Infrastructure Development and Property Sales in Low Income Residential Properties in Bulawayo

Average Chigwenya () and Dube Desire
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Average Chigwenya: Department of Landscape Architecture and Urban Design, National University of Science and Technology, Bulawayo, Zimbabwe
Dube Desire: John Pockock Real Estate, Bulawayo, Zimbabwe

Baltic Journal of Real Estate Economics and Construction Management, 2019, vol. 7, issue 1, 123-134

Abstract: There is a usual positive correlation between infrastructure development and property sales, because infrastructure development has positive externalities on property sales. However, in Bulawayo this correlation is not usually present in all aspects of properties transactions. The research seeks to find out the trends in infrastructure development and property sales in the city of Bulawayo. The research also aims to unearth some of the factors other than infrastructure development that determine property values in Bulawayo’s low-density suburbs. The research took a mixed methods approach to data collection where both qualitative and quantitative methodologies were utilised. Questionnaires were administered to the people in low income areas of Pumula, Cowdrey Park and Emganwini. In depth interviews with key informants in the real estate sector were conducted to cross fertilise and enrich the inquiry. The research found out that in most cases there is a strong correlation between infrastructure development and property sales, but in some cases, this is not the case as some forces are put in play to distort the market play. The research also discovered that apart from infrastructure, property sales in Bulawayo’s low-income residential suburbs are also affected by income, supply of houses and demand for these houses. In Bulawayo, there are bottle-necks in the supply of houses and this has distorted the market because people are taking whatever there is on the market at any price. This has reduced the influence of infrastructure development on property sales.

Keywords: Infrastructure development; Property values; Property market; Valuation (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:bjrecm:v:7:y:2019:i:1:p:123-134:n:8

DOI: 10.2478/bjreecm-2019-0008

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