The mortgage market in Tanzania registered a 4.0 percent growth in the value of residential mortgages from TZS 625.00bn recorded on 30 June 2024 to TZS 649.85bn1 as of 30 September 2024. On a year-to-year comparison, 9.4 percent growth was registered in value of mortgage loans as of 30 September 2024 (TZS 593.76bn: Q3 2023 vs. TZS 649.85bn: Q3 2024).

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

Overall average mortgage debt size as of 30 September 2024 was TZS 111.05 million equivalent to US$ 40,6472 compared to TZS 104.80 million equivalent to US$ 38,358 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 62 percent of the total outstanding mortgage debt.