Bloomberg: Wealthy Chinese have flooded into the capital of Zimbabwe, Harare.
Wealthy Chinese have been actively purchasing elite housing in the capital of Zimbabwe, Harare. This is reported by Bloomberg.
According to realtors, the demand for homes priced from $500,000 to $2 million in prestigious areas of Harare, such as Highlands and Borrowdale Brook, has increased to the point that agencies are forced to seek employees who speak Chinese. It is noted that transactions often occur in cash, giving buyers strong positions in negotiations and allowing them to bypass strict currency controls.
The arrival of top managers and entrepreneurs in Zimbabwe is not coincidental: Chinese companies dominate the country's lithium industry, investing in energy, banking, and infrastructure. Additionally, Chinese restaurants, shopping centers, and casinos are emerging in Harare.
Some long-time residents of elite neighborhoods are unhappy with the situation: new owners are actively renovating historic homes, ignoring construction regulations. Others, however, are completely satisfied with the current arrangement, as investments began just when Western capital largely left the country due to debt issues and past hyperinflation.
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