Egypt, Algeria and Nigeria are the top 3 mortgage growth markets in 2017: Euromonitor

Euromonitor International has identified the top three markets globally in 2017 by fastest growth in mortgaged households. They are Egypt, Algeria and Nigeria.

Emerging markets dominate the rankings of the fastest growing mortgage markets, with the top 19 growth countries all developing economies. In particular, the Africa and Middle East regions are home finance hotspots, as their large and growing populations are in urgent need of new infrastructure and residential units to resolve urban housing shortages.

Mortgages are an important tool for developing mature consumer markets, since they allow consumers to become homeowners, which can provide more economic stability and improved consumer credit worthiness (though at the cost of long-term indebtedness). This article is part of a series that will highlight key trends from Euromonitor’s Emerging Households strategy briefing.

Read more: Top 3 Mortgage Growth Markets in 2017: Egypt, Algeria and Nigeria