A study of 2 suburban districts of Casablanca, Morocco is believed to be a first comparison “Match” between Bouskoura and Darbouazza as recently undertaken by JUMIA House.
A report in French of the real estate analysis with graphics (see below) and comparative results was realised by Ranya S. Alaoui, Head of Communications & PR, Phone MA:0664604708, Skype ranya_alaoui, firstname.lastname@example.org and released to the press together with a market analysis of JUMIA House General Manager Mr. Clément Tesconi on February 21st, 2017.
Here are below some excerpts of the report titled :
JUMIA House publishes a first comparison “Match” between Bouskoura and Darbouazza.
The main results of the study (see graphics and press release for more details) are in a nutshell :
More expensive purchase at Dar Bouazza than in Bouskoura;
Trends are reversed for renting, Bouskoura is more expensive;
According to our surveys, these two suburbs considered as “chic” are popular with people who want to get away from the city and invest in safe and more affordable real estate than those ‘premium’ neighbourhoods in Casablanca.
Why did we choose this subject? The craze
JUMIA House wishes to put its expertise for the benefit of the Casablancan following the high-level of interest found within the platform.
Invest in Dar Bouazza or Bouskoura when trying to move away from the center of Casablanca? Rent or buy? And at what price?
- Is it really cheaper than at the Center?
- What is rather more expensive? How to decide?
- A lot of Casablancans, whether couples, heads of families, or young single professionals who wish to settle only, are debating and / or considering their options.
In any case, it’s a topic that comes up in family meals, discussions of couples, or trips with friends.
Where do we get these figures?
The study was conducted on a representative sample of the population of Casablanca and is based on figures taken from our analytical expertise. This “match” proposes to offer to those wishing to invest in one or other of these posh suburbs an accurate and reliable comparison between the products and services available in the region. JUMIA House notes that prices are based on products marketed by estate agents, and that affordable homes are excluded from the study. For the sake of credibility, these prices were discussed with 6 agencies specializing in this segment.
JUMIA House, a subsidiary of the JUMIA Group, and whose vocation is to propose some relationship between supply and demand in real estate products, led the first comparative study in Morocco between Dar Bouazza and Bouskoura following the high-level of interest for either of these 2 districts of our platform. This study is intended for all those considering their settling in one or the other of these posh suburbs, be it under a lease or a purchase.
With this, JUMIA House wishes today to communicate to its customers some of its understanding of these markets.
JUMIA House notes that prices are based on products as currently marketed by estate agents and search of real estate in these districts continue to grow whereas some other neighbourhoods of Casablanca do stagnate (Maarif, Gauthier) or even decline (Racine, Bourgogne). As a result, JUMIA House wishes to propose to people currently in active research several items so as to allowing them to compare on several criteria such as price, facilities available, or above all accessibility.
Although the price of rent of the average square metre is higher at Dar Bouazza than that at Bouskoura, the trend is reversed if compared to the purchase price of the same square meter. According to several surveys made by JUMIA House, these two suburbs considered “chic” are mainly popular with people wishing to get away from the town centre through investment in estates in its nearest suburban developments. This was substantiated by surveys, conducted on a sample of 804 people resident in Casablanca, that showed that the urban ultras would be ready to move away from the present downtown in order to avoid the transport time inherent to their way of life (62% of respondents said they wish to leave the city center of Casablanca).
To invest in Dar Bouazza or Bouskoura would also enable them to avoid the already dense towncentre, since these two areas not only semi-detached or detached villas with land plots are offered but also studios, apartments or even duplexes in most importantly less dense environments. The two districts also offer at their respective centres recreational facilities but still near residences, as well as facilities in continuous improvement. Half of our sample appreciate Dar Bouazza as a more appropriate choice for investors than Bouskoura, although two-thirds (68%) say they currently lack information to wisely make their decisions.
Through this study, JUMIA House aims therefore to answer certain questions.
Purchase : Dar Bouazza more expensive than Bouskoura a comparison of the price of the purchase by the square meter shows that apartments are more expensive in Dar Bouazza, whereas prices are established in MAD9,379 per square meter, that in Bouskoura, which is around MAD5,341/m². Prices for the villas lie as well around MAD14,252/m² at Dar Bouazza against MAD13,067/m² at Bouksoura. The price of real estate in these posh suburbs is considerably less than premium downtown neighbourhoods that may exceed for apartments MAD19,000 in Gauthier, or even MAD20,000 in Racine per meter square.
Renting : the trends are inversed as unlike buying, the average rent per square meter of apartments in Bouskoura is more expensive than in Dar Bouazza, which at MAD75/m², a 100 m² apartment is trading around MAD7,000 against MAD67/m² at Dar Bouazza in Premium Gauthier or Racine neighbourhoods are at around MAD100/m²).
Moreover, the average rent per square metre of the villas at Bouskoura costs MAD51/m² against MAD39/m² at Dar Bouazza. This can easily be explained by a more abundant supply in Dar Bouazza, stretching along the coast, but also by the preponderance of designer houses in Bouskoura, rarer in Dar Bouazza, where new real estate represents a very large part of the supply.
Bouskoura vs. Dar Bouazza: Green Life vs Beach Life.
Two styles of life; in recent years, Dar Bouazza and Bouskoura have emerged as of the most popular destinations in Casablanca. Located respectively at 21 and 22 kilometres from Casablanca town centre, these two districts offer a quieter and more secure environment than that of the economic capital.
Bouskoura is ideally located at the edge of a 3,000 hectares wooded area that is ideal for a Sunday walk. Dar Bouazza, on the Atlantic with its 10 km of coastal road stretch has a resort and an aquatic Center.
The analysis of Clement Tesconi, GM, found that :
“The real estate sector has been “sluggish” and after the recent flat patch, we now are seeing a mutation in demand and supply.
Demand dropped in the town centre neighbourhoods in full gentrification as Casablanca urban supply, at least in its inner parts is gradually moving now towards exclusive high-quality range, preventing access to property for a large part of the population.
Land, that is increasingly sought by professionals and the development of Casablanca as a major economic centre and among other things through Casa Finance City, tend help accelerate this transformation.
Dar Bouazza, a golden spot and already fairly well served and Bouskoura, with the near completion of the cable car of Sidi Maarouf, whose first phase should be completed before the end of year 2017, would lead to believe that these two posh suburbs have many years of prosperity real estate ahead of them!”
JUMIA House Morocco is an international real estate portal dedicated exclusively to emerging countries. The platform allows users to buy, rent and sell with ease and in safety. JUMIA House was launched in January 2014, and offers more than 50,000 ads in Morocco. JUMIA House, part of JUMIA Group, is African first group website.
NB : the average income in Casablanca stands at MAD6,000 net for workers affiliated to the CNSS, and MAD11,000 for those CIMR affiliated employees, although these average wages do not reflect the reality of the informal sector wages.