Morocco has probably experienced a real estate bubble in the housing market during the past decade (2004/2013). This bubble was fueled by the availability of housing loans that has maintained a speculative movement by facilitating the financing of housing acquisitions. The euphoria continued until late of 2009 when banks triggered the bursting of the bubble by tightening financing conditions of the real estate supply (Real estate developer loans). Fortunately, this tightening has not affected the demand (housing loans), which allowed, thanks to ‘reserves’ of creditworthy households wishing to acquire a house, to absorb over-investment and stabilize the market. However, it seems that thes
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