New approach to housing support

The finance bill for the year 2023 (PLF-2023) provides for the establishment of state aid for housing support for the benefit of eligible buyers, and sets the conditions for benefiting from it.

This measure breaks with the old system focused on tax expenditures and the provision of land, notes the presentation note of the new budget roadmap.

Indeed, the Government had put in place several incentive measures consisting mainly of the granting of tax exemptions and the mobilization of land in order to encourage real estate developers to adhere to the three housing programs.

As this aid scheme expired at the end of the 2020 financial year, the Government plans to put in place new measures to maintain the momentum and dynamism of the sector given its economic and social importance.

Despite the undeniable positive impact of this old system, evaluations have shown its limits, notes the note, noting that the New Development Model has called for a change in the incentive and financial aid policy of the State of a logic based almost exclusively on tax incentives and the provision of public land to developers towards a logic oriented more towards direct financial assistance targeted for eligible households, thus making it possible to make demand solvent, to support the acquisition of housing within cities, and to ensure efficient and targeted use of State resources.

The PLF thus specifies that state aid has been instituted for housing support for the benefit of buyers of dwellings intended for the main dwelling. The forms and methods of granting said aid are fixed by regulation.

The purchasers of the said dwellings benefit from State aid for housing support under defined conditions.

It is in this sense stipulated that the purchaser must be of Moroccan nationality, having not benefited from any advantage granted by the State in terms of housing and not be the owner, on the date of acquisition, of a real estate intended for housing.

On the other hand, the sales agreement and the final sales contract must be signed before a notary, just as the final sales contract must indicate the purchaser’s commitment to assign the accommodation to his main residence for a period four (4) years from the date of conclusion of the final acquisition contract, to grant to the State a first or second rank mortgage as a guarantee for the restitution of the aid granted, in the event of default to the aforementioned commitment.

The release of the mortgage can only be issued after production by the person concerned of the documents justifying that the acquired accommodation has been assigned to his main residence for a period of four (4) years.

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