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Property sellers cautious

Staff Writer

INDUSTRIAL stands are no longer selling as fast as they used to, says Contact Real Estate (Pvt) Ltd general manager Ralph Chadwick.

, sans-serif”>He said this could be due to the economic environment prevailing as well as the high interest rate regime.

“Commercial industrial stands are not selling that much,” he said. “The situation is very flat at the moment.”

Customers are finding it extremely difficult to find properties to buy because owners are now unwilling to sell, said a Redfern and Mullet (Pvt) Ltd spokesperson.

The spokesperson said the market was very quiet at the moment with few properties up for sale.

“The market is very quiet right now,” she said. “There are many individuals looking to buy but no sellers. Maybe the situation will change at the end of the year when bonuses and company dividends are given out.”

She said whatever her company was given to sell was quickly snapped up.

A spokesman for Southgate and Bancroft (Pvt) Ltd said the market was quiet but rental prices were increasing almost on a daily basis.

“Prices are going up because of the few properties on the market,” he said.

“The demand is now very high. In fact at the moment all types of properties are in demand.”

He said flats were also in demand because individuals saw them as more affordable than houses.

“Flats are very much in demand but are currently not available,” he said.

Seeff Zimbabwe (Pvt) Ltd managing director Nick Masaya concurred the market was quiet.

He said residential properties still dominated the market but the number of sales was very low. “There are few sales at the moment,” he said.

“The market is very quiet. The number of sales are also very low.”

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