Moroccan real estate developers warn of halt in property transactions

The National Federation of Real Estate Developers in Morocco is warning of a significant halt in property transactions. While official data indicates a decline of 30% to 40%, industry professionals suggest the actual market downturn may be even more severe.

Several factors are contributing to this stagnation. Demand from Moroccans living abroad has decreased due to inflation in their countries of residence. On the supply side, there is a critical shortage of buildable land in major cities such as Casablanca, Rabat, Tangier, Marrakech, and Agadir, a trend now reaching medium-sized towns. Additionally, rising petroleum prices have increased construction costs, and administrative delays for permits can now last up to a year. The notary platform, Tawtik, also experienced several weeks of paralysis due to cyberattacks.

Despite a direct housing aid program offering up to 100,000 dirhams, interest remains limited. Developers are looking toward infrastructure projects related to the 2030 World Cup for recovery but note that housing production is currently lagging behind infrastructure progress. Industry leaders are calling for government intervention, specifically regarding the mobilization of public land and the simplification of authorization procedures to prevent the slowdown from further impacting employment and the broader economy.