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Market Context

IPAI

Indice des Prix des Actifs Immobiliers — the official Moroccan real estate price index published quarterly by Bank Al-Maghrib and ANCFCC.

Detailed explanation

IPAI is the only reliable long-run national benchmark for Moroccan property. Launched with back-data from 2006 (base 100 = 2010), it aggregates all formally registered urban transactions and provides segment-level data (residential, land, professional) plus city-level breakdowns for the 8 main Moroccan cities. It informs central bank policy, bank underwriting, and RICS valuers choosing comparable trend data. 2025 YoY growth: residential +1.8%, land +2.3%, professional +1.2%.

Moroccan example

A Casablanca valuer uses IPAI Anfa residential data to inflate 2022 comparable transactions to current 2026 levels (adjustment coefficient ~1.09).

Related terms

Market Value (MV)Capitalisation Rate (Cap Rate)

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