Détails Blog

To purchase housing, many Moroccans turn to mortgages to finance the purchase of real estate. Banks are currently offering attractive offers that encourage future buyers to invest in real estate. Very low rates, postponement, unconditional loans, low monthly payments ... now banks offer very attractive packages according to the needs and the file of each. Unsurprisingly, unpaid bank loans rose 4.2% year on year, according to Bank Al-Maghrib (BAM).

In ten years, mortgage loans have increased significantly. In 2009, outstanding home loans amounted to 109,820 million dirhams, against 273.38 billion dirhams at the end of May 2019. This increase can be explained by more than 50% for several reasons, including very high rates. attractive offered by banks. Indeed, mortgage rates have reached unprecedented levels in Morocco. A banking institution offers up to 4.20% without calculating the added value of a mortgage loan repayable for a period of 7 years, excluding additional costs. According to the broker Meilleurtaux.ma, the best fixed interest rate currently offered on the market is between 4.20 and 4.50 for a period of 25 years.

Although these rates are by far the best offered by MENA banks, the mortgage interest rate is offered at much lower interest rates in Europe. In France for example, according to the broker Meilleurtaux.com, the best rate is 0.75% over a period of 15 years. However, it should be noted that the main percentage in these countries is 0% against 2.25% in Morocco.

In parallel with the usual mortgage loans from banks, participatory (Islamic) banks have experienced a significant increase in mortgage loans, reaching 5.86 million dirhams at the end of May 2019 against 4.04 million dirhams at the end of 2018.

This major development is not only linked to mortgage loans, but also to construction loans, the lending rate having increased by 2.1% at the end of May 2019. On the other hand, consumer loans went from 5, 2% to 4.8% at the end of May.

The decline in bank liquidity and the increase in the percentage of Treasury loans on the Moroccan market led to a slight increase in the prices of Treasury bills. For diversified funding, the country is using funds from outside Europe and others this year. The table below shows the evolution of bond prices, which reached 2.43% at the end of 2018.

It should be noted that if you want to get an interest rate that suits you, you must make an overview of all the available banking establishments and find out about the offers they offer, or use one specialized companies looking for the best offers for you to finance your real estate project. On the other hand, it is better to wait before signing a contract promising to sell that you have prepared all the papers and documents required by the bank to grant you the loan, which is represented in (recent original bank statements or a stamped statement from the bank, the presentation of a monthly salary certificate or an operating certificate, and in the case of The client is retired and he must present a pension certificate.