Moroccan Housing Market Stagnates as Mortgage Growth Slows

At the heart of this problem, the evolution of mortgage loans is revealing. According to data analyzed by La Vie Éco, their outstanding amount stands at 301 billion dirhams at the end of April, a minimal growth of 0.3% since the beginning of the year. The growth of these loans is also clearly slowing down compared to previous years.

Housing loans, which account for nearly 80% of the total outstanding amount, or 240 billion dirhams, are no exception. After an exceptional increase of 4.7% in 2021, their evolution is slowing down considerably, going from 5.7% in 2018 to only 0.5% at the end of April of this year. A trend that suggests a brake on the dynamics of the real estate market.

Similarly, loans allocated to real estate developers show a very sharp decline. The outstanding amount has fallen to 52.3 billion dirhams, down 5% since January. A decline which, according to La Vie Éco, testifies to the fragility of the sector as a whole, despite the many construction sites underway in the kingdom.