Tangier Real Estate: Housing Prices Rise Slightly as Sales Slump
The real estate market in Tangier is showing contrasting trends. While the overall price index has increased by 0.1%, this apparent stability masks divergent realities depending on the types of properties at the end of 2024.
The residential sector, which includes apartments, houses and villas, is holding its own with a 0.6% increase in the price index. However, this increase does not seem to be stimulating transactions. Indeed, the volume of sales for this type of property shows a significant decline of 11.4%, according to data from Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC).
Conversely, the urban land market is showing signs of more positive dynamics. Despite a 3% drop in their prices, transactions have increased by 7.1%. This enthusiasm could be explained by an attraction for land investment, as land potentially offers better long-term profitability.
The professional asset sector, encompassing commercial premises and offices, is facing difficulties. The price index fell by 5.5% for commercial premises and 6.7% for offices, and sales plummeted by 21.3%.
Overall, the real estate market in Tangier seems to be going through a period of uncertainty. The general decline in the volume of sales (-9.6%) reflects a certain caution on the part of investors or a certain wait-and-see attitude.
