Morocco
Marrakech Riad Prices Plunge 40% as Tourism Slump Hits Morocco's Real Estate Market
In Morocco, real estate is one of the sectors hit hard by the coronavirus. In Marrakech, for example, some riads have seen their prices plummet by 30 to 40%.
Topic
Real estate
Morocco
Morocco's Real Estate Sector Faces Double Crisis: COVID-19 Compounds Existing Challenges
In Morocco, real estate is one of the sectors most affected by the health crisis related to the coronavirus. A sector already facing an endogenous crisis. Zakia Medkor, Head of Technical Risks and Specialties Underwriting, provides some insight.
Morocco
Morocco Considers Overhaul of Eminent Domain Laws to Protect Property Owners
A new bill on real estate expropriation for public utility is currently on the table of parliamentarians. It aims to compel the State or local authorities to expropriate the entire property when part of it is unusable, and to extend the deadlines to allow the expropriated to examine the file.
Belgium
Brussels Launches Plan to Combat Housing Discrimination and Ensure Equal Access
The Brussels authorities announced on Thursday the implementation of new tools aimed at more effectively combating ethnic, financial or physical discrimination in the housing sector. This system makes proactive testing possible, a step forward that will restore equal opportunities in the sector.
Morocco
Morocco's Real Estate Sector Eyes Summer 2021 Recovery Amid Pandemic Slump
Morocco’s real estate developers, completely weakened by the devastating effects of the Covid-19 pandemic on their sector of activity, are maintaining a glimmer of hope to give themselves visibility during the next summer season, even if that of 2020 was not the most flattering due to the closure of borders.
Morocco
Marrakech Real Estate Probe: Police Investigate Massive Money Laundering Scheme
The financial brigade of the regional security of Marrakech is conducting an investigation into a huge case of money laundering of large sums of money. A network active in the city would be laundering drug money in real estate.
Morocco
Moroccan Consumer Confidence Surges, Boosting Real Estate and Bank Lending
Moroccan households are regaining a certain improvement, as reflected in the future financial situation, which gained 20.7 points compared to the fourth quarter of 2020 and 12.8 points compared to the first quarter. This rebound in consumer confidence is reflected in the real estate sector, which shows an outstanding credit of 223 billion dirhams at the end of March, up 4.3%.
Morocco
Morocco's Bank Lending Grows 3.3% in Q1 2021, Real Estate Loans Rise
Bank loans allocated stood at 948.42 billion dirhams in the first quarter of 2021, an increase of 29.94 billion dirhams compared to the same period in 2020, according to the latest statistics from Bank Al-Maghrib.
Morocco
Marrakech Land Scandal: Officials and Developers Under Investigation for State Property Fraud
A land scandal is once again affecting the city of Marrakech. The National Brigade of the Judicial Police (BNPJ) is investigating this controversial case involving elected officials, senior civil servants and real estate developers placed under judicial supervision and banned from leaving the territory.
Morocco
Morocco Real Estate: Expert Explains Hidden Defects in Property Purchases
After the purchase of a property, hidden defects can be found. In an interview with the MAP , Mohamed Lazim, General Manager of the GUI4 firm, real estate expert and member of the Royal Institution of Chartered Surveyors (MRICS), provides some clarifications.
Morocco
Moroccan Real Estate Fraud Trial: Bab Darna CEO's Verdict Delayed Until May 18
Mohamed El Ouardi, CEO of Bab Darna, the main accused in a real estate scandal, will have to wait until May 18 before knowing his fate. The criminal chamber in charge of financial crimes at the Casablanca Court of Appeal has decided to postpone the trial that opened on Tuesday, April 27.
France
Moroccan Expat Uncovers Identity Theft Scheme, Leads to Bust of Counterfeiting Ring in Kenitra
A Moroccan residing in France helped the judicial police dismantle a counterfeiting network. He had been declared dead and a fake heir had taken possession of a real estate property he owns in Kenitra .