US$44,000 Mbare House Listing Triggers Fierce Debate Over Zimbabwe's Soaring Property Prices

By Maitengwe Post
A house listed for **US$44,000** in Harare's high-density suburb of Mbare has sparked widespread debate on social media, with Zimbabweans divided over whether the asking price reflects the country's booming property market or is significantly overpriced.

The discussion was ignited after journalist Adam Theofilatos questioned the valuation of the property in a post on X, saying he was surprised by the price despite not being a property expert.

"I don't claim to be a property expert but who is going to pay US$44,000 for this 'house' in Mbare? I am shocked," he wrote.

His comments quickly gained traction, attracting thousands of views and hundreds of responses from property owners, estate agents, investors and ordinary Zimbabweans.

Mixed Reactions Over the Asking Price

Many social media users argued that the house was overpriced, with some claiming the value of the ageing structure did not justify the asking price.

One user, who identified himself as a property expert, argued that the property should be worth no more than US$18,000.

Another suggested that buyers would likely demolish the existing structure, saying the listing should be marketed as a stand rather than a house.

"That structure just needs to be knocked down completely and developed afresh," the user commented.

However, others disagreed, insisting that the property's value lies in its location and redevelopment potential rather than the condition of the building itself.

Investors Say Mbare Remains a Property Hotspot

Property investors and estate agents defended the valuation, arguing that Mbare continues to attract buyers because of its proximity to Harare's central business district and its strong rental market.

One investor claimed demand for properties in the suburb remains high.

> "By the time you finish typing this house might have gone. I personally renovated at least five houses in Mbare. There is serious demand for these houses," he said.

Another estate agent argued that Mbare offers some of the highest rental returns in Harare's high-density suburbs.

"Mbare has the highest gross rental yield on ghetto houses. This house will sell in a day. You can get US$1,000 or more per month if the house is renovated properly," he claimed.

Several contributors also noted that buyers are often paying for the land, as many older homes are demolished to make way for modern residential or commercial developments.

Hopewell Chin'ono Raises Affordability Concerns

Journalist Hopewell Chin'ono also weighed in on the debate, arguing that the listing highlights Zimbabwe's growing housing affordability crisis.

Sharing the listing on X, he pointed to the widening gap between property prices and average incomes.
"This house is up for sale in Mbare... It is on the market for US$44,000."

He also noted that a Zimbabwean university professor reportedly earns around **US$300 per month** and argued that the absence of accessible mortgage financing forces many homebuyers to purchase property using cash.

The debate has continued online, with some Zimbabweans viewing rising property prices as evidence of a resilient real estate market, while others argue that home ownership is becoming increasingly unattainable for ordinary citizens.