The company employs 20 sales associates and Rutendo hopes to double this next year.
Adrian Goslett, CEO of RE/MAX of Southern Africa, congratulated Rutendo on his achievements. “Dedication and hard work are undoubtedly two key factors to success in the current property game,” he said.
Talking about the local property market, Rutendo says that there is a huge housing backlog in Zimbabwe, especially in Harare, which has been hampered by lack of available finance. “This situation will be a key market driver over the next five to 10 years,” he says.
As liquidity gradually starts to improve and financial institutions start to approve home loan finance once more, he believes his agents could conclude between two and three transactions each per month.
The Harare property market is a buyers dream at the moment, according to Rutendo, who says there are lots of listings – and buyers are definitely calling the shots, especially cash buyers.
Property prices have already shown remarkable appreciation over the last year, some by as much as 30%, which is exceptional given the current worldwide economic climate.
“This is also possibly because there is limited stock which is driving up the prices,” he said. There have been no new residential property developments over the past 10 years due to inadequate funding.
Over the next six months, Rutendo expects positive movement in the Harare property arena as the country starts to see more of a general economic upturn. “As long as things remain calm on a political front, we are expecting increased activity and confidence in property here. There can be no doubt we are poised for further growth,” he said.
Post published in: News