Businesses move away from CBD to residential areas over high rentals

According to the Real Estate Institute of Zimbabwe (REIZ) more business are moving away from the Central Business District (CBD) of major towns and cities and moving to converted units in  residential areas. The businesses are trying to avoid the high rentals charged in the CBD, especially din light of the prevailing econmomic hardships.

Said REIZ president, Mr Siza Masuku:

We have noted especially here in Harare that between 40 to 50 percent of the buildings are being vacated. Most occupants have closed down while some have relocated to cheaper places.

This is because of high rates and rentals being charged in the CBD. Some occupants are being affected by the tough economic conditions and that is why they now favour cheaper rates

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