Chongwe’s Property Prices in Zambia Expected to Rise
Zambian economy is set to experience boom as investors have noted the growing shortage of housing facilities which could lead to the rise in pricing. Zambia’s economy has significantly improved compared to its counterparts in the sub-Saharan region. As suburbs become more popular, there is a notable increase in demand for auxiliary services and accommodation in places such as Roma, The Leopards’ Hill, Lilayi, Makeni and New Kasama. These areas were previously undeveloped agricultural places, and it is evident that retail services keep developing as housing facilities are increased, and demand for leisure facilities is also on the rise. The value of land is therefore anticipated to increase.
Since the state has many re-development plans, the value of land and economy is expected to increase as a result of the construction of property along the Airport-Chisamba Lusaka by-pass, the Kenneth Kaunda International Airport, the golf course at Bonanza and three new malls. Investors are therefore required to be observant as they consider some challenges such as lack of control over what immediate neighbors might consider constructing, availability of natural resources, water and electricity and also poor zoning.
Where the property prices are managed, for instance, Chaminuka Wildlife Estates, the economy is always strong. The area has magnificent natural features and nice leisure facilities. You will not regret visiting such places as you have the opportunity of viewing giraffes and other animals. The property stands out as it has a park whose ecosystem has been well managed for more than 40 years.