house.jpgThe property market has remained subdued for more than eight months owing to liquidity constraints while commercial rentals have gone beyond the reach of many.

Zimbabwe’s property market is currently struggling as investors have adopted a wait and see attitude while commercial rentals have gone through the roof and in the process pushing locals out of business.

 

In Harare most of the business parks resemble white elephants as tenants are opting for offices in residential areas.

 

The property market has remained subdued for the past eight months resulting in a buyers market while sellers are holding on to their properties with a view of future price hikes.

 

Develop it Zimbabwe Chief Executive Officer Mr. Samuel Mudavanhu attributed low activity on the property market to liquidity constraints that affected local financial institutions which are offering short term loans of between 30-90 days.

 

With commercial rentals pegged at ten dollars per square metre, Zimbabwe’s property market is now rated the second most expensive destination after Angola which charge rentals of 15 dollars per square meter.