2023-08-27 00:23:46
Hibapress
Real estate transactions would improve in the third quarter of 2023 (Q3-2023) due to the contribution of Moroccans residing abroad (MRE) who drive the real estate market every year during the same period, estimated the real estate expert, author of the “Répons’IMMO” guide and founder of www.reponsimmo.com, Amine Mernissi.
“The second quarter Real Estate Asset Price Index (IPAI) figures do not reflect the contribution of MREs in the real estate sector. In order to decide on the prospects for development, we must wait for the publication of the figures for Q3-2023 which will take into account the share of MREs”, underlined Mr. Mernissi in an interview granted to MAP.
“The year 2023 has seen announcement effects which will only bear fruit from 2024, in particular the direct aid program initiated by the government for the benefit of first-time buyers”, he said. , noting that between now and the end of the year, the market will remain in a form of wait-and-see, given that direct aid will only be released in 2024, which will push economic agents to postpone their acquisitions of goods real estate.
According to him, the trend of the IPAI is clearly bearish when it comes to transactions. The prices, meanwhile, show sometimes slight decreases, sometimes slight increases.
By city, the expert said that Rabat and Marrakech were the surprise of this second quarter with positive figures, while Casablanca and Tangier are in difficulty in terms of transactions.
“We can deduce that the demand is present in Rabat and Marrakech, the latter is reflected in the figures. For Marrakech, there is a catch-up effect following the successive declines recorded over several quarters,” he pointed out, stressing that Rabat, the capital of the Kingdom is attracting more economic agents in terms of real estate investment.
And to conclude that the rise in interest rates noted by BAM in June is not spectacular, insofar as if the borrower has savings and opts for a long term of 15 to 20 years, he will be able to claim to a correct monthly payment.
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