• The mortgage market in Tanzania registered a 1.5 percent growth in the value of residential mortgages from TZS 649.85bn recorded on 30 September 2024 to TZS 659.30bn1 as of 31 December 2024. On a year-to-year comparison, 12.3 percent growth was registered in value of mortgage loans as of 31 December 2024 (TZS 587.24bn: Q4 2023 vs. TZS 659.30bn: Q4 2024).
  • The number of banks and financial institutions reporting to have mortgage portfolios stood at 31 as of 31 December 2024.
  • Overall average mortgage debt size as of 31 December 2024 was TZS 114.78 million equivalent to US$ 47,6932 compared to TZS 111.05 million equivalent to US$ 46,141 reported on previous quarter.
  • The ratio of outstanding mortgage debt to Gross Domestic Product (GDP) stood at 0.40 percent compared to the previous quarter 0.38 percent.
  • Mortgage debt advanced by the top 5 Primary Mortgage Lenders (PMLs) accounted for 62 percent of the total outstanding mortgage debt.