Morocco's real estate price index (IPAI) declined by 0.4% year-on-year in the first quarter of 2026, according to data from Bank Al-Maghrib (BAM) and the National Agency of Land Conservation, Cadastre and Cartography (ANCFCC).
The decrease was primarily driven by a 1.4% drop in land prices, while residential property prices remained stable. Commercial property prices saw a slight increase of 0.2%.
In terms of volume, the number of real estate transactions decreased by 2.1% compared to the same period in 2025, with 78,500 transactions recorded in Q1 2026.
Analysts attribute the modest decline to ongoing adjustments in the market following a period of rapid price growth in previous years, as well as tighter lending conditions.
