Published: 03 October 2017

Zimbabwe's leading housing financiers provided mortgages worth $45 million during the first half of 2017 with the bulk of the advances financing new units.

The Zimbabwe Association for Housing Finance (ZAHF) has said new mortgage advances have mainly been directed towards new housing units in line with the national objective to increase the country's housing stock.

The current national estimate of housing requirements stands at 1,25 million housing units, and growing. ZAHF said its members have since advanced more mortgages in the first six months of the year than it advanced in the full year of 2016.

As a result, the value of the mortgages also increased. ZAHF said demand for housing is mainly concentrated in the low income end of the market where illegal settlements have mushroomed posing a challenge of unhealthy habitats.
- the herald

You might also want to read this

• Mortgage lending rates too steep