For China’s Rich, the New Must-Have Is a Luxury Home in Zimbabwe

Chinese buyers are finding bargain mansions — and a discreet place to move money — in Harare, a city shaped by colonialism and cricket.

On the main road through the affluent suburb of Highlands in Zimbabwe’s capital, Harare, a billboard displays a beaming young Chinese family standing outside a newly built house.

The sign reflects Chinese buyers’ growing demand for upmarket residences, which cost about $500,000 to $2 million, in the city’s prime neighborhoods, according to interviews with several real estate brokers. At least two estate agencies — Pam Golding Properties and Guest and Tanner — have hired Mandarin speakers to assist the new customers.

This surge in demand from Chinese investors is driving up prices for upscale residences, particularly in prime neighborhoods like Borrowdale and Highlands.

Some buyers are factoring in feng shui principles during their searches for homes that often include large plots, swimming pools, and high-security features.

Despite the decline in municipal infrastructure, the properties sought after often feature self-contained, independent amenities like solar power and boreholes.

The surge is fueled by investments in lithium mining, steel, and agriculture, as well as a strategic push for Chinese firms to reinvest local earnings within Zimbabwe.

The Zimbabwe government has encouraged Chinese firms operating in the country to reinvest their earnings into local real estate rather than repatriating them, furthering this trend.

Chinese investors are also targeting industrial land and investing in commercial developments like hotels and office blocks.

The surge in demand is part of a larger, long-standing “Look East” policy, which has deepened economic ties between Zimbabwe and China.