Zimbabweans living abroad are playing an increasingly significant role in the country's real estate sector, with their investments providing a substantial boost to the market. Driven by a desire to build wealth, secure their future retirement, earn rental income, or simply own a piece of home, the diaspora's contribution is a key factor in the current property landscape.

Recent reports and market trends indicate a strong appetite among the diaspora for real estate in Zimbabwe. This interest spans various property types, including residential stands, completed houses, and increasingly, properties within secure gated communities that offer perceived safety and modern amenities. There is also emerging interest in potentially lucrative segments like student accommodation and even agricultural land.

Diaspora remittances have long been a vital source of foreign currency for Zimbabwe, and a significant portion of these funds is being directed towards property investments. For many abroad, real estate in their home country is seen as a tangible and relatively stable asset in an otherwise unpredictable economic environment. The potential for good returns on investment, particularly in areas with high demand, further attracts this group.

However, diaspora investors also face considerable challenges. A major hurdle is the risk of fraud and scams, with instances of individuals being swindled by unscrupulous people or entities when trying to purchase property remotely or through intermediaries. This has led to a degree of caution and a strong need for trustworthy channels and verification processes.

Furthermore, while the appetite for investment is high, navigating the local market from a distance can be complex. Issues around currency fluctuations, understanding local regulations, accessing reliable information, and the logistics of managing property from abroad can pose difficulties. Although there are no legal restrictions on foreign ownership of property in Zimbabwe, practical challenges can still arise.

Recognizing the vast potential of diaspora investment, there are growing efforts to better engage this demographic and facilitate their participation in the real estate market. Initiatives such as diaspora-focused property expos held in countries with large Zimbabwean populations aim to connect potential investors directly with reputable developers and financial institutions. There are also calls for local banks and real estate companies to establish dedicated desks or units to cater specifically to the needs of the diaspora, providing tailored services and building trust.

Ultimately, unlocking the full potential of diaspora investment requires a concerted effort to enhance transparency, improve regulatory certainty, and build confidence through reliable institutions and clear processes. As the market continues to evolve, the diaspora's role is expected to remain pivotal, shaping development trends and contributing significantly to the growth of Zimbabwe's real estate sector.

News & Articles