Bank Al Maghrib (BAM), reported Thursday that the property asset price index (IPAI) fell, during the 2nd quarter of 2020, quarter on quarter, by 3.3%, covering decreases of 3.8 % for residential prices, 3% for land prices and 0.9% for those of goods for professional use.
The volume of transactions recorded a decline of 42.8%, reflecting the decline in sales of all categories, i.e. 38.2% for residential, 53.7% for land and 54.2% for goods. for professional use, also notes BAM in a publication retracing the global trend of the real estate market during the 2nd quarter of 2020.
On a year-over-year basis, prices were down 3.3%, with declines of 4% for residential assets, 2.7% for land and 1.3% for professional goods, adds the Central Bank, noting that the number of transactions decreased by 56.1% compared to the same quarter of last year, resulting in declines of 55.3% for residential, 59.1% for land and 57 , 2% for goods for professional use.
By asset class, quarter on quarter, residential prices fell 3.8%, reflecting declines in all asset classes with rates of 3.7% for apartments, 5.1% for houses and 0.8% for villas, specifies the Central Bank, observing that the volume of transactions fell by 38.2%, the result of regressions in sales of apartments by 37.2%, houses by 59% and villas by 17.9%.
BAM also reports that on a year-over-year basis, prices have depreciated by 4%, in connection with the decreases of 3.7% in apartment prices, 6.7% for houses and 3.1% for villas.
Regarding sales, they fell by 55.3%, with declines of 54.9% for apartments, 66.6% for houses and 44.5% for villas.
In terms of land, quarter over quarter land prices fell 3% and transactions declined 53.7%. On a year-over-year basis, land prices fell 2.7%, and the number of transactions was down 59.1%.
Regarding the commercial, the issuing body indicates that the price index of goods for professional use fell by 0.9% from one quarter to another, covering a decrease of 1.5% prices for commercial premises and a 1.4% increase in those for offices.
The volume of transactions, for its part, fell by 54.2%, the result of declines of 54.4% in sales of commercial premises and 52.9% of those of offices.
On a year-over-year basis, prices for professional goods fell 1.3%, reflecting a 1.9% drop for commercial premises, while office prices rose 2.5%.
As far as transactions are concerned, they fell by 57.2%, with decreases of 56.4% in sales relating to commercial premises and 61.1 in those of offices.
The analysis of the real estate market trend by city shows that in Rabat, prices fell 5.9% quarter on quarter, with decreases of 6.7% for residential and 10% for properties in professional use, while those for land increased by 3.8%.
As for transactions, they decreased by 57.1%, with declines of 59.6% for residential, 22.7% for land and 52.2% for goods for professional use.
In Casablanca, prices fell 2.5% quarter over quarter, covering a drop of 3.4% for residential, as well as respective increases in land and professional goods of 1.3 % and 3.3%.
As regards sales, they fell by 27.4%, reflecting decreases of 21.8% for residential goods, 47.9% for land and 49% for goods for professional use.
Bank Al Maghrib notes that in Marrakech, prices recorded a decline of 3% in the second quarter of 2020, the result of decreases of 2.6% for residential, 4.7% for land and 2.7% for goods for professional use.
As for transactions, they contracted by 39.6%, reflecting a decline in those relating to all categories, with in particular 25% for residential, 68.6% for land and 54.1% for goods. for professional use.
This downward trend was also seen in Tangier, with the price index falling 6.5%, reflecting price declines for all categories, i.e. 8.7% for residential property, 5.1% for land and 8.1 for goods for professional use.
Likewise, sales fell by 40.2%, resulting in drops of 38.8% for residential, 41.7% for land and 53.4% for goods for professional use.
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