Mortgage drought chokes Zimbabwe's property market - The Zimbabwe Mail Mortgage drought chokes Zimbabwe's property market | Zimbabwe News - The Zimbabwe Mail

Mortgage drought chokes Zimbabwe’s property market is being blamed on a long-term financing shortage, with industry leaders saying banks are not supplying the “patient capital” needed to unlock billions in investment. Real Estate Investment Trust (REIT) chair Mike Juru said the lack of 25-year mortgage finance is a major structural obstacle, limiting investment in housing, commercial real estate, and urban development. Although construction continues in Harare and other urban centres, developers say the sector is constrained by short-term lending that cannot support mature property markets. Juru warned that limited affordable, long-duration mortgages push the market toward cash buyers and wealthy investors rather than broader participation. He added that rebuilding confidence will require stable monetary policy, including clarity on the Zimbabwe Gold (ZiG) currency, after years of currency volatility and policy shifts.