Morocco’s Mortgage Market Surges: Housing Loans Up 6.1% in Early 2021

Bank Al-Maghrib noted a 3.6% increase in the outstanding amount of mortgage loans during the first four months of 2021. According to its latest statistics, 227.65 billion dirhams of mortgage loans were allocated at the end of April in the form of housing loans (+6.1%) including 12.83 billion dirhams of participatory financing (+50.9%), reports Aujourd’hui le Maroc. BAM also notes a 3.6% decrease in loans allocated to real estate developers, which stand at 54.57 billion dirhams, a loss of 2.05 billion dirhams.

As for equipment loans, they fell by 4% over the same period, reaching 180.05 billion dirhams, a contraction of 7.56 billion dirhams year-on-year. The same is true for consumer loans, which stood at 55.08 billion dirhams, a decrease of -1.3% compared to the same period in 2020.

However, the central bank notes a 2.9% increase in loans allocated to the non-financial sector, for an outstanding amount of 825.93 billion dirhams, and a 3.4% increase in the outstanding amount allocated to the private sector, which stood at 752.99 billion dirhams at the end of April. As for bank loans, they recorded a 2.9% year-on-year increase to reach 948.04 billion dirhams at the end of April 2021, an increase of 26.69 billion dirhams compared to the same period last year.