Real Estate - Morocco

Morocco

In 2024, the Real Estate market market in Morocco is projected to reach a value of US$1.63tn.
The Residential Real Estate segment is expected to dominate the market, with a projected market volume of US$1.45tn in the same year.
Looking ahead, this segment is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 4.69%, resulting in a market volume of US$2.05tn by 2029.
When comparing globally, it is worth noting that United States is expected to generate the highest value in the Real Estate market market, with US$132.0tn in 2024.
Morocco's real estate market is experiencing a surge in demand for luxury beachfront properties due to its stunning coastline and growing tourism industry.

Key regions: United States, China, Japan, Germany, United Kingdom

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Analyst Opinion

Morocco, a country known for its rich history and vibrant culture, is experiencing significant developments in its real estate market. With an increasing number of tourists and a growing middle class, the demand for residential and commercial properties is on the rise.

Customer preferences: Customers in Morocco are increasingly looking for modern and well-designed properties that offer a range of amenities. There is a growing demand for properties with easy access to transportation, shopping centers, and recreational facilities. Additionally, customers are also showing interest in eco-friendly and sustainable properties, reflecting a global trend towards more environmentally conscious living.

Trends in the market: One of the key trends in the Moroccan real estate market is the development of integrated communities. These communities offer a mix of residential, commercial, and recreational spaces, providing residents with a convenient and self-contained living environment. This trend is driven by the desire for a more holistic and convenient lifestyle. Another notable trend is the increasing interest in vacation homes and second homes. Morocco's beautiful coastline and rich cultural heritage make it an attractive destination for tourists and investors alike. The demand for vacation homes is driven by both domestic and international buyers who are looking for a place to relax and enjoy the country's natural beauty.

Local special circumstances: Morocco's strategic location at the crossroads of Europe, Africa, and the Middle East makes it an important hub for trade and business. This has led to the development of commercial real estate projects, such as office spaces and logistics centers, to cater to the growing needs of businesses operating in the region. Additionally, the government has implemented policies to attract foreign investment, further fueling the growth of the real estate sector.

Underlying macroeconomic factors: Morocco's stable economic growth and political stability have played a significant role in the development of its real estate market. The country has implemented economic reforms and infrastructure projects to attract foreign investment and promote economic diversification. These factors have contributed to an increase in job opportunities and disposable income, driving the demand for residential and commercial properties. In conclusion, the real estate market in Morocco is experiencing significant growth due to customer preferences for modern and well-designed properties, the development of integrated communities, and the increasing interest in vacation homes. The country's strategic location, stable economic growth, and government policies to attract foreign investment are also key factors driving the market's development. As Morocco continues to attract tourists and investors, the real estate sector is expected to further expand in the coming years.

Methodology

Data coverage:

Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.