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For many Zimbabweans living abroad, real estate investment is becoming an increasingly powerful way to remain rooted in the homeland. In 2024, diaspora remittances soared to US $2.2 billion a 22% rise from 2023 cementing their role as one of the most reliable sources of foreign currency and a lifeline for the economy. A significant share of this money is flowing directly into real estate.
Where the Money Is Flowing: Top Areas in Demand
Recent market activity highlights several areas dominating diaspora demand:
- Borrowdale & Pomona : Premium suburbs where gated estates and lifestyle properties remain the top choice for long-term family homes.
- Mount Pleasant Heights : Favoured for serviced stands and cluster homes with good infrastructure and schools nearby.
- Madokero : Offering secure, well-planned housing developments at relatively affordable entry points, attractive for both rental and family living.
- Ruwa & Damofalls : Known for affordable serviced stands with flexible payment plans.
- Norton : An option for affordable stand-alone homes and future growth potential.
- Mazowe Corridor : Attracting buyers seeking peri-urban homes and agricultural plots.
Why the Diaspora Is Investing Back Home
The strong appetite for real estate among Zimbabweans abroad is driven by several factors:
1. Currency Protection
Property offers a safe hedge against currency volatility and inflation, allowing buyers to preserve value in a tangible asset.
2. Security and Retirement Planning
Many invest in homes for future retirement or to provide secure accommodation for relatives back home.
3. Attractive Rental Yields
Suburbs such as Borrowdale, Madokero, and parts of Mount Pleasant are producing gross rental yields of 6%–12%, making property a viable income stream.
4. Preference for Serviced Land and Cluster Homes
A large portion of diaspora inquiries focus on titled, serviced stands and lock-up-and-go cluster housing in secure, managed estates.
5. Flexible Payment Options
Developers offering installment plans in USD over 6–24 months are making property purchases more accessible to diaspora buyers.
Looking Ahead
The role of the diaspora in Zimbabwe’s property market will continue to grow in 2025 and beyond. Demand for gated communities, cluster housing, and serviced stands is expected to remain strong, while interest spreads beyond Harare into growth hubs like Victoria Falls, Mutare, and Gweru.
For Zimbabweans abroad, property is more than an investment it is a symbol of belonging, security, and hope for the future.
