The chief executive officer of Property 101 a locally based property investment company, Morris Hove, has urged Zimbabweans to invest in residential properties now while prizes are still low.
Hove, who is in the United States for a property market investiment road show which started in Dubai and will be held in Washington DC this Friday, says his company has received overwhelming support from Zimbabweans in the diaspora although the majority had reservations about the security of their investment in the homeland.
"In most of the roadshows I have been urging prospective diaspora investors to engage lawyers to make sure that thier funds for purchasing property are secured in trust funds. This removes the risk of losing their life savings to unscrupulus property barons or relatives and friends as has been happening in the past," said Hove.
Hove said although many diaspora investors may be sceptical to invest in Zimbabwe due the current deteriorating economic and political environment , some foreign property investors are taking advantage of this uncertainity which is providing favourable prices for investors to take advantage of.
" It is time for Zimbabweans in the diaspora to start looking at taking up property investments so that they are not crowded out from foreign investors who are currently taking advantage of the lucrative market that is currently prized for the picking," said Hove.
Hove said many residential property investors the world over often take advantage of situations similar to Zimbabwe's which sees them buying at low prizes and selling high, so the time is ripe for locals in the diaspora to invest.