Demand for Commercial Real Estate in Morocco Continues to Slide in 2022
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Loading... - Abecassis Fatima
- 07 Feb 2023
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Commercial premises are rising in value as demand is declining amid the ongoing economic downturn.
Between February and November 2022, demand for commercial real estate dropped sharply in Morocco, echoing the worldwide economic downturn.
Since the start of the Ukraine war, demand for rent for commercial offices dropped by 21%, while demand for office space for sale slid by 30%, according to research from the real estate company Mubawab Group.
The weakening demand coincides with an equal weakening offer, the company said. “For offices for rent, supply weakened between June and July, certainly marked by the summer break, only to return to timid growth in September,” it explained.
“We are seeing an evolution in the supply of office space, which is now moving towards smaller spaces, generally located close to city centers and therefore better served by transportation,” said Kevin Gormand, CEO and co-founder of Mubawab Group.
He added, “Companies are now opting for new or restructured buildings that offer more opportunities in terms of layout.” Read More…
