Moroccans living abroad (MRE) contribute considerably to the revival of the real estate sector, which will surely experience momentum with their return during the summer holidays. With the launch of Operation Marhaba on June 5, a record influx of MRE is expected, which will give a boost to several sectors of activity, including real estate. Added to this is the remarkable enthusiasm of MREs for the direct housing assistance program, since its launch last January. According to the Minister Delegate in charge of Relations with Parliament, government spokesperson, Mustapha Baitas, a total of 64,000 requests relating to direct housing assistance were submitted, including 20% made by MREs.
“MREs, which mark their strong return to the real estate sector, constitute a factor in revitalizing and reviving the market,” said Amine Mernissi, real estate expert and founder of www.reponsimmo.com. “The direct housing assistance program constitutes a factor in reviving the real estate sector,” said Mr. Mernissi, in an interview with MAP. According to him, this program, which aims to enable a first-time buyer to access property via substantial direct financial assistance, can only constitute a factor in boosting demand and, ultimately, supply. And note that national real estate development is organized to respond optimally, while respecting the economic profitability of this major program. Returning to the quarterly upward trend (+0.4%) of the real estate asset price index (IPAI) during the first quarter of 2024, the expert noted that it does not present significant upward or downward variations for the two main segments, namely residential and land. He says this relative stability may seem surprising, given the general increase in inputs and production costs associated with housing construction. “Between prices and transactions, indices fluctuate irregularly. It is quite logical that an asset whose price increases during periods of economic tension and reduction in purchasing power struggles to find a buyer,” he explained. Furthermore, Mr. Mernissi stressed that when prices increase due to cyclical factors, this has a direct impact on the market, particularly in the real estate sector, leading to a clear decline in the commitment of buyers. As for the outlook, the expert noted that the real estate market is multi-asset, highlighting the importance of taking into account the different components of the market, including the rental sector. Thus, he anticipates an acceleration in economic dynamics and construction sites across the country as the 2025 Africa Cup and the 2030 World Cup approach. However, he also emphasizes that the realization of these positive prospects will depend in part on the evolution of the global political and economic situation. Launched in accordance with the High Royal Instructions, the housing assistance program, which covers the period 2024-2028, aims to renew the approach to assistance with access to property and to support the purchasing power of households. It thus offers direct financial assistance to the buyer in the amount of 100,000 DH for the purchase of housing at a price less than or equal to 300,000 DH including tax, and 70,000 DH for the purchase of housing whose price is greater than 300,000 DH including tax and less than or equal to 700,000 DH including tax.
