Morocco’s real estate market showed signs of recovery in the second quarter of 2026, with transactions rising 11% and property prices increasing 0.7% from the previous quarter, although activity remained below levels that would indicate a sustained recovery.
The rebound followed a sharp contraction in the first quarter, when transactions fell 38.4% for residential property, 46% for land and 40.2% for commercial and professional properties. The second-quarter increase therefore represented only a partial recovery from the losses recorded earlier in the year.
Residential property prices rose 1% from the previous quarter, while land prices increased 0.6% and professional property prices 0.4%. Transactions rose 6.3% for residential property, 21.8% for land and 23.5% for professional property.
Within the residential segment, apartment prices increased 1% during the quarter, compared with 0.3% for houses and 3.3% for villas. On a yearly basis, apartment prices rose 1.1%, while house and villa prices fell 0.7% and 0.3%, respectively.
The recovery also varied significantly by city. Property prices rose 2.3% in Tangier and 1.9% in Rabat, compared with 0.5% in both Casablanca and Marrakech. Transactions increased 61.2% in Rabat, 18.3% in Marrakech, 11.5% in Tangier and 4.4% in Casablanca.
Analyst Mohamed Ben Seddik said the second-quarter figures pointed to a gradual return of liquidity after the sharp contraction but remained largely a recovery from the first quarter. He said the simultaneous rise in transactions and residential prices suggested that demand was returning faster in some areas than new supply was coming onto the market.
Housing finance also continued to support demand. Household loans reached 403.4 billion dirhams at the end of July, up 3.3% year on year, while housing loans increased 2.6%. Participatory housing finance stood at 32.1 billion dirhams, up 17.1% annually.
The government’s direct housing assistance program has also expanded the pool of potential buyers. The program provides 100,000 dirhams for homes priced at up to 300,000 dirhams and 70,000 dirhams for homes priced between 300,000 and 700,000 dirhams.
More than 105,000 people had benefited from the program by early June, according to the figures cited in the report. People under 40 accounted for 52% of beneficiaries, while Moroccans living abroad represented 24%.
The combination of stronger demand, easier access to housing finance and direct subsidies is supporting market activity, but the recovery remains uneven. In areas where demand is concentrated and housing supply is limited, stronger demand could put additional pressure on prices.
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