Moroccan property sales and prices increase

 

Sales of property in Morocco are mostly on the up, as are the prices, according to new figures.

Transactions of villas in Morocco jumped by 40 per cent in the second quarter of 2012, according to the National Land Registry Office, while apartment sales also increased by 10 per cent year-on-year. Sales of houses, however, dipped by 6.1 per cent annually.

Despite this mixed picture, the outlook is mostly positive. Indeed, the value of Moroccan real estate is on the up too, as the market holds firm in the wake of the Arab Spring.

Residential property prices edged up by 1 per cent in the second quarter of the year, according to Global Property Guide figures. Apartments led the rise, with prices increasing by 2.3 per cent compared to the second quarter of 2011, although again the market saw mixed performance as house prices fell by 1.8 per cent.

Morocco's stable property market is expected to get another boost from tourism, adds Property Showrooms . The government announced plans this month to double tourist arrivals in the country to 20 million, ranking Morocco as one of the world's top 20 tourist destinations.

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