Housing Investment Landscapes: North Africa Regional Report

This report forms part of the African Housing Investment Landscape Programme with a focus on the housing investment landscape in the North Africa region. The countries in the North African region are part of multiple regions and economic treaties. As part of the Middle East North Africa (MENA) region, the area stretches across cultures and continents. They are also part of the Arab Maghreb Union (AMU), and the Common Market for Eastern and Southern Africa (COMESA). The countries in North Africa avail themselves of various funding and capital investment streams, including from the Gulf States, the Mediterranean, and Sub-Saharan Africa.

Since the Arab Spring in 2011, North African economies have generally undergone a number of liberal reforms and have some of the larger economies on the continent. Some countries in North Africa have made significant leaps in areas such as education and public sector reform, but several threats remain to long-term sustainable growth, with impacts on housing investment. Morocco and Tunisia both have mature mortgage and housing finance markets and represent some positive opportunities for investment. These two countries were already seeing successes before 2011. Housing is a crucial part of the region’s various urban contexts.

The following is a brief, descriptive overview of the investment landscape for housing in North Africa and should not be considered an exhaustive account.