Morocco’s New Housing Aid Program Attracts Thousands, Including Expats

Great success for the new housing assistance program. The number of beneficiaries has reached 15,194, of which 20% are Moroccans residing abroad (MREs). These figures directly from the Ministry of National Territorial Development, Urban Planning, Housing and City Policy were communicated by Fatima Zahra Mansouri, holder of this portfolio, who was answering oral questions in the House of Advisors on Tuesday.

In total, more than 80,000 housing assistance applications have been registered nationwide, the minister points out, noting that this shows that the entire national map has benefited from this program, and that there are positive indicators showing the "success" of this royal project. From her explanations, it emerges that the housing assistance program has had a "positive" impact on the national economy, with a 21% increase in cement sales recorded this year, and a 1.4% increase in real estate loans to citizens. As for loans to real estate developers, they have increased by 4.2%.

Mansouri hails an "important and essential program." "[...] and for the first time, direct support is granted to demand and not to supply, which is a success in itself," she said, specifying that the support covers one third of the price and more. The amount of direct aid to buyers is set at 100,000 dirhams for the acquisition of a home whose selling price is less than or equal to 300,000 dirhams including tax. The state will cover one third of the value of the property. As for the acquisition of a home whose price is between 300,000 and 700,000 dirhams including tax, the proposed aid will be 70,000 dirhams.

Only Moroccans residing in Morocco or abroad, who are not homeowners in Morocco and who have never benefited from housing assistance, are the beneficiaries of the aid. This program also aims to reduce the deficit, stimulate the economic recovery and allow small and medium-sized enterprises excluded from previous programs to participate and also benefit, the minister also said, noting that 4,250,000 low-income Moroccans have been able to access housing since King Mohammed VI launched the first social housing project and that there has never been any question of supporting those who wish to build private houses on a plot of land. The objective of the project is not for citizens to build a private house at their convenience, but to do so within a specific and determined framework, the minister added.