This quarterly report prepared by the the Bank of Tanzania and Tanzania Mortgage Refinance Company Ltd. focuses specifically on the mortgage market in Tanzania for the forth (Q4) quarter of 2017. The report looks at the trends in the market from the previous quarter and in general. A key highlight of the report is that there are 31 institutions offering mortgages with an overall growth of 6 percent for the year 2017, much lower than the previous year (16%) and lower than GDP growth in Tanzania.
A key challenge is the high interest rates offered (between 16 – 19%) and low supply of affordable mortgageable housing. Outstanding mortgage debt stood at US$153.87 million as at December 2017. The report provides more detail on these aspects and more.
The Centre for Affordable Housing Finance in Africa (CAHF) has accessed this document from the TMRC in Tanzania. We are happy to receive any comments or questions, and pass these on.