Beruflich Dokumente
Kultur Dokumente
Much as actions to revive mortgage financing have started yielding positive results
including more banks venturing into mortgage financing, the sector still faces
some challenges which need to be addressed by the stakeholders. Among them
are
Introduction of VAT on sale of properties (which increases the cost of
acquiring a house significantly and make mortgage uneconomical)
High cost of transfer and delays in the process (which makes it difficult for
house owners to mortgage their houses)
Widespread land dispute;
Volatile macro economic environment which makes interest rates
unbearable
Low literacy levels which makes too risky to lend long term to people with
little knowledge of how mortgage financing works
Most of these challenges can be addressed if all stakeholders in the housing sector
work together to make mortgage financing in Tanzania grow and contribute
positively to the economy.
Ladies and Gentlemen,
We are very excited that SHELTER AFRIQUE has joined us and the other
shareholders/member banks in the quest to develop the mortgage market in
Tanzania. We believe that in a long run the availability of mortgages will have a
very positive impact on the availability of housing for more Tanzanians.
Thank you.
*******************************