Moroccan Expats Fuel Housing Boom as Government Aid Program Gains Traction

The enthusiasm of Moroccans around the world for the direct housing assistance program has not waned since its official launch in January. According to the latest official data provided by the Ministry of Territorial Planning, Urbanism, Housing and City Policy, Moroccans abroad represent 21% of applications and 23% of beneficiaries.

The success of the housing assistance program among MREs shows the sustained interest of the latter in real estate in Morocco. To encourage them to invest more in this sector, the ministry has launched a national campaign to inform them of the latest projects and programs in the field of urban planning and housing. "During this national campaign, we are mobilized to listen to the MREs and offer them personalized support and technical and administrative assistance in order to accelerate the processing of their files as soon as possible and under the best conditions," said Fatima Ezzahra El Mansouri.

The ministry "also aims to raise awareness among the diaspora about the multiple benefits offered by the Royal Program of direct housing assistance "Daam Sakane" and the investment opportunities in order to further strengthen the attachment of Moroccans abroad to the motherland," added the minister, recalling the activities planned as part of this campaign. These include the organization of a mobile caravan that will travel to 23 cities, the installation of reception areas at border crossings, in strategic rest areas and in the four high-speed train (TGV) stations, the organization of open house days at the level of the Urban Agencies and the Al Omrane companies. Permanent offices will also be provided to provide continuous assistance to MREs.

The massive investment of MREs in residential real estate will certainly contribute to boosting this sector, which has been severely affected by the Covid-19 crisis. This trend is notably explained by the reduction to 2.75% of mortgage rates, decided at the end of June by the Bank Al-Maghrib Council.