Morocco’s real estate market experienced a significant slowdown in the first quarter of the year, according to a joint report by the Bank of Morocco and the National Agency for Land Conservation, Cadastre and Mapping. The Property Assets Price Index (IPAI) decreased by 2.4% quarter-on-quarter and 0.4% year-on-year. A substantial drop in transactions was also recorded, with a decrease of 40.2%. This marks a record decline in property sales activity within the country. The report indicates a weakening demand and potential challenges for the sector in the coming months. Further details regarding the specific regions affected and the types of properties experiencing the most significant declines were not immediately available. This downturn could have broader economic implications, given the real estate sector’s contribution to Morocco’s GDP.