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Coronavirus: Real estate transactions drop 29.5%

The Real Estate Asset Price Index fell 1.4% year-on-year in the first quarter of 2020 and transactions fell 29.5%, say Bank Al-Maghrib (BAM) and National Agency for Land Conservation of Cadastre and Mapping (ANCFCC).

This decline comes from the decline of 1.5% for residential assets, 1.2% for land and 2% for professional goods, specify BAM and the ANCFCC in a note on the overall trend of the real estate market during the 1st quarter of 2020.

The decrease in transactions is due to the drop in sales of residential by 30.6%, land by 28.7% and goods for professional use by 22.3%.

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