New Capital City, New Property Prices
Construction of Zimbabwe’s new parliament building is currently underway in MT Hampden, with completion set to be concluded within the next 3 years. It is expected that government headquarters will relocate there as the parliament building becomes the focal point of development in the new capital.
While decongestion is a primary objective, land developers have taken advantage of the sudden demand for land from investors. This in turn has seen the price tag on the vast farmland increasing from as low as 15 cents per square metre to an average of $10 per square metre.
Chairman of the Real Estate Institute of Zimbabwe Mr Eric Juru says these rates are expected to match Harare’s Central Business District rates of over $600 per square metre in the next few years.