The real estate assets held by Moroccan banks are a concern for the central bank. In this regard, Bank Al-Maghrib has invited banks to reduce their balance sheet.
The Moroccan real estate market continues its downward slide. According to the index of real estate asset prices published by Bank Al-Maghrib, there is a 3.3% drop, with decreases of 3.8% for residential prices, 3% for land prices and 0.9% for prices of professional properties.
Faced with the increase in debt payments, Moroccan banks have reduced their exposure to real estate development in recent years, especially with regard to individual entrepreneurs. The outstanding loans to this customer segment have fallen from 20 billion DH in 2014 to 6 billion DH at the end of 2019.
Hundreds of people, including MREs, have been victims of a real estate scam in Tangier . The developer is said to have disappeared into thin air, after pocketing large sums of money.
Investors who have acquired land in the Marrakech region under the Akenza program are now dismayed. Two years after completing all the acquisition formalities, they still cannot start the construction work on the planned high-end villas on the site.
Bank Al Maghrib sets new rules to protect the banking sector from bankruptcy, especially in terms of real estate loans. It calls for vigilance in order to secure assets.
The peer-to-peer accommodation platform, Airbnb prohibits the organization of any parties or events in apartments rented in Morocco as elsewhere. The company now limits capacity to a maximum of 16 people.
The health crisis related to Covid-19 has severely impacted the real estate sector in Morocco to the point that prices are falling.
The oldest Moroccan party, Istiqlal, is experiencing a serious financial crisis. To replenish the party’s coffers, the heirs of the founder Allal El Fassi are liquidating its real estate assets.
Two walis and a governor accused of having violated the regulations on urban planning in the context of the implementation of a real estate project in Fnideq were heard on Monday, August 10, at the Ministry of the Interior. A new anger of King Mohammed VI prompted the opening of this investigation.
Several government-owned housing units are currently occupied by former government members. Given the cost of their maintenance and management fees, the government wishes to dispose of them.
The Ministry of National Land Use Planning, Urban Planning, Housing and City Policy has taken new measures recorded in the 2020 Amended Finance Act to support the recovery of the housing sector. This sector has been severely affected by the health crisis related to the coronavirus.