es in the residential property sales market, it was learnt this week.
A snap survey by The Zimbabwean this week found that since the beginning of last year, rentals had increased by more than 1,000 percent in most of Harare ’s residential areas as desperate tenants competed for the few houses and flats on the market.
Though some of the rental hikes were a result of efforts by property owners to keep pace with hyperinflation, which rose to a record high of 1,090 percent in November, real estate agents said some of the increases were caused by potential tenants offering more money to secure accommodation.
Sharon Muza, a consultant with a Harare real estate firm, said demand for properties was so high that her firm received more than 10 serious applications and several telephone inquiries for every house advertised.
She said some applicants offered to pay more than the asking rental.
“The demand is so serious that, in some cases, when we get a house to rent out for say $100,000 per month, someone will not only offer to pay $120,000 but also to pay rentals for the whole year in advance,” Muza said.
Partly because of this, rentals in high-density areas such as Sunningdale, Mufakose, Budiriro and Glen Norah for one room have increased from around $300,000 (old currency) in January to between $20,000 and $30,000 or $20 million and $30 million (old currency).
Properties in middle-density areas such as Msasa Park, Mabelreign and Hillside, as well as flats near the city centre, which used to cost between $150,000 (old currency) and $200,000 per month (old currency), are now around $90,000 or $90 million (old currency) .
In low-density areas such as Mandara, Greendale and Borrowdale Brooke,
properties that were over $400,000 (old currency) in January now cost up to $400,000 or $400 million old currency, per month. Some up-market properties in these areas are being rented out for $1million per month.
Muza said the margins of rental increases varied depending on the location of the properties, their condition and whether the owners closely monitored and followed trends on the market.
Another property consultant said Zimbabweans who had prospered despite the country’s economic crisis were moving to secure, up-market locations, while those whose incomes had been eroded by hyperinflation were moving out of the city centre and from middle-density suburbs to cheaper locations without reliable transport.
High-density areas, which are located some distance from city centres, have been hard hit by transport shortages, the result of Zimbabwe’s fuel crisis and a foreign currency squeeze that has hampered imports of spare parts and new vehicles.
“The highest rental offers are made for properties in locations that have good security and where it is easy to get transport, that is why you see people moving from areas like Chitungwiza and Glen Norah to areas like Warren Park and Arcadia ,” the property consultant said.
He said those with money to spend and concerned with security were moving to rent properties in residential complexes like Borrowdale Brooke, which has round-the-clock security.
4.1.2007
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Rentals out of reach for ordinary people( 04-01-07)
HARARE – Zimbabwe ’s residential rentals went up more than ten times last year alone, driven up by cash-rich individuals and foreigners unable to buy their own properties because of serious shortag
HARARE – Zimbabwe ’s education system was once considered among the best in Africa . But according to a report that will soon be released by UNICEF, the U.N.
children’s agency, fewer children are able to enroll in school and many of
those who do enroll are forced to drop out.
The UNICEF report is going to be released early next year. According to a draft of the study, almost 40 percent of children of primary school age who dropped out of school reported rising fees as the main reason for quitting.
Zimbabwe introduced state school fees in the early 1990s, but as the economy has declined in recent years, schools have had to raise their fees and parents have been unable to keep up with rising costs. Government is currently locked in a legal battle with 61 private schools over fee capping legislation. And President Mugabe threatened to take “sterner action” against the schools warning during his ruling party’s annual conference that “enough is enough.” He did not elaborate.
The draft report states that many children, especially girls, are dropping out of school to care for parents afflicted by HIV or to look after their siblings when their parents die.
children’s agency, fewer children are able to enroll in school and many of
those who do enroll are forced to drop out.
The UNICEF report is going to be released early next year. According to a draft of the study, almost 40 percent of children of primary school age who dropped out of school reported rising fees as the main reason for quitting.
Zimbabwe introduced state school fees in the early 1990s, but as the economy has declined in recent years, schools have had to raise their fees and parents have been unable to keep up with rising costs. Government is currently locked in a legal battle with 61 private schools over fee capping legislation. And President Mugabe threatened to take “sterner action” against the schools warning during his ruling party’s annual conference that “enough is enough.” He did not elaborate.
The draft report states that many children, especially girls, are dropping out of school to care for parents afflicted by HIV or to look after their siblings when their parents die.
The report says poverty and HIV/AIDS caused completion rates in primary education to fall to 70 per cent in 2006.
Another reason for the decline in school attendance is Zimbabwe ’s land reform program, under which more than 320,000 of Zimbabwe ’s 350,000 commercial farm workers have lost their jobs. As a result, these unemployed workers cannot afford to send their children to school. UNICEF says this means more than 120,000 children in primary and secondary school no longer have access to education. Funds for the government’s Basic Education Assistance Module (BEAM) that was helping disadvantaged students with fees has dried up.
What makes Zimbabwe ’s educational decline so alarming is that the country’s education system was once a source of great pride. The Zimbabwean government engaged in a massive school-building exercise after independence in 1980.
This resulted in the attainment of gender parity and universal literacy for the population under 25, an achievement which ensured that Zimbabweans enjoyed a literacy rate of nearly 90 percent, the highest in Africa .
But educational experts warn that these achievements are now under severe threat, even though the government still ranks education highly and apportions education one of the largest slice in the national budget.
A substantial amount of the budget allocation goes toward payment of fees for those who cannot afford to do so. But because so many students need assistance the government cannot afford to pay fees for most of those in need.
Another reason for the decline in school attendance is Zimbabwe ’s land reform program, under which more than 320,000 of Zimbabwe ’s 350,000 commercial farm workers have lost their jobs. As a result, these unemployed workers cannot afford to send their children to school. UNICEF says this means more than 120,000 children in primary and secondary school no longer have access to education. Funds for the government’s Basic Education Assistance Module (BEAM) that was helping disadvantaged students with fees has dried up.
What makes Zimbabwe ’s educational decline so alarming is that the country’s education system was once a source of great pride. The Zimbabwean government engaged in a massive school-building exercise after independence in 1980.
This resulted in the attainment of gender parity and universal literacy for the population under 25, an achievement which ensured that Zimbabweans enjoyed a literacy rate of nearly 90 percent, the highest in Africa .
But educational experts warn that these achievements are now under severe threat, even though the government still ranks education highly and apportions education one of the largest slice in the national budget.
A substantial amount of the budget allocation goes toward payment of fees for those who cannot afford to do so. But because so many students need assistance the government cannot afford to pay fees for most of those in need.