The Zimbabwean housing market has become increasingly unaffordable in recent years, with soaring mortgage interest rates and exorbitant property prices.

This has resulted in only a select few, often referred to as overnight “mbingas,” being able to afford becoming landlords by purchasing these excessively priced assets.

The burden of these high prices falls on tenants, who are forced to pay exorbitant rental prices compared to the standard living wage.

This has made it impossible for the majority of the population, especially young people, to enter the property market.

As a result, many young people are forced into multi-room occupancy situations, particularly in densely populated suburbs.

This crowding exacerbates public health crises, such as the current cholera crisis, due to poor public health and infrastructure.

The Reserve Bank of Zimbabwe appears to be indifferent to its crucial role in fostering a stable and sound financial system.

The current economic landscape continues to favour a privileged minority, consisting of “mbingas” and politicians connected to the regime in Harare, while the majority of the population struggles with hardship.

The Citizens Coalition for Change (CCC) led by President Nelson Chamisa has pledged to implement policy measures to lower rates, promote economic stability, and improve the economy for the benefit of everyone.

The party said in a statement…

“The CCC is committed to making affordable housing accessible to all Zimbabweans.

Zimbabwe is in desperate need of affordable housing that is accessible to all, and the time for change is now. #ForEveryone.”

Source -ZimEye