New Year property review

BY MARTIN REDFERN Holland & Redfern are Chartered Surveyors with offices in Harare, Bulawayo and Mutare, and are thus ideally placed to give an overview of the property market, and trends, countrywide. Basically, low density housing in Zimbabwe is the cheapest in the world in real currency t

erms. For example, Z$4,5 billion buys you a 3 bedroom, 2 bath house with pool, garage, etc on half and acre in Bulawayo; or in other word US$32 000.00!! And US$32 000.00 doesn’t even buy you a bachelor flat in a slum in the U.K. US$150 000 equivalent in Zim secures a regular palace which would not disgrace Hollywood.

The current state of flux in this country both economic and political, has prompted property owners of all classes and colours to depart for pastures new, and we are currently able to offer a very good selection of properties countrywide and a general rule of thumb is that values are between 30 – 40% higher in Harare compared to Bulawayo and Mutare.

Hence the residential market, in Zim terms is strong and the prospective purchaser with forex can be assured that he is making a sound and very reasonably priced investment. When the country turns the corner, this investment in real terms will reap potentially enormous dividends. Investors need only look at Zambia and Mozambique, both of which countries hit just about rock bottom and where properties are now offered and selling at huge forex figures. The main danger is that Government in its wisdom decides that acquisition of private property has become a habit and doesn’t end with farms. But is this really likely?

For an idea of properties we have for sale, take a look at the Holland & Redfern website

Martin Redfern, a Chartered Surveyor of 30 years experience in Zimbabwe and a partner in Holland & Redfern; is the resident partner in Bulawayo. Email [email protected]
Telephone and Fax : 263 9 882944/5/6

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