The outstanding housing loans in Morocco have reached 244.3 billion dirhams (MMDH) by the end of March 2024, marking a 1.4% increase, according to the Directorate of Studies and Financial Forecasts (DEPF).

Driven by a 4.3% rise in loans for real estate development, the total outstanding real estate loans grew by 1.1% in the first quarter of 2024, amounting to 303.8 MMDH, as reported in the DEPF’s latest economic update.

In addition, following a decline in March 2024 due to heavy rainfall, cement sales, a key indicator of construction activity, rebounded in April 2024, registering a 21.1% increase.

This resurgence was evident across all delivery segments, notably distribution (+21.5%), ready-mix concrete (+14.4%), infrastructure (+60.2%), prefabricated components (+13.7%), and building materials (+4.3%). Over the first four months of 2024, cement sales volume increased by 3.5%, reversing an 8.5% decline from the same period last year.

By segment, significant positive performances were recorded in ready-mix concrete (+11.1%), infrastructure (+44.4%), and prefabricated components (+3.4%).

Morocco’s housing loan market shows robust growth, reflecting the country’s dynamic real estate sector and improved economic conditions. As construction activities pick up, the increased demand for housing loans highlights the sector’s potential for continued expansion and development.