<\/p>\n
Morocco\u2019s real estate market recorded a broad increase in property prices in 2025, with Rabat posting the strongest gains and Marrakech leading growth in transactions, according to Bank Al-Maghrib\u2019s annual report presented to King Mohammed VI on Tuesday.<\/p>\n
The central bank said property prices continued the moderate upward trend observed over the past two years, rising by 0.6% overall in 2025, although performance varied significantly among the country\u2019s major cities.<\/p>\n
Rabat registered the largest increase in property prices, with values rising by 3.6% compared with the previous year.<\/p>\n
At the other end of the spectrum, Fez recorded the smallest increase, at just 0.2%, highlighting the uneven pace of growth across Morocco\u2019s main urban centers.<\/p>\n
According to the report, prices increased across all asset categories, rising by 0.9% for residential properties and urban land, and by 0.3% for commercial real estate.<\/p>\n
Despite higher prices, the market maintained strong momentum, reflecting sustained demand and investor interest.<\/p>\n
Marrakech emerged as the country\u2019s most dynamic market, with property transactions surging by 29.9% in 2025.<\/p>\n
Only Agadir and Kenitra recorded declines in sales volumes, while transaction activity increased in most other cities.<\/p>\n
After a sharp rise of 19.6% in 2024, overall property transactions grew by 6.6% last year, driven by increases of 10.3% in land transactions, 12.4% in commercial real estate deals and 4.9% in residential sales.<\/p>\n
Bank Al-Maghrib\u2019s report also highlighted the impact of its accommodative monetary policy, aimed at supporting economic activity and easing financing conditions.<\/p>\n
Banking-sector liquidity improved in 2025, with banks\u2019 liquidity needs declining to an average of 128.7 billion dirhams ($13.9 billion).<\/p>\n
The central bank attributed part of this improvement to the voluntary tax regularization program for individuals, which contributed to a reduction in cash circulating outside the banking system.<\/p>\n
In March, Bank Al-Maghrib cut its benchmark interest rate to 2.25% as part of its efforts to stimulate growth and reduce borrowing costs.<\/p>\n
The central bank also continued to meet banks\u2019 liquidity needs through weekly interventions averaging nearly 140 billion dirhams.<\/p>\n
However, the report projects that banks\u2019 liquidity requirements will gradually increase, reaching around 143 billion dirhams by the end of 2026.<\/p>\n
The report noted that lower interest rates translated into cheaper financing and stronger credit growth for businesses, particularly investment loans.<\/p>\n
Overall, bank lending to the non-financial sector \u2014 which includes households and companies \u2014 expanded by 4.8% in 2025.<\/p>\n
At the same time, demand for household credit slowed slightly, reflecting more cautious spending patterns.<\/p>\n
Consumer lending growth weakened as household consumption rose by only 1.2% in 2025, down from 2.9% a year earlier.<\/p>\n
Mortgage lending also slowed, suggesting that many households are postponing major purchasing decisions amid rising property prices in some cities and concerns about long-term affordability.<\/p>\n
According to the report, many prospective buyers appear to be waiting for prices to stabilize or for their purchasing power to improve before committing to long-term home loans.<\/p>\n
Despite slower borrowing and changing economic conditions, the ratio of non-performing loans remained broadly stable at slightly above 8% of total lending.<\/p>\n
Although the stock of troubled loans exceeded 100 billion dirhams across the banking sector, Bank Al-Maghrib said borrowers have generally demonstrated resilience in meeting their financial obligations.<\/p>\n
The report concluded that bank lending to the non-financial sector continued to expand in 2025, even as household borrowing for consumption and housing showed signs of moderation.<\/p>\n<\/p><\/div>\n
Rephrase in a different way as if you were a native American speaker as a content creation expert and do not talk about yourself or your experience in the text and do not show yourself as an artificial intelligence who wrote and fill the bullet point in the topic and speak the heart of the topic itself and dont take date of blog in ther first and dont take text like box of newsliter subscribe on post from content and romove all linke insert in content and and remove all affiliate disclosure phrases on content like this “This post may contain Amazon or other affiliate links that allow us to earn a small commission at no extra cost to you. Please see our Disclosure Policy for more info” and “#” put in its place bullet point, and romove name of the web site or his links we are take a content from our new creation<\/p>\n","protected":false},"excerpt":{"rendered":"
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