Can foreigners get a mortgage in Morocco?

Key facts

• Home loans to households averaged 4.53% in Q2 2026, down from 4.66% in Q1; the 5.06% often quoted covers all real-estate lending, including developer loans (Bank Al-Maghrib).
• Since 1 January 2026, banks may lend non-resident foreigners and Moroccans living abroad dirhams for up to 80% of a property's price, with the rest paid in foreign currency (IGOC 2026).
• The policy rate has been 2.25% since 20 March 2025 and was held for a sixth consecutive meeting on 22 September 2026 (Bank Al-Maghrib).
• The legal maximum lending rate is 13.21% from 1 April 2026 to 31 March 2027 (Bank Al-Maghrib).
• Crédit du Maroc's Sakane home loan is offered to any individual buying or building a first or second home, over up to 25 years, at a fixed or capped-variable rate (Crédit du Maroc).
• Islamic home purchases by Mourabaha, Ijara or Moucharaka pay the same 4% registration duty as a conventional purchase (CGI 2026).
• Property financed in foreign currency or convertible dirhams carries a guaranteed right to transfer sale proceeds and gains abroad (Office des Changes, IGOC 2026).

Can foreigners get a mortgage in Morocco?

Yes, in principle. Nothing in the sources we reviewed bars a foreign buyer from borrowing from a Moroccan bank, and Crédit du Maroc's Sakane loan, for example, is offered to any individual (toute personne physique) buying or building a first or second home. In practice, each bank decides whom it lends to, and your residency, the currency of your income and the property all weigh on the answer.

The property must have a registered Titre Foncier, because the bank records its mortgage on the title. Melkia property, the unregistered traditional ownership common in old medinas, cannot be mortgaged (see Titre Foncier vs melkia).

How much can non-residents, residents and MREs borrow?

Non-residents can borrow up to 80% of the price. Since 1 January 2026, exchange rules cap dirham property loans to non-resident foreigners and MREs at that level, with the rest paid in foreign currency (IGOC 2026, Arts. 201-202). We found no published limit for foreign residents.

Non-resident foreigners must also sign a declaration on honour that they own no residence in Morocco, and their loan goes into a dirham 'special account' closed to transfers abroad; MREs are exempt from both (Arts. 202-203). Within these rules, what sets the amount:

• The bank's valuation: banks lend on their own expert valuation, which can come in below the agreed price, according to ReaConsult, a Casablanca valuation firm.
• Affordability: an exceeded debt ratio (taux d'endettement) is a common reason for refusal, according to ReaConsult; we found no published standard ceiling, so ask each lender for its limit.
• Residency and income: a non-resident must document income earned abroad; ask how each bank treats it.
• MRE status: ask whether the bank has a dedicated offer for Moroccans living abroad, and compare it with the general one (see buying as an MRE).

Keep enough of your own money to cover any gap between valuation and price, plus purchase costs of about 7% in taxes and fees, or about 10% with an agency commission (buying costs).

What are mortgage rates in Morocco in 2026?

About 4.5% on average for households. Bank Al-Maghrib's quarterly survey puts the average rate on home loans to individuals at 4.53% in Q2 2026, down from 4.66% in Q1 and 4.67% in Q4 2025.

The 5.06% often quoted for the same quarter is the average for all real-estate loans, including loans to developers at 5.35%, so it overstates what a household pays.

The backdrop is stable. The policy rate has been 2.25% since March 2025 and was held on 22 September 2026, with inflation forecast at 0.7% for 2026 (Bank Al-Maghrib). The legal ceiling is 13.21% until 31 March 2027. Your own rate depends on the bank, the term, your deposit and whether you fix.

Illustration (our calculation, not a quote): MAD 1.5 million (about EUR 139,000) over 20 years at 4.53% costs about MAD 9,500 a month and MAD 783,000 in interest; over 25 years, about MAD 8,360 a month and MAD 1.0 million in interest.

Loan terms, fees and protections

Terms of up to 27 years are available: Crédit du Maroc's Sakane loan runs up to 25 years, with a choice of fixed or capped-variable rates, and Bank of Africa's Salaf Dari loan for MREs up to 27 years. Maximum terms for non-residents and older borrowers are set bank by bank.

Consumer law 31-08 gives you a 10-day reflection period before you accept a loan offer. Each bank sets its own document list; expect proof of identity, income and existing debts, plus the sale agreement and the property's title number.

Registering the mortgage costs a land-registry fee of 1.5% of the loan for amounts between MAD 250,001 and MAD 5 million (0.5% below and above that range), plus MAD 100 per property; releasing it later costs MAD 500 (ANCFCC).

Interest also counts when you sell: loan interest, or the margin on Islamic finance, is added to your cost base when capital gains tax is calculated (capital gains and rental income tax).

Currency rules: borrowing in dirhams, repaying from abroad

Under the foreign-exchange instruction in force since 1 January 2026 (IGOC 2026), property bought with foreign currency or convertible dirhams carries a guaranteed right to transfer rental income, sale proceeds, capital gains and inheritance proceeds abroad (Arts. 160 and 171-173).

For non-resident borrowers, including MREs, Article 203 sets a separate rule: on resale, banks may transfer the net proceeds up to the initial foreign-currency contribution, plus principal repaid in foreign currency or from a convertible dirham account, plus any gain. Repayments must also come from abroad or a convertible account (Art. 202). Keep the bank's settlement documents for the deposit and each repayment (repatriating funds).

A dirham loan also carries currency risk for euro or sterling earners. The dirham is pegged to a basket of 60% euro and 40% dollar within a ±5% band, so moves against the euro are limited but real; a euro bought about 10.8 to 10.9 dirhams in September 2026.

Islamic (participative) home finance

Islamic home finance uses three contracts named in the tax code: Mourabaha (the bank buys the property and resells it to you at a disclosed margin, paid in instalments), Ijara Mountahia Bitamlik (a lease ending in ownership) and Moucharaka Moutanakissa (diminishing co-ownership).

Tax treatment is aligned with a conventional loan: the purchase pays the same 4% registration duty, and the margin or rent is deductible when capital gains tax is calculated (CGI 2026). For a Mourabaha under banking Law 103-12, the land registry charges a fixed MAD 1,000 per property for the bank's resale to you (ANCFCC). We could not verify which providers finance non-residents, so ask directly.

Alternatives: borrowing at home or buying without a loan

The common alternative is to borrow where you earn, for example by releasing equity from or remortgaging a home in France, Belgium, the Netherlands or the UK. The debt stays in your income currency, and wiring the money in foreign currency brings the whole price under the transfer guarantee. The trade-off is putting your main home on the line, under your home lender's rules.

Buying without a loan means your own funds by bank transfer, not banknotes. For deeds from 1 July 2026, sales above MAD 300,000 pay an extra 2% registration duty on any part of the price paid in cash, and cash leaves no record to repatriate against.

This is general information: confirm loan terms with the bank, and legal and tax points with a notaire or tax adviser.

Sources

• Bank Al-Maghrib: Taux débiteurs (enquête trimestrielle, T2 2026)
• Bank Al-Maghrib: Indicateurs hebdomadaires, semaine du 13 au 19 août 2026
• Bank Al-Maghrib: Taux maximum des intérêts conventionnels
• Le Matin: Bank Al-Maghrib maintient son taux directeur à 2,25%
• Crédit du Maroc: Crédit immobilier Sakane
• Office des Changes: Instruction Générale des Opérations de Change 2026 (Arts. 160, 171-173 and 201-203)
• Bank of Africa: Salaf Dari
• Direction Générale des Impôts (copy hosted by Upsilon Consulting): Code Général des Impôts, édition 2026
• ANCFCC: Tarif des droits de conservation foncière
• ReaConsult: Crédit immobilier refusé après expertise : que faire ?