Tanzania mortgage market slows as housing demand rises
A street in Dar es Salaam. Tanzania’s population is set to grow more than two-fold by 2050, pushing the demand for affordable housing. FILE PHOTO | ANADOLU AGENCY
The growth of the mortgage market in Tanzania slowed in the second quarter of 2022 even as demand for decent housing continued to rise.
According to the central bank's latest update published on September 7 jointly with the Tanzania Mortgage Refinancing Company, the total value of mortgage loans grew by just 1.24 percent between April and June against 1.41 percent growth between January and March.
