The bubble may not burst yet but the real estate craze that Morocco has been witnessing shows signs of stabilization, most likely on the temporary basis.
The bubble may not burst yet but the real estate craze that Morocco has been witnessing shows signs of stabilization, most likely on the temporary basis. There is a consensus as everyone in the real estate sector, from developers to bankers, recognizes that prices have gone through the roof, so to speak. So much so that potential buyers have decided they can no longer afford to purchase a home and prefer to adopt a wait-and-see attitude. Mortgage lenders have been among the first ones to warn that the prices of new housing units have been alarmingly exceeding the real value of those units. Driven by unscrupulous developers and their speculative investors, prices reached unprecedented levels that are such a mismatch to the current wage levels in Morocco. And while prices have not decreased yet, they have stabilized to begin to worry the main players in the industry.
