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As we wrap up the first half of 2022, we’ve gathered key insights and emerging trends from Zimbabwe’s real estate market and shared projections for the remainder of the year. Here’s a summary of the developments across key property sectors:
1. Market Overview
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Unpredictability persists: Certain areas have more supply than demand, while well-priced properties continue to sell quickly.
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Residential sector: Remains the most active, driven by ongoing densification and city expansion efforts.
2. Entry-Level Property Demand
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High national housing demand: Estimated backlog of 1.25 million units.
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Affordability issues: Limited access to mortgages means most buyers turn to stands on credit and self-build options.
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Peri-urban developments: Seeing increased demand from first-time buyers opting for affordability and flexible payment terms.
3. Surge in Luxury Properties
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Growing interest in gated communities and cluster homes.
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Driven by middle to upper-middle class buyers upgrading their lifestyle preferences.
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These developments combine privacy, modern amenities, and security.
4. Redevelopment Trends
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Commercial corridors booming: Along major roads like Emmerson Mnangagwa Road, Liberation Legacy Way, Harare Drive, and Samora Machel Ave.
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Change of use: Properties in older suburbs (Greendale, Mandara, Marlborough, etc.) are being redeveloped into cluster developments or commercial sites.
5. Low-Cost Housing Developments
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Public-private partnerships: More banks are collaborating with government and local councils to fund low-cost housing.
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National focus: Government aims to deliver 220,000 housing units by 2025 under Vision 2030 and the NDS1 strategy.
6. Apartments & High-Density Units
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Strong demand in central areas: Avenues and Avondale continue to attract attention due to proximity to amenities.
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Limited supply drives value: Buyer interest and property viewings are expected to increase as COVID-19 cases decline.
7. Outlook for Second Half of 2022
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Anticipate increased buyer enquiries and transactions.
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A promising time for sellers: those considering listing their properties may benefit from growing demand and active market participation.
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Expect more focus on affordable housing, urban renewal, and strategic commercial investments.
Conclusion
Whether you're buying, selling, or investing, the Zimbabwean property market is showing signs of growth and opportunity across various segments. Stay informed, price accurately, and take advantage of current momentum for the best results.
