Hopewell Chin’ono Highlights Bleak Future for Young Zimbabweans in Rising Property Market

Hopewell Chin’ono’s recent reflections on Zimbabwe’s real estate market expose a grim reality for young people aspiring to own homes. With property prices in Harare soaring to an eye-watering $480,000 for modest offerings, the path to homeownership seems nearly impossible for most Zimbabweans.

Once, the promise of a better life was tied to hard work and academic success. Today, economic instability, limited job opportunities, and political turbulence have shifted the goalposts for Zimbabwe’s youth. Chin’ono’s observation raises critical questions about the future in a nation where even professionals, such as doctors, struggle to access basic financial tools like car loans, let alone mortgages.

Zimbabwe’s property prices are symptomatic of broader economic distress. Years of hyperinflation and currency devaluation have drastically reduced purchasing power, making significant investments like housing a distant dream for many. For young people, already grappling with unemployment rates hovering around 19%, owning a home is less a goal and more a mirage.

The stark inequality in Zimbabwe’s housing market is compounded by socio-political instability. Wealth remains concentrated in the hands of a few, with real estate increasingly becoming an asset class reserved for elites and expatriates. Meanwhile, the average Zimbabwean struggles to navigate a market fueled by speculative pricing and a dollarized economy.

A home, as Chin’ono poignantly notes, is more than an asset; it is a basic human need. Yet, in Zimbabwe, the prospect of attaining one has become a Herculean challenge. For a young generation burdened by economic hardships, this signals a profound disconnection between aspiration and reality.

Comparisons to Zimbabwe’s past make the situation even more disheartening. The 1980s and 1990s offered greater stability and hope, with professionals able to save and invest in property. Today, even those in traditionally high-earning sectors are unable to access loans or generate savings sufficient for homeownership.

What lies ahead for Zimbabwe’s youth is uncertain. Without interventions to stabilize the economy and create financial access, the dream of owning property may remain unattainable for most. Chin’ono’s reflections serve as both a critique and a call to action, highlighting the urgent need for systemic reforms to restore hope and opportunity for Zimbabwe’s next generation.