The mortgage market in Tanzania registered a 2.54 percent growth in the value of mortgage loans as of 30 September 2022 as compared to the 1.24 percent growth recorded in the previous quarter. On a year-to-year comparison, 7.01% growth was registered in value of mortgage loans as of 30 September 2022.
There was no new entrant into the mortgage market during the quarter. The number of banks reporting to have mortgage portfolios declined to 32 banks as of 30 September 2022 compared to 33 banks reported in the previous quarter following acquisition of First National Bank Tanzania Limited by Exim Bank Tanzania Limited.
Outstanding mortgage debt as of 30 September 2022 increased to TZS 522.95 billion1 equivalent to US$ 225.46 million as compared to TZS 509.99 billion2 equivalent to US$ 220.23 million reported on 30 June 2022.