Madagascar 💰 MGA Last updated2026-05-28

Prêt immobilier Calculator Madagascar

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Quick answer (Madagascar)

A prêt immobilier of 180,000,000 MGA at 13.5% over 15 years works out to a monthly payment of about 2 336 973 Ar, with total interest of 240 655 208 Ar over the full term.

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Mortgage Calculator

USD

Home Value

LTV 80% · No PMI ✓

Loan Amount

Interest Rate

Term

Total Monthly

$2,636,973

PITI

Principal + Interest

$2,336,973

57% goes to interest

Total Interest

$240,655,208

over 15 years

Monthly Breakdown

Principal & Interest$2,336,973

Property Tax (1.1%/yr)$206,250

Homeowner's Insurance (0.5%/yr)$93,750

Total Monthly$2,636,973

Principal vs Interest Split

43% principal

57% interest

✨ Live recalculation·Includes P&I, property tax, insurance. Estimates only. Consult a licensed lender for exact rates.

Local context

Prêt immobiliers in Madagascar

Typical loan

180 000 000 Ar

in Madagascar

Typical rate

13.5% p.a.

prime borrower, 2026

Typical term

15 years

most common

Market overview

Malagasy mortgage lending is dominated by BNI Madagascar (BNP Paribas-affiliated), BFV-Société Générale, Bank of Africa Madagascar (BOA) and BMOI, reflecting the country's deep French banking heritage. The Banky Foiben'i Madagasikara (BFM) sets a Directeur (policy) rate of 11.0% as of 2024. Mortgage penetration is below 2% of GDP, limited by weak land titling outside Antananarivo.

Why 13.5% is the typical rate

Rates of 12-16% combine BFM's 11% Directeur rate with a 200-500 bps bank spread reflecting collateral enforcement risk and high cost-to-income ratios in Malagasy banking.

Tax & regulatory notes

Property registration involves 5% droits d'enregistrement plus 1% transcription fee at the Conservation Foncière under Loi 60-004. The 2005 Land Reform (Loi 2005-019) introduced private titling alongside the legacy French Torrens system, but most rural land remains untitled. CSBF (Commission de Supervision Bancaire et Financière) regulates mortgage lending.

🧮 Worked example

A prêt immobilier of 180,000,000 MGA at 13.5% over 15 years

Loan amount

180 000 000 Ar

Annual interest rate

13.5%

Term

15 years (180 months)

Monthly payment

2 336 973 Ar

Total interest paid

240 655 208 Ar

Total paid (principal + interest)

420 655 208 Ar

❓ FAQ (Madagascar)

Common questions in Madagascar.

Who are the main mortgage lenders in Madagascar?

BNI Madagascar (linked to BNP Paribas), BFV-Société Générale and Bank of Africa Madagascar (BOA) hold the majority of the residential mortgage market, with BMOI and Accès Banque serving smaller segments. Most lending is concentrated in Antananarivo and Toamasina.

Can foreigners buy property in Madagascar?

Foreigners can own buildings but not land under Loi 2007-036, except through 99-year emphyteutic leases or by forming a Malagasy-majority company. Mortgage access for foreigners is limited and usually requires substantial down payments of 40-50%.

What is the difference between titre foncier and certificat foncier?

Titre foncier is the legacy French Torrens registered title issued by the Conservation Foncière, while certificat foncier is the locally-issued certificate introduced by the 2005 Land Reform for previously untitled land. Banks generally only accept titre foncier as mortgage collateral.

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