Morocco’s property market held steady in the second quarter of 2025, with real estate prices overall showing little movement. However, that surface-level calm hides subtle shifts within different types of property. According to the latest figures from Bank Al-Maghrib and the National Land Registry Agency, price trends varied by asset class, while transaction volumes dropped sharply across the board.
Housing prices rose slightly over the past year, inching up by just 0.1%. In contrast, both land and commercial property prices dipped 0.3% over the same period. Despite the mostly flat pricing, activity in the market saw a significant contraction, with total transactions down 21.2% compared to the same time last year. Residential real estate took the hardest hit, plunging nearly 26%. Commercial properties weren’t far behind, with a drop of 20.9%, while land deals shrank by 3%.
When compared to the previous quarter, the overall property price index slipped by 0.2%. Residential properties declined by 0.3%, while land and commercial assets both edged down 0.2%. The slowdown in pricing was matched by a decline in sales volume, which fell 10.8% across all categories. Residential transactions tumbled by 15.1%, and commercial property sales decreased by 13.3%. Land was the only segment to post growth, with a 6% increase in transactions.
At the city level, Rabat stood out from the trend, recording a 1.4% uptick in overall prices. Residential real estate in the capital surged by 2.4%, although land prices dropped 2.6% and commercial properties slipped 0.5%. The capital also saw a modest boost in activity, with transactions rising 4.3%, largely thanks to an 8.2% increase in residential sales. Meanwhile, land and commercial sectors struggled, with sales down 32.6% and 6.8% respectively.
In Casablanca, prices slid 0.5% over the year. Residential assets were down 0.3%, land fell 2.9%, and commercial property dipped 0.8%. Sales across all segments took a hit, with total transactions declining 13.9%.
Marrakech showed a mild 0.2% gain in property prices. The residential market ticked up by 0.1%, land climbed 0.9%, and commercial property slipped 0.4%. Activity in the city improved overall, rising 2.7%, fueled by strong growth in land deals (up 13.4%) and commercial sales (up 9.9%), despite a 0.5% dip in residential transactions.
Tangier saw prices fall by 0.5%, with modest declines in residential property (down 0.1%) and more noticeable drops in land (down 2.3%). Commercial assets, however, rose 0.8%. Market activity in the northern port city slowed considerably, with transactions plunging 19% overall. Sales were down across all segments—residential by 19.2%, land by 22.5%, and commercial property by 7.5%.
While prices appear stable on paper, the data paints a more nuanced picture of a market grappling with weak demand and uneven performance across sectors and regions. The real estate sector in Morocco is clearly at a crossroads, as investors and buyers alike tread cautiously amid shifting dynamics.
