Residential Real Estate - Zimbabwe

In Zimbabwe, the Residential Real Estate market market is estimated to reach a value of US$80.97bn in 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of 5.14%, leading to a market volume of US$104.10bn by 2029.
When compared globally, China is expected to generate the highest value in the Real Estate sector, with US$112.9tn in 2024.
The residential real estate market in Zimbabwe is experiencing a surge in demand due to increased urbanization and infrastructure development.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Zimbabwe is experiencing significant developments and trends.

Customer preferences: In recent years, there has been a notable shift in customer preferences in the Residential Real Estate market in Zimbabwe. Customers are increasingly looking for modern and well-designed properties that offer a range of amenities and facilities. There is a growing demand for properties that are located in safe and secure neighborhoods, with access to good schools, healthcare facilities, and recreational areas. Additionally, customers are also seeking properties that are energy-efficient and environmentally friendly.

Trends in the market: One of the key trends in the Residential Real Estate market in Zimbabwe is the rise of gated communities. These communities offer a sense of security and exclusivity, making them highly desirable among buyers. Gated communities often provide a range of amenities such as swimming pools, gyms, and parks, creating a self-contained living environment. This trend is driven by the increasing need for security and convenience among buyers. Another trend in the market is the growing popularity of high-rise apartments. With limited land availability in urban areas, developers are turning to vertical construction to meet the demand for housing. High-rise apartments offer an efficient use of space and provide residents with a range of amenities such as rooftop gardens, concierge services, and panoramic views. This trend is driven by the need to accommodate a growing population in urban areas.

Local special circumstances: Zimbabwe has a unique set of circumstances that impact the Residential Real Estate market. One of the key factors is the land reform program implemented in the early 2000s, which resulted in a significant redistribution of land. This has led to a decrease in agricultural production and a shift in the economy towards other sectors such as real estate. The land reform program has also created opportunities for property development, as new areas are being opened up for residential construction.

Underlying macroeconomic factors: The development of the Residential Real Estate market in Zimbabwe is also influenced by underlying macroeconomic factors. The country has experienced periods of high inflation and economic instability, which have had an impact on the affordability of housing. However, in recent years, there have been efforts to stabilize the economy and attract foreign investment, which has contributed to a more favorable business environment for the real estate sector. Additionally, the government has implemented policies to promote affordable housing, which has further stimulated the market. In conclusion, the Residential Real Estate market in Zimbabwe is evolving to meet the changing preferences of customers. The rise of gated communities and high-rise apartments reflects the demand for security, convenience, and efficient use of space. The unique circumstances in Zimbabwe, such as the land reform program, have also shaped the market. Overall, the market is influenced by underlying macroeconomic factors and the government's efforts to stabilize the economy and promote affordable housing.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate - Zimbabwe

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

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