The Council of Ministers, which met today, Thursday, November 2, 2023, under the chairmanship of Mr. Aziz Akhannouch, Prime Minister, approved Decree No. 2.23.350, which sets forth the forms of state aid for housing support.
This decree aims to revitalize the approach to home ownership assistance and support families’ purchasing power through direct financial assistance to homebuyers. It will also help increase the housing supply and provide a strong boost to the housing sector, in addition to stimulating the private sector—particularly small and medium-sized construction firms—and creating job opportunities.
Direct financial assistance for buyers seeking to purchase a home for use as their primary residence has been set at 100,000 dirhams for homes priced at or below 300,000 dirhams, and 70,000 dirhams for the purchase of a home priced between 300,000 and 700,000 dirhams. It was noted that a decree has been drafted to this end, setting out the conditions and forms of direct support for families, which will come into effect on January 1, 2024.
With regard to the eligibility criteria for direct housing assistance, the decree specifies that applicants must be Moroccan citizens, must not own any residential property anywhere in the country, must not be receiving any other housing subsidy or benefit from the state, and must hold a housing permit effective as of January 1, 2023, in addition to a final sales contract signed before a notary public indicating the buyer’s commitment to use the residence as their primary residence for a period of 5 years from the date of conclusion of the final sales contract.
Sarah Al-Ramshi
