In the economic capital, between the third and fourth quarters of 2021, second-hand housing transactions are on an upward trend, as are prices, according to Bank Al-Maghrib (BAM) and the National Conservation Agency cadastre and cartography (ANCFCC), in a note on the overall trend of the real estate market during the 4th quarter of 2021.
The fall in real estate interest rates does not only benefit new properties but also second-hand housing. In Casablanca, prices rose 0.6% quarter on quarter, the result of increases of 0.8% for residential, 1.3% for land and 0.4% for goods for professional use, according to BAM and the ANCFCC, in a note on the overall trend of the real estate market during the fourth quarter of 2021. Regarding sales, they recorded an increase of 65%, reflecting increases in residential property transactions ( 78.2%), land (33.2%) and assets for professional use (21.6%). Over the year as a whole, the price index depreciated by 4.2% and transactions increased by 23.4%.
A total of 9,000 transactions were recorded in the economic capital during the last quarter of last year compared to 5,500 in the third quarter of 2021. A record since it is the second best score over a quarter, after that of October to November 2014.
Overall, at the national level, the real estate asset price index (IPAI) depreciated by 3.2% over the whole of 2021, indicate BAM and the ANCFCC. This change covers the decreases of 4% in the prices of residential assets, 1.7% in those of land and 4.3% in those of goods for professional use, specify BAM and ANCFCC.
The number of transactions, for its part, recorded an increase of 32.8% over the whole of 2021, and this after a year 2020 marked by the advent of the health crisis. This increase reflects increases of 26.1% for residential, 50.1% for land and 45.9% for goods for professional use, the note specifies. In the fourth quarter of 2021, the IPAI fell by 6%, year-on-year, adds the note, specifying that the drop concerned all categories of goods, with rates of 7.6% for residential, 3 .7% for land and 5.2% for goods for professional use.
As for the number of transactions, it marked a decline of 14.7% reflecting drops of 16.8% for residential property, 16.5% for land and an increase of 6.5% for goods for professional use.
By city, in addition to Casablanca, BAM and the ANCFCC report a quarter-on-quarter price increase in Rabat of 3.9%, price stagnation in Tangier and a drop of 2.5% in Marrakech, compared in the previous quarter.