2023-09-26 10:41:41
Funding
“If rates are higher since the start of the year, this movement is accompanied by an increase in borrowers’ income.”
This is what data from Afdal.ma, the online real estate loan comparator, reveals. “In a context where property prices are falling, the situation might therefore be favorable to the property purchasing power of households.
All things being equal, rising interest rates reduce the ability of households to borrow,” says Afdal. And to specify that conversely, “the fall in rates represents a powerful catalyst, exerting upward pressure on real estate purchasing power”. According to Afdal, an increase in rates, in the field of real estate, tends to make buyers rarer and ends up leading to a price correction, even if this phenomenon can be accompanied by a time lag between the two events.
Furthermore, Afdal believes that the slowdown in housing credit should be put into perspective. Over the last two years, production has shown remarkable vigor, posting 33 billion dirhams in 2021 then 29 billion dirhams in 2022. The two years pre-Covid, it stood at 27 billion dirhams in 2018 and 26 billion DH in 2019.
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