Patience Patongamwoyo, Seeff Principal in Zimbabwe, said that in the pre-dollarisation era the main buyers of real estate property in Zimbabwe were those in the diaspora and a few locals who had access to the USD as the local properties had become relatively cheap in real terms.
In the past three years we have also seen residential, industrial and commercial investment from the Chinese business people due to the Government`s look-east policy”. In low density areas such as Harare North the entry value is $130000 to acquire a two bedroom garden flat. Like in the case of South Africa there is a high demand for security estates in Zimbabwe. These estates are mostly located in the Harare North area, but some are also being developed in medium to low density areas where there is access to municipal sewer connection.
Patongamwoyo concludes that there are also buy to let opportunities available mainly in the medium to low density areas, but it is mostly financial houses that are buying finished complexes or buying land and constructing complexes themselves and then letting them out.
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