Complete guide to direct housing assistance : essential information

Launch of the Housing Assistance Program in 2024 : A New Era for First-Time Buyers

Scheduled to start on January 1, 2024, the new housing assistance program, targeting first-time buyers, is designed to provide significant financial support to many Moroccan families in purchasing their apartments. Here's a detailed overview of this innovative initiative.

On October 17, in the presence of King Mohammed VI, a cutting-edge housing assistance program was introduced. Going into effect on January 1, 2024, and extending over a five-year period, it offers a unique opportunity for Moroccans living both in Morocco and abroad, who do not own real estate and have never received housing assistance, to access state support for purchasing their apartment.

Varied Subsidies According to Housing Price : A Balanced Approach for Property Acquisition

The value of the housing acquired will determine the amounts of assistance. Thus, for housing whose sale price does not exceed 300,000 dirhams, a subsidy of 100,000 dirhams will be allocated, while aid of 70,000 dirhams will be granted for the purchase of housing whose price is between 300,000 and 700,000 dirhams.

Regarding the procedure, the buyer selects their apartment, retrieves a completion certificate, then submits their residence permit along with a copy of their national identity card on a digital platform specifically created by the Ministry of Housing. "Then, the buyer goes to the notary to prepare the sales agreement, and the process is completed with the bank," our source explains.

However, Mohamed Dahbi, vice-president of the National Union of Small Real Estate Developers, highlights some potential difficulties, notably the lack of commitment from real estate developers and banks. He explains that, unlike the previous social housing program, the citizen chooses their housing and must obtain the residence permit quickly to then register on the ministry's platform and obtain a sales agreement from the notary.

Key Role of Banks and Developers : Challenges to Overcome for Program Success

The involvement of banks is crucial, as the processing of mortgage credit files usually takes between two and three months. Thus, for the success of this program, the processing of credit requests should not exceed 20 days, given that the buyer has only one month to finalize their purchase.

Simplification of Procedures : Digital Registration at the Heart of the Real Estate Purchase Process

During a press conference held on October 20 in Rabat, Fatima Ezzahra El Mansouri, Minister of National Territory Planning, Urbanism, Housing, and City Policy, expressed her optimism, stating that her department would manage the registration of buyers on the digital platform to simplify the legal procedure for accessing housing.

She also announced the creation of 12 regional agencies for urbanism and housing to support buyers and intervene in case of disputes, taking into account the specificities of urban and rural areas.

Those registered on the platform from January 1, 2024, and whose application is accepted will be able to benefit from an initial stock of 113,000 eligible housing units, a figure expected to increase by 10% each year, according to Fatima Ezzahra El Mansouri.