Written by 4:47 pm Economy

Applications officially open for Government housing aid program

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The Ministry of National Land Planning, Urban Development, Housing, and Urban Policy announced on Tuesday the launch of the registration process for the national housing aid program.

The digital platform https://daamsakane.ma/ has become “available to all Moroccan citizens residing in Morocco or abroad who are interested in owning a main residence in Morocco.”

It will enable citizens to submit registration applications, track the progress of their files, and request information about this program.

The platform “DAAM SAKANE” is also available for download on both Google and Apple app stores, featuring instructional videos for public guidance.

This program, managed by the National Retirement and Insurance Fund (CNRA) under the supervision of the Deposit and Management Fund, aims to provide direct financial support to the main residence housing buyers.

The platform highlighted that both single individuals and those without children can also benefit from the direct housing aid program.

It also mentioned that applicants are expected to receive approval within 7 days of submission, while financial aid approval and disbursement can be completed within 15 days from the submission of a documented copy of the promise-to-sell contract and housing license.

·         Requirements:

The platform specified that the government supports the acquisition of housing units with a maximum price of 700,000 MAD (including tax). They also must be sold for the first time, as required by the Finance Law of 2023 as well as of 2024, and Decree 2.23.350.

The purchased housing must have a valid housing license issued on or after January 1st, 2023.

The primary residence, as defined by the platform, refers to “a housing unit that is not rented or designated for other purposes. For Moroccans living abroad, they must retain this residence for five (5) years as their residence in Morocco, without compensation from spouses, assets, or direct first-degree relatives.”

The financial aid will be disbursed after the notary notifies the National Retirement and Insurance Fund of the agreed-upon method for disbursing the financial aid with the beneficiary.

This can be accomplished by issuing a bank check in the name of the notary and handing it immediately over to the aid recipient, or by making a direct bank transfer to the notary’s account with the Deposit and Management Fund.

Housing support applicants don’t need to submit paperwork, according to the same source; they can submit a request form via the housing support platform, which is verified and responded to within 7 days.

The notary must submit a promise-to-sell contract and housing license within 30 days of receiving initial approval for a housing aid request. If the deadline is missed, the request is automatically canceled, but the applicant still can fill out a new request.

If the property is sold within five years, the beneficiary must return the aid amount to the National Retirement and Insurance Fund, and the mortgage cannot be lifted until the aid is repaid.

In line with King Mohammed VI’s determination to strengthen citizens’ ability to access decent housing, the new program, which will run from 2024 to 2028, is envisioned to help households’ purchasing power through direct financial aid to the purchaser, instead of fiscal incentives to the real estate developers.

Moroccans from low-income and middle-class social classes are eligible for a housing aid program, except those who own a house or have previously received assistance.

The amount is determined by the home’s purchase price, with assistance ranging from MAD 100,000 for up to MAD 300,000 (including tax) and MAD 70,000 for homes between MAD 300,000 and MAD 700,000 (including tax).

The housing acquisition aid aims to boost private sector growth, particularly small and medium-sized enterprises (SMEs).

The program will build housing units in line with current development plans and technical standards. 12 regional urban planning and housing agencies will be established to support the program’s implementation.

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