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Source:
فبراير.كوم
Tangier Property Prices Double
The article reveals a sharp rise in real estate prices in Tangier over the past decade, with prices doubling from around 7,000 MAD per square meter in 2015 to nearly 18,000 MAD for mid-range housing, and reaching 60,000 MAD in upscale areas for luxury properties. This continuous increase does not reflect market crises but rather accelerates the rising cost of homeownership to levels that are difficult for young people and small investors to afford, creating severe economic and financial challenges. The market also suffers from the phenomenon of "Nawar" (under-the-table payments), which have increased from 20,000 MAD previously to between 100,000 and 150,000 MAD. This practice impacts tax revenues and exacerbates problems related to real estate financing. Experts have stressed the need to regulate rental prices, curb illegal practices, and provide financial or tax incentives to young couples, aiming to improve the stability of the housing market in the city. Despite its attractiveness due to tourism and industry, Tangier remains costly and in need of legal controls and regulations to ensure future market balance.
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