Zambian Property Market at a Glance
23-Jun-2016 |
General |
Chileshe Musonda |
1 min read
In one word, the property Zambian property market is growing. Like any market, demand and supply interactions explain price at any given time. Particularly in Zambia, there has been sustained growth in many areas but with concentration in certain nodes. Lusaka, Copperbelt, Solwezi and Choma seem to exhibit the highest growth in both housing purchase prices and rental prices.
Historically, urban Zambia has had a housing supply deficit spanning over three decades. Our recent study of the Lusaka residential housing market indicated that medium cost housing requirement as about 120,000 housing units against actual supply of only about 20,000 houses available to service the demand.
Rental growth has been between 9% to 15% in some of the most active markets. Emerging towns have recorded higher growth while the bigger towns have recorded less growth. This can be attributed to the fact that in the growing towns, demand from individuals and business has spiked while on the supply side, developers are not as keen to expose their capital in markets that have been historically dormant.
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Chileshe Musonda - Property Consultant
Chileshe is the Chairman and founder of Sherwood Greene
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