Zimbabwe's property market has a big problem: many people don't trust it. Zimbabwe’s property market is worth over US$85 billion according to Statista and our internal Propertybook data. It’s projected to be worth over US$145 billion by 2029.
Regardless, many buyers are scared. They're scared of fake agents, bad deals, and losing their money.
To dive deeper into this issue, Propertybook interviewed Mike Tashaya, Head of Developments at SEEFF Zimbabwe. He just returned to Zimbabwe from a trip to Texas, USA, where SEEFF, alongside other real estate industry players, held a property exhibition for Zimbabweans living in the USA.
In July, he’s doing the same thing in SEEFF’s second such trip to England.
Tashaya is at the helm of a strategy that turned a sceptical market into thousands of fees in deals last year. His story shows how bad the trust problem is—but also how to fix it.
Mike Tashaya (right) at the 2024 Zim Diaspora Property Showcase in the UK
The Broken System
The trust problem in Zimbabwe's property market goes deep. Real estate has proven to be one of the most thriving industries in our economy and because of this it has become prone to con-men, land barons and bogus actors who prey on unsuspecting property buyers, sellers, landlords, tenants and agents.
When SEEFF first looked at Zimbabwe, they found what Tashaya calls "an untapped market." It wasn't untapped because people didn't want to buy. It was untapped because investors had been "through some very bad deals."
This resulted in a market where "there's no trust" and where real developers would see "one or two purchases" over two years.
The problem is everywhere. Bogus agents that have mushroomed all over the place who misrepresent themselves by either advertising properties that do not exist or properties that they do not have mandates to advertise have made every deal feel risky.
Where Should You Buy Property in Zimbabwe?
For people asking "where is the best place to buy a house in Zimbabwe," the answer isn't just about location anymore. It's about trust. 60% of new developments in Harare shows where most activity happens. But location doesn't matter if you can't trust who you're buying from.
The fake agent problem affects all areas. They steal photos from real listings, remove watermarks, and post them on Facebook. When buyers show up to view properties, they find different people than the ones in the photos. Sometimes the properties don't even exist.
The Diaspora Problem
Zimbabweans living abroad face even bigger challenges. They have money to invest but can't easily check if deals are real. According to Tashaya, the trust question was the main one they wanted answered. They asked "is it worth investing in property in Zimbabwe?" because too many of them have burned by scams.
Many Zimbabweans in the diaspora have even been burned by their own relatives that they trusted to act as their local proxies.
Now, many of them see prices that look too good to be true. That's because they often are. Fake agents target diaspora investors because they can't easily verify properties in person. When something goes wrong, the "agents" disappear.
This creates a cruel situation. The people with the most money to invest—Zimbabweans working abroad—are the least likely to trust the market enough to buy.
New Property Developments in Harare: The Current Market
Total market size: Approximately 7,800 listed properties with a total market value: US$85 billion. New developments in Zimbabwe are some of the hottest properties around.
For those wondering "is it cheaper to buy or build a house in Zimbabwe," the numbers show building costs are rising. New construction premium: 15-20% above existing properties means new builds cost more than older homes.
But these good numbers hide the real problem. Even with the popularity and affordability of these new properties for sale in Zimbabwe, many developments for sale in Harare struggle to find buyers because of trust issues.
Housing Projects in Zimbabwe: The SEEFF Solution
SEEFF found a way to fight the trust crisis. Instead of just listing properties and hoping for sales, they created events that bring everyone together. Developers, investors, suppliers, and regulators all meet in the same place.
These aren't normal property shows. They're trust-building events where buyers can ask tough questions directly to the people building the projects. Property developers in Zimbabwe who attend these events have to answer for their work in person.
Results show that this strategy is effective. Their 2024 England showcase drew over 2,000 attendees in person, with 500,000 online. Notably, 60% of SEEFF's annual business resulted from the diaspora market with a lot of traction influenced by that one event, generating significant numbers in sales and demonstrating existing demand when trust is established.
Attendees at the 2024 Zimbabwe Diaspora Property Showcase
Cheap Developments for Sale in Zimbabwe: Finding Real Deals
For buyers looking for affordable options, the key is verification. Real cheap developments for sale in Zimbabwe do exist, but so do many fake ones. The difference is in the details.
Real developers will:
- Show you their offices
- Provide proper paperwork
- Let you meet them in person
- Answer questions about construction timelines
- Explain exactly what you're buying
Fake agents will:
- Avoid showing their offices
- Refuse to provide documents
- Pressure you to pay quickly
- Disappear when asked tough questions
- Offer prices that seem too good to be true
Where Is the Best Place to Live in Harare?
Highest demand areas: Northern Harare suburbs shows where most people want to live. But the best place to live depends on your budget and needs.
Most popular configuration: 3-4 bedrooms (1,000+ listings) shows what most families want. Growing demand: Gated communities and secure developments reflects safety concerns.
The key is working with registered estate agents in Zimbabwe and developers. Location matters, but not if you can't trust who you're buying from.
The Path Forward
Fixing Zimbabwe's property market trust crisis needs action on several fronts. The rules need updating to reflect modern realities where preventing fraud matters more than old concerns about discrimination.
Technology can help with verification and transparency. Digital platforms can track agent credentials, property histories, and transaction records. This makes fraud harder and easier to catch.
The SEEFF model shows that trust-building works, even though it costs time and money. Their success proves that buyers will engage when they can verify claims and hold sellers accountable.
Looking Ahead
12-month forecasts show continued growth in gated community developments, increased focus on sustainable building practices, and stable pricing in USD-denominated properties. These trends suggest the market has strength that could grow if trust issues were fixed.
The property market's trust crisis represents both Zimbabwe's biggest real estate challenge and its biggest opportunity. A market worth over US$85billion, but working at half capacity due to trust problems represents huge unrealized potential.
The question isn't whether solutions exist—SEEFF and others have shown viable approaches. The question is whether the market will embrace the transparency and accountability needed to unlock that potential.
The stakes go beyond individual transactions. A working property market provides the foundation for broader economic growth. It offers both investment opportunities and wealth creation. Zimbabwe's property market has all the ingredients for success except the most crucial one: trust. Fixing that changes everything.
Analysis based on industry data and market research from from Propertybook.co.zw, Zimbabwe’s leading Zimbabwe property website.
