I used to know Zimbabwe quite well but stopped going their five or six years ago when I was refused a visa. I used to recruit Zimbabweans to take up employment in the UK.

Now I know about the official and the unofficial exchange rates and I know that many Zimbs who have left the country have re-invested their pounds or dollars there. I know that Harare prices are high when this is taken into account.

Assuming something actually happens and Mugabe looses power many Zimbabweans from outside the country will invest or return. There should be a massive flood of foreign aid and then genuine investment. Note the proposed Anglo-American investment which is currently being called into question for political reasons...and rightly so.

Harare is a beautiful city with some wonderful suburbs. It also has extreme poverty and it is the middle class which in the main has been excommunicated. It has climate, the Victoria Falls and the Zambezi. It also used to be the grainbin of Africa.

PS has consistently followed the track of post-communist development within Europe. But all the symptoms that existed in 1989 are there in Zimbabwe right now. Revolution pending; the rest of the world owes a debt for doing nothing; great economic potential; strong support from nationals who have fled the country etc etc.

Whilst opportunities still exist European property seems to have a malaise right now. Whilst Zimbabwe is extremely complex I'm just wondering if PS would consider it to be a special situation worthy of both investment and potential exploitation?

I'm just thinking that if the official exchange rate moves to becoming a real one prices in Zim will be extremely low and that early when Zanu owners want to desperately sell is the time to get in and ride a roller coaster. What does PS think?

Kind regards

Charles

sounds interesting, and i'm sure i'm not alone in wishing zimbabwe a change of regime and luck. but as PS has steered clear of booming (and more stable) brazil, argentina, india, etc., i can't see them taking the plunge with zimbabwe for a long while. if they were looking at africa surely one of the more stable oil producers (ghana?) would be a better bet?

regards,
dan

Zimbabwe may be an option for brave investors in the future. I will not put my money there now, but am monitoring developments there. I can not imagine that Property Secrets will consider Zimbabwe at this stage (too high risk)

I have seen other articles being more upbeat about Zimbabwe e.g. the following article, which states that Zimbabwe is nr. 1 on the list of best places to invest with a return of 111%.

http: / /groups .yahoo .com /group /BdOsint /message /4979


I recently spoke to a couple living in the UK (originally from Zimbabwe) who bought a large, luxury 5 bedroom house in Zimbabwean Dollars (for the equivalent of 100 000 pounds). When they eventually transferred the money, they only needed 35 000 pounds. This was due to the fact that the Zimbabwean Dollar weakened against the Pound in the period between the signing of the contract and transferring the money. The couple however said it is becoming increasingly difficult to do this (estate agents increasingly sell houses for cash or in USD to prevent this situation – especially if you do not have a Zimbabwean passport).

Best regards

Erik

Just to clarify - The 111% was on stock, not property

I met a guy from Zimbabwe who bought around 3 years ago. He said that his mortgage now is about £100!

I am actually from Zimbabwe myself and at this stage I think its just too risky. Property returns are very high can be 50% returns in Zim Dollar value in less than 3 months, but the issue is if you sell today in Zim Dolllar the rate of exchange changes every day or even twice a day which in the end will result in a loss to convert the zim dollar into pounds. The black market rate as of today is about 1£ to 75Billion Zim Dollars.

Its a good idea if you want to invest there for now and use the money in Zim Dollars or try and sell it in US or Pounds which is difficult and the government doesnt want this either.

Any questions you have regarding Zim I am very willing to help you with some info.