Detailed explanation
Market Value (MV) is the fundamental basis of value under RICS Red Book and IVS. It represents the price an asset would likely achieve on the open market, assuming: a willing buyer, a willing seller, arm's-length transaction, proper marketing, knowledgeable parties acting prudently, and no compulsion. MV is the most commonly requested basis of value in Morocco — used for bank mortgages, transactions, tax filings and dispute resolution. It differs from Investment Value (specific to one investor) and Fair Value (IFRS 13, market participant perspective). Moroccan banks require MV for all mortgage collateral assessments.
Moroccan example
An apartment in Casablanca Maarif is valued at MV = 2.8 M MAD based on 5 comparable transactions in the same building over the last 12 months.
Related terms
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