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Old Mutual properties overpriced

31 Aug 2017 at 10:43hrs | Views
Letter to the Editor,

I would like to applaud efforts by the National Building Society (NBS) and the People's Own Savings Bank (POSB), on the provision of affordable houses and housing loans respectively.  

Their schemes are able to accommodate both low and middle income earners.  

The new building loan scheme recently introduced by POSB has left everyone a hopeful property owner.  

The terms are good and people can work with them in fulfilling their dreams of owning a house

Old Mutual/CABS on the other hand has faced a low uptake of their Budiriro Project from the many home seekers as the prices are pegged a bit high for the neighbourhood and possible takers.  

The same applies with their other properties that include shopping malls and offices.  

The uptake has been very low and some shop owners have withdrawn their leases due to the high prices.  

High Glen Shopping Centre is turning into a white elephant with the majority of the shops left vacant.  

Eastgate and Westgate malls are also following suit as the number of vacant shops are increasing every month as shop dwellers fail to meet the prohibitive prices. 

Property has been dropping its prices recently and Old Mutual/CABS should take a leaf from other property investors.   

Prosperity Mzila

Source - Prosperity Mzila
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