Already in difficulty, the real estate sector has become more fragile with the advent of the health crisis. Despite the resumption of activities, the sector is struggling to get its head out of the water, pushing actors to call for an urgent rescue plan.
Already plagued by cash flow problems, operators had to deal with the combined effect of the total shutdown of worksites and the deterioration in the purchasing power of households, explains Morocco Today. The health crisis only further widened the deficit that developers had to face.
The daily explains that the market has suffered a hard blow in the current context and that the pandemic has upset the investment plans of developers and limit the performance of the sector. It should be noted that the sector was already suffering long before the pandemic, indicates the newspaper, recalling that the sector employs no less than a million people and contributes 14% to the national GDP.
“At the start of the state of a health emergency, the market suffered freeze inactivity. The sites have been brought to a complete halt. Sales for their part were blocked for months, severely impacting the cash flow of professionals. Ancillary activities, such as notarial and administrative services, we’re also on hold. Admittedly, the promoters were in difficulty, but they were at no time discouraged to revitalize the sector and ensure a good start.”
Today, and despite our efforts, the recovery is still not forthcoming. The upward indicators observed at distinct levels in the sector since the lifting of restrictions do not show a real recovery, given the threat of a new pandemic wave, causing market participants to fear great uncertainty.
