Should You Buy to Rent in Harare or Bulawayo? A Smart Investor’s Guide

With Zimbabwe’s urban rental demand on the rise, many property investors are asking the golden question:

👉 Should I buy to rent in Harare or Bulawayo?

Both cities have their strengths, but depending on your budget, strategy, and long-term goals, one may offer better returns than the other. This article explores the pros, cons, and rental yield trends in Harare vs. Bulawayo to help you make an informed investment decision.

What Does “Buy-to-Rent” Mean?

A buy-to-rent property is a home, apartment, or commercial space purchased for the purpose of generating passive rental income not for personal use.

It’s one of the most popular long-term wealth-building strategies in Zimbabwe, especially with:

• Rising urban populations
  
• Limited new housing stock
  
• Growing demand for quality rental units
  

Harare: The Capital Advantage

Why Invest in Harare?

• High rental demand: As the commercial and political capital, Harare attracts professionals, diplomats, and NGOs.
  
• Higher rental rates: Borrowdale, Mt. Pleasant, Highlands, and Avondale often command premium prices.
  
• Wider tenant base: Students, expatriates, families, and corporate tenants
  

Rental yield snapshot (2024):

Average yield in Harare suburbs: 6%–9%, depending on location and property type.

Challenges in Harare

• Higher entry costs: Land and building prices are significantly steeper
  
• Intense competition: Popular suburbs are saturated
  
• Currency volatility: Tenants prefer USD rentals, but policy shifts can complicate lease agreements
  

Bulawayo: The Underrated Gem

Why Invest in Bulawayo?

• Lower property prices: Easier market entry for small-to-midscale investors
  
• Stable, long-term tenants: Especially in suburbs like Khumalo, Famona, Hillside, and Ilanda
  
• Growing SME and student rental markets: NUST and local colleges fuel demand for shared housing
  
  

Rental yield snapshot (2024):

Average yield in Bulawayo suburbs: 5%–7.5%

Challenges in Bulawayo

• Slower capital appreciation: Prices rise slower than in Harare
  
• Limited high-end tenant pool: Fewer executive tenants, more price-sensitive renters
  
• Less liquidity: Properties may take longer to sell if you decide to exit
  

What to Consider Before Buying to Rent

1. Target Tenant Profile

• Harare = corporate tenants, NGOs, expats, high-income locals
  
• Bulawayo = families, students, SMEs, mid-income earners
  

2. Budget and Property Type

• $40,000–$80,000 = Strong options in Bulawayo
  
• $100,000+ = Entry-level investment in Harare’s mid-tier suburbs
  

3. Rental Strategy

• Short-term Airbnb-style rentals? Harare has better tourist and business traffic.
  
• Long-term leases? Bulawayo offers more stability.
  

4. Risk Tolerance

• Want faster returns and are open to market fluctuations? Harare.
  
• Prefer slow and steady income with lower risk? Bulawayo.
  

Final Thoughts: Which City Wins?

There’s no one-size-fits-all answer.

Choose Harare if:

• You have a higher budget
  
• You're targeting high rental income
  
• You're comfortable with more volatility
  

Choose Bulawayo if:

• You're starting with a modest budget
  
• You prefer consistent, long-term tenants
  
• You're okay with slower capital gains

The real question isn't which city is better it's which one fits your strategy.