News / Local
Zimbabwean diaspora drives property boom
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Zimbabweans living abroad are increasingly turning to real estate as a way to maintain ties with their homeland, according to recent market trends. In 2024, diaspora remittances to Zimbabwe rose to US$2.2 billion, a 22% increase from 2023, reinforcing their role as a vital source of foreign currency and a lifeline for the economy. A significant portion of these funds is now flowing directly into the property market.
Prime suburbs such as Borrowdale and Pomona remain favourites among diaspora buyers, particularly for gated estates and lifestyle homes. Mount Pleasant Heights is also in high demand, offering serviced stands and cluster homes with established infrastructure and proximity to schools. More affordable options are attracting buyers in areas like Madokero, which boasts secure, planned developments suitable for rental or family living.
Ruwa and Damofalls appeal to investors seeking serviced stands with flexible payment plans, while Norton offers affordable standalone homes with potential for future growth. The Mazowe Corridor is drawing interest from buyers looking for peri-urban homes and agricultural plots.
Several factors are driving diaspora investment in real estate. Property is seen as a hedge against currency volatility and inflation, providing a tangible way to preserve wealth. Many investors are also planning for retirement or securing accommodation for relatives back home. Rental yields in high-demand suburbs such as Borrowdale, Madokero, and Mount Pleasant range between 6% and 12%, making property a viable source of income.
Serviced stands and cluster homes in secure estates remain the preferred choice, with developers offering installment plans in USD over periods of six to 24 months to make purchases more accessible for buyers abroad.
Looking ahead, demand from the diaspora is expected to continue growing in 2025 and beyond. Interest is spreading beyond Harare into emerging growth hubs like Victoria Falls, Mutare, and Gweru.
For Zimbabweans abroad, investing in property is not just a financial decision — it is a symbol of belonging, security, and a long-term connection to their homeland.
Prime suburbs such as Borrowdale and Pomona remain favourites among diaspora buyers, particularly for gated estates and lifestyle homes. Mount Pleasant Heights is also in high demand, offering serviced stands and cluster homes with established infrastructure and proximity to schools. More affordable options are attracting buyers in areas like Madokero, which boasts secure, planned developments suitable for rental or family living.
Ruwa and Damofalls appeal to investors seeking serviced stands with flexible payment plans, while Norton offers affordable standalone homes with potential for future growth. The Mazowe Corridor is drawing interest from buyers looking for peri-urban homes and agricultural plots.
Serviced stands and cluster homes in secure estates remain the preferred choice, with developers offering installment plans in USD over periods of six to 24 months to make purchases more accessible for buyers abroad.
Looking ahead, demand from the diaspora is expected to continue growing in 2025 and beyond. Interest is spreading beyond Harare into emerging growth hubs like Victoria Falls, Mutare, and Gweru.
For Zimbabweans abroad, investing in property is not just a financial decision — it is a symbol of belonging, security, and a long-term connection to their homeland.
Source - NewZimbabwe
