During the year, mortgage market grew by TZS 105.8 billion. The total mortgage portfolio balances amongst banks stood at TZS 649.2 billion as at the end of the year 2023 representing 5,392 properties compared to TZS 543.4 billion outstanding balance for financing 5,823 properties that was reported in the previous year. 

This signifies an annual increase of 19.5% in outstanding value of Mortgage loans while a number of mortgages decreased by 7.9%. The above data indicates that mortgage market as percentage of Gross Domestic Product (GDP) increased to 0.36% from 0.32% recorded in 2022. This ratio is one of the lowest in the East African region.