Tanzania’s Mortgage Market Tops TZS 720 Billion
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Tanzania’s mortgage market grew nearly 11% year-on-year despite relatively high lending rates. Rising housing demand and steady economic growth are helping drive expansion across the sector.
Tanzania’s residential mortgage market continued its upward trajectory in the third quarter of 2025, with outstanding mortgage loans reaching TZS 720.81 billion, according to data from the Tanzania Mortgage Refinance Company (TMRC). The figure represents a 3.8% increase from the previous quarter and a 10.9% rise compared to the same period in 2024.
The growth reflects sustained demand for housing, supported by economic expansion, population growth, and ongoing efforts to improve access to affordable homes. Mortgage activity was reported by 29 financial institutions, while the country’s largest lenders continued to dominate the market. Despite interest rates ranging between 15% and 19%, mortgage penetration is gradually increasing as housing demand accelerates across Tanzania.
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