Chronicle Editor
Davison Kaiyo, Harare Bureau
Property developers are demanding payment in US dollars for residential stands or houses in a development that might further exclude ordinary people from owning houses.
The development flies in the face of efforts by Government to reduce a national housing backlog estimated at more than 1,3 million.
A snap survey by our Harare Bureau has shown that most properties were now pegged in US dollars while citizens earn Bond notes and the exchange rate is punitive.
A property developer selling cluster homes in Borrowdale confirmed they were selling only in US dollars.
“We have three bedroomed cluster homes in Borrowdale going for $116 000. We are only accepting US$ cash,” said an agent for the developer, who refused to be named.
Zimre Property Investment Limited is also selling its Ruwa stands in US dollars.
“We have 800sqm selling for US$24 140. We accept US dollars cash or through our Nostro account we hold with the local bank,” said the sales representative.
Floburg Real Estate company is selling stands in Tynwald for US$22 000.
The demand for housing has over the years outstripped supply driven by rural-to-urban and inter-city migration in major cities such as Harare, Bulawayo, Gweru and Mutare.
derick.khumalo