The mortgage market in Tanzania registered a 2 percent growth in the value of residential mortgages as of as compared to 6 percent growth recorded in the previous quarter to 30 June
2023. The market registered a 14 percent year-on-year growth from TZS 522.95bn (Q3:2022) to TZS 593.76bn (Q3:2023).

There was no new entrant into the mortgage market during the quarter. The number of banks reporting to have mortgage portfolios remained at 31 banks as of 30 September 2023.

Outstanding mortgage debt as of 30 September 2023 increased to TZS 593.76 billion1 equivalent to US$ 237.53 million as compared to TZS 584.59 billion2 equivalent to US$ 249.92
million reported on 30 June 2023.