2023-11-07 13:30:49
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No big surprises under the October sky. Real estate loan rates remain stable at 4.75% over 25 years for solid borrowers. For several months, the rate table of the partners of Afdal.ma, the online real estate loan comparator, has not undergone any real changes. This stability is largely due to the unchanged policy rate and slowing inflation, which benefits borrowers.
If you have in mind a loan of 500,000 DH over 15 years, you can benefit from rates as low as 4.50%. For a longer duration of 16 to 25 years, the rate is 4.75%. Things have not changed on the banks’ side for high quality goods, i.e. those worth more than one million DH. In a relatively calm market, banks are fighting to offer attractive rates to strong borrowers.
As Bank-Al Maghrib’s latest advice approaches in December, a change in benchmark rates is unlikely to be on the horizon. More generally, access to real estate credit should become more flexible, particularly for low-income households thanks to the housing assistance program.
This system, extended over the period 2024-2028, provides direct financial assistance for buyers. Housing worth less than or equal to 300,000 DH will benefit from aid of 100,000 DH, while for properties between 300,000 DH and 700,000 DH, the aid will reach 70,000 DH. This allowance aims to make homeownership more affordable for first-time buyers.
With a larger initial contribution, borrowers could well benefit from even more competitive conditions next year. So, under the gray of October, the future looks promising for those who dream of becoming owners.
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