The direct housing assistance program, which will come into force on January 1, 2024, is expected to cost 9.5 billion dirhams ($ 920 Million) a year, Minister of National Territory Planning, Urbanism, Housing and City Policy, Fatima Zahra El Mansouri, said Friday in Rabat.
Speaking at a press conference on this program, El Mansouri noted that the forecasts, based on market production, of this new program which will spread over 2024-2028, cover 70,000 to 100,000 housing units.
Regarding the conditions of access to this program, the minister underlined the imperative of assigning the accommodation to the main residence of the purchaser for a period of five years, as well as obtaining the permit to live there as of January 1, 2023.
A press release by the Royal Office had said that this new program aims to renew the approach to home ownership assistance and help households’ purchasing power, through direct financial aid to the purchaser. Moroccans residing in Morocco or abroad, who are not property owners in Morocco and who have never benefited from housing assistance, are eligible.
The amount of assistance depends on the value of the property purchased. For example, the amount of assistance is set at 100,000 Dirhams for the acquisition of a home with a sale price of up to 300,000 Dirhams (including tax), and 70,000 Dirhams for the acquisition of a home costing between 300,000 Dirhams and 700,000 Dirhams (including tax).