Online Reporter
Wallace Ruzvidzo
Herald Reporter
CHAS Everitt International Property Group, one of Africa’s leading real estate firms, has announced its rapid expansion into Bulawayo.
The development comes just six months after the company’s highly successful launch in Harare and underscores its firm commitment to and confidence in the Zimbabwean property market’s robust growth potential.
Chas Everitt International’s chief operating officer Mr Barry Davies said the decision to expand into Bulawayo was in direct response to the overwhelming market reception in Harare and the identified potential in the Matabeleland area.
Median home prices in Bulawayo are said to be steadily growing, offering a potential return of 20 percent to 30 percent for affordable properties.
“Our initial foray into Zimbabwe was based on a clear-eyed assessment of the underlying economic drivers here; growth in mining, tourism and agriculture is creating substantial wealth and attracting significant investment.
“The response in Harare has unequivocally confirmed our thesis. Expanding into Bulawayo within six months is not just an opportunity; it is a strategic necessity to serve the entire market ecosystem and the growing number of diaspora inquiries we are receiving for properties across Zimbabwe’s major cities,” he said.
Mr Davies said Bulawayo Minister of State for Provincial Affairs and Devolution Judith Ncube is set to officially open and launch the real estate giant’s Bulawayo office early next month.
The office, located in the city’s central business district, will focus on servicing the burgeoning demand for high-end residential properties, commercial real estate, and investment opportunities, particularly from diaspora investors and local high-net-worth individuals.
“We see immense, untapped potential in Bulawayo.
“There is a profound desire for international-standard property services and a clear demand for quality housing from a returning professional class and diaspora investors.
“We are not just selling houses; we are facilitating investment into Zimbabwe’s future by connecting a global audience with local opportunity,” he said.
In Bulawayo, Chas Everitt said they will initially target suburbs such as Khumalo, Hillside and Famona, which are experiencing steady demand, with property prices in Khumalo having risen by about 12 percent over the last two years.
“Suburbs such as Burnside and Riverside are also a target as they have seen consistent value growth, making them suitable for rental income.
“In Burnside, property values have appreciated by around 10 percent to 15 percent over the past five years,” said the company.
Chas Everitt noted that nearly 50 percent of its inquiries in Zimbabwe are from the diaspora community looking to invest in secure, high-yield assets back home.
The Bulawayo expansion is designed to directly cater to this demand, said the real estate company.
