RABAT- Real estate asset prices in Rabat have seen a 5% increase in the first quarter of 2023, according to a report from the Bank of Morocco and the National Agency for Real Estate Conservation.
The increase is mainly due to a rise in residential property and land prices by 4.3% and 23.1% respectively. However, not all property categories followed the same trend.
Assets designated for professional use saw a 6.6% decrease in prices, and real estate transactions declined by 1.4%.
This downturn was primarily seen in sales of residential properties, which decreased by 1.9%, and land sales, down by 17.4%.
The prices of residential properties grew largely due to an increase in the cost of houses (15.3%) and apartments (3.9%).
The prices of assets for professional use declined due to a 9.2% decrease in commercial property prices.
