The mortgage market in Tanzania registered a 1.70 percent growth in the value of residential mortgages from TZS 614.57bn recorded on 31 March 2024 to TZS 625.00bn1 as of 30 June 2024. On a year-to-year comparison, 6.91 percent growth was registered in value of mortgage loans as of 30 June 2024 (TZS 584.59bn: Q2 2023 vs. TZS 625.00bn: Q2 2024).

The number of banks and financial institutions reporting to have mortgage portfolios stood at 31 as of 30 June 2024.

Overall average mortgage debt size as of 30 June 2024 was TZS 104.80 million equivalent to US$ 39,2862 compared to TZS 102.21 million equivalent to US$ 38,315 reported on previous quarter.

The ratio of outstanding mortgage debt to Gross Domestic Product (GDP) stood at 0.38 percent similar to the previous quarter.

Mortgage debt advanced by the top 5 Primary Mortgage Lenders (PMLs) accounted for 64 percent of the total outstanding mortgage debt.