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Property

Property sector depressed

THE property market remained depressed in the first quarter of 2018 due to a subdued economy, with rental income suffering a knock as voids increased during the period, a report by Old Mutual Securities (OMSEC) said. In its first quarter economic and equities review released on Monday, OMSEC said the…

Valuation discrepancies worry REIZ

THE Real Estate Institute of Zimbabwe (REIZ) says it is concerned about the huge variations in valuation by its members on properties, a situation that raises questions about ethics and professionalism in the sector. This emerged in Harare last week when REIZ held a seminar on good corporate governance and…

Banks line up $370m for new housing

ZIMBABWE’S banking sector is projected to fund 11 611 new housing units valued at $365,6 million by December 31, 2018, the Reserve Bank of Zimbabwe (RBZ) has said. Last year, banks funded 5 700 new housing units worth $172 million. Presenting his monetary policy statement last week, RBZ governor John…

RBZ warns against offshore property deals

By Farai Mabeza RESERVE Bank of Zimbabwe governor John Mangudya has warned against making offshore payments for immovable properties sold in Zimbabwe. Presenting his monetary policy statement last week, Mangudya said the central bank had realised that some payment arrangements for both the sale of immovable property and management fees…

Court nullifies property attachment

THE High Court has reversed the attachment of an upmarket Harare property after the wife of the debtor, who is the co-owner of the house, challenged the process on the basis that her own share had been unlawfully included in the attachment. Olivia Mukoko successfully challenged the attachment of the house…

High Court Absolves Estate Agent

THE High Court has absolved leading real estate firm, Guest & Tanner Real Estate, of negligence in a case in which a Harare woman lost $47 000 in a fraudulent property sale. The court ruled that Nellie Wanjowa had failed to prove that the real estate firm had not acted…

ZPI enters Vic Falls property rush

ZIMBABWE Stock Exchange-listed property firm, Zimre Property Investments (ZPI), will tomorrow commission a $13 million shopping mall in Victoria Falls, as investors stampede to the resort town after its recent major airport expansion. Following the $150 million upgrade of Victoria Falls International Airport in November 2016, major airlines expanded frequencies,…