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- With Tanzania’s urbanization on the rise, the need for affordable housing finance is increasing.
- High-interest rates and lack of affordable housing remain the prime constraints facing Tanzania’s mortgage market.
- There are 32 banks offering mortgage facilities, down from 33 following acquisition of First National Bank Tanzania Ltd by Exim Bank Tanzania Ltd.
In the sun-soaked expanses of Tanzania, a housing revolution is unfurling, led by an unlikely conductor: interest rates. The symphony of change echoes the crescendo of demands for affordable housing, reverberating from the National Housing Corporation (NHC).
With Tanzania’s urbanization quickening its pulse, the need for housing finance surges alongside the ascent of metropolitan dreams.
In a nation where growth is as tangible as the earth beneath, the NHC’s data reveals an urgent anthem: a staggering demand for three million housing units, sprouting at a rate of 200,000 annually. This wave is in sync with the rapid urbanization …
