MOROCCO MORTGAGE FOR NON-RESIDENT

MOROCCO REAL ESTATE FINANCING FOR FOREIGNER

In Morocco, a mortgage for non-residents is a home loan offered by Moroccan banks to foreign citizens who wish to buy property in the country without holding Moroccan residency.

This type of financing is designed to help international buyers invest in Moroccan real estate by covering part of the property price while the buyer contributes a significant down payment.

Many non-resident foreigners do buy real estate in Morocco, especially in urban and tourist-focused areas like Marrakech, Casablanca, and Tangier as these cities are particularly attractive due to investor-friendly laws, strong rental markets, and the ability to own property outright—even without residence—apart from agricultural land restrictions.

What are the conditions in Morocco for obtaining a mortgage for non-resident ?

Summary of the conditions for non-residents to obtain a mortgage in Morocco, based on reputable sources:

1. Down Payment & Loan-to-Value (LTV) Requirements

Non-residents are typically required to make a significant down payment ranging from 30% to 50% of the property’s purchase price. Moroccan banks generally finance up to 50–70% of the property value, meaning non-residents must contribute at least 30–50% in equity.

2. Currency of Loan & Income Consideration

Mortgages are most commonly issued in Moroccan dirhams (MAD), offering lower interest rates (around 4–6%), though non-residents with stable foreign income may also qualify for loans in euros or dollars, albeit with stricter criteria and higher interest (approximately 5–7%).

3. Documentation & Guarantees

Applicants must provide comprehensive documentation such as a passport, proof of income (pay slips or audited accounts), bank statements, and a sales agreement. Additionally, banks often require a convertible dirham account and may demand that at least 30% of the property price be deposited in this account if the borrower has no Moroccan income.

4. Loan Terms & Insurance Requirements

Loan terms for non-residents extend up to approximately 15–20 years, depending on the borrower’s profile, and mandatory borrower insurance (such as life and property insurance) is typically required.