Morocco’s Housing Aid Program Sees Low Uptake in Northern Regions

By region, Fès-Meknès, Casablanca-Settat and Rabat-Salé-Kénitra are at the top of the housing aid beneficiaries. Fès, Berrechid, Kénitra and Grand Casablanca are among the top five prefectures and provinces benefiting from this aid, said Fatima Zahra-Mansouri, adding that 41% of the beneficiaries have acquired a home worth less than or equal to 300,000 dirhams.

These data reveal the low participation of the Tanger-Tétouan-Al Hoceima region in the housing aid program. Sources explain this situation by the scarcity of homes worth less than 300,000 dirhams. In Tangier for example, apartments that cost 250,000 dirhams are now sold for 350,000 dirhams and more, which reduces the amount of aid.

In their latest joint report, Bank Al-Maghrib and the National Agency for Land Conservation, Cadastre and Cartography confirmed the stability of real estate prices in Tangier in the first quarter of 2024, compared to Rabat and Casablanca where prices increased by 1% and 0.4% respectively, and decreased by 0.2% in Marrakech.

The direct housing aid program was launched by the government at the beginning of this year. It supports first-time buyers with financial assistance of up to 100,000 dirhams for a home worth less than 300,000 dirhams, and 70,000 dirhams for a home worth between 300,000 and 700,000 dirhams.