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 third (Q3) quarter of 2016. 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 28 institutions offering mortgages and there are currently 2 981 mortgage accounts with an overall growth of 13 percent over the first three quarters in 2016. A key challenge is the low supply of affordable mortgageable housing, notwithstanding, the average mortgage debt size stood at US$ 62 020,92 in September 2016. Interest rates are also high between 16-19 percent. Tanzania has the smallest mortgage market in East Africa with mortgage debt to GDP at 0.44 percent as at September 2016. The report provides more detail on these aspects and more.
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