Morocco Delays Decision on New Housing Subsidies for First-Time Buyers

This text aims to determine the various forms of housing assistance as well as the procedures for their allocation to first-time buyers, reports Al Ahdath Al Maghribia, specifying that this decree will allow the implementation of the regulatory procedures provided for in Article 8 of the 2023 Finance Act.

According to Article 2 of this decree, buyers of a dwelling worth more than 300,000 dirhams and less than 700,000 dirhams will receive a subsidy of 50,000 dirhams. The same article also provides for a subsidy of 70,000 dirhams for buyers of a dwelling worth less than 300,000 dirhams.

Any person wishing to benefit from this state aid must apply for it via an electronic platform, according to a model developed by the housing authority, stipulates Article 3 of the text. Before the conclusion of a preliminary agreement, the buyer will also have to meet the conditions set by Article 8 of the 2023 Finance Act within 7 days of the date of filing his application.

Article 4 of the decree provides that the notary must deposit on a dedicated electronic platform, within 7 days, a copy of the sales agreement as well as a copy of the occupancy permit. It is only after this entire procedure that the financial aid will be granted by check or bank transfer to the notary within 15 days of the date of filing the required documents.