the market from one scenario to another
  • Inventory, the sector's first risk
  • Credit quality
  • Dependence on the diaspora
  • Currency and transfer risk
  • Exit liquidity
  • Supply concentration
  • and 2 further sections on the same pattern
  • Segments where demand exceeds affordable supply
  • Saturated segments
  • The non-resident individual
  • The building operator
  • What to check before committing
  • The supplier and the service provider
  • and 1 further section on the same pattern
  • No figure is typed by hand
  • What "verified" means here
  • The checks this document has passed
  • The sources, and why these
  • What this study does not replace
  • Table of sources, with consultation date
  • Definitions and scope
  • Data series in table form
  • Limitations of the exercise, stated plainly
📄

A free extract, so you can judge for yourself

6 pages taken from the final document, layout included: the ten key figures, the study's thesis, the three operational conclusions, the passage costing out a purchase and then a resale, and the detailed contents of all 16 parts. Enough to check the density and level of detail before paying anything. The extract is offered in the language displayed.

Available at publication

Who it is for

It is written for someone who has to settle a real decision, not to illustrate a slide deck.

🏛️

Investors and family offices

You are reviewing a Moroccan property case and need defensible orders of magnitude, with their sources and dates.

🌍

Moroccans living abroad

You are buying from abroad and want to know the real cost, the foreign exchange regime and what the law requires of the seller before signing.

🏗️

Developers and housing operators

You are weighing a launch and want to know which segments and which cities still carry solvent demand.

🧭

Advisory and consulting firms

You advise on this destination and need a consolidated quantified base you can cite without rebuilding it.

Method and sources

Where the figures come from

No figure is put forward without its source and date, and none is retyped into the text: each one is computed from a single register. The same figure therefore cannot differ from one page to the next, nor between the French and the English version. We quote only what we have read in the original document: on listed company accounts, four press write-ups out of five proved inaccurate.

Bank Al-Maghrib ANCFCC Ministry of Housing (MATNUHPV) Office des Changes AMMC General Tax Code Official Bulletin Official platform of the housing grant scheme

This study publishes no transaction price per square metre, because no Moroccan institution publishes one: the official index rests on land registry deeds but releases only index levels and changes. The amounts in circulation come from listing portals: those are asking prices, not recorded prices, and we do not repeat them. Yet the law requires off-plan sale contracts to state a price per square metre: the data exists in every deed in the country, and is aggregated nowhere. Projections are run as documented scenarios, each assumption written out and open to substitution.

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