(MENAFN - Morocco World News) Rabat – Despite the price of real estate in Fes increasing by 3.8 percent, house prices have dropped in the city by 5.9 percent in price index of active real estate for the first trimester of 2017, reported the National Agency of Land Registry, Cadastre and Cartography (ANCFCC) and Bank Al-Maghrib.
According to the report, prices of villas surged by 11.4 percent, commercial premises by 9.2 percent, and apartments by 3.5 percent. Prices of offices also registered a small growth of 2 percent and land in urban areas by 2.8 percent.
By contrast, transactions in Morocco saw an overall decline of 7.8 percent while home sales have particularly fallen, registering a decline of 47.6 percent followed by urban lands (-25 percent) and offices (-13.3 percent). Prices of apartments also registered a decline of -2.2 percent.
Only the prices of villas have increased (+54.5 percent) as well as commercial premises, added the agency.