Mortgage market suffers as tight liquidity persists
Watumishi Housing Company’s low-cost houses at Gezaulole in Dar es Salaam. Tanzania’s mortgage market shrank by 2.8 per cent during the second quarter of 2018, according to a recent report. PHOTO | FILE
What you need to know:
In the first quarter of 2018, the mortgage market declined by one per cent and in the second quarter the market extended the decline to 2.8 per cent.
The mortgage lenders had increased from 3 in 2009 to 31 on June 30, 2018 but the market is dominated by five banks which command 59 per cent of the outstanding debt.
