Morocco Unveils $10,000 Housing Subsidy to Boost Real Estate Market

The new housing assistance program launched by King Mohammed VI will have a positive impact on the kingdom’s real estate market, with an expected recovery in transactions, it is predicted. This program aims to renew the approach to home ownership, by supplementing the purchasing power of households, through direct financial assistance to buyers. The amount of direct aid to buyers is set at 100,000 dirhams for the acquisition of a property 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 property whose price is between 300,000 and 700,000 dirhams including tax, the proposed aid will be 70,000 dirhams. Other benefits for buyers of these properties: stable interest rates, which have not changed since March 2023, and attractive financing options encouraging home purchases.

This new program will be in effect until 2028. Only Moroccans residing in Morocco or abroad, with medium incomes, who are not homeowners in Morocco and who have never benefited from housing assistance, will be the beneficiaries of the aid. Registrations started on January 1st. After this step, the registrants received a response from the department of Fatima Ezzahra El Mansouri, within 7 days, informing them of their eligibility or not for the program.