Off-Plan Projects Are Booming, But Are They Worth the Risk?
Across Zimbabwe’s growing property landscape, one trend stands out: off-plan projects, homes sold before they’re built, are on the rise. From Harare’s northern suburbs to Marondera’s emerging estates, developers are using glossy renders and flexible payment plans to attract both local buyers and the diaspora.
The premise is simple: buy early, pay in stages, ride the appreciation. Easy, right?
But here’s the question every buyer should ask: If the project never hands over, what happens then?
Why Off-Plan Is Taking Off
In an economy where access to mortgage finance is limited and construction costs are volatile, off-plan offers something rare: flexibility.
Developers use pre-sales to fund construction, while buyers lock in prices early and pay in stages.
For many Zimbabweans, especially those abroad, this model feels like a lifeline into property ownership.
Common draws include:
Lower entry prices compared to completed homes
Staged payments over 12–36 months
The ability to customize layouts and finishes
Potential capital appreciation by the time the project is complete
“It’s the only way to match people’s incomes to the real cost of building. The buyer gets time, the developer gets liquidity.”
The numbers tell the story:
Zimbabwe’s residential property market is estimated to be worth US$85.35 billion in 2025, and is expected to grow to around US$104 billion by 2029.
In Q4 2024 alone, the real-estate sector pulled in roughly US$2 billion in projected investment approvals, the largest share of any sector that quarter.
Diaspora inflows are key: Remittances to Zimbabwe reached about US$2.2 billion in 2024, up 22 % from 2023, and a substantial portion is finding its way into property.
Off-plan sales are rapidly rising: In 2024, nearly 48% of units in new residential estates listed on Property.co.zw were off-plan.
Off-plan listings in 2025 show typical unit pricing around:
2-bed cluster home: US$50,000–75,000
3-bed townhouse: US$85,000–130,000
The takeaway: Developers have found a formula: off-plan + staged payments + diaspora cash = growth. And buyers are scrambling to lock in early.
The Risks Beneath the Render
But every opportunity comes with risk — and off-plan is no exception.
Many buyers underestimate what can go wrong:
Delivery delays due to cash flow constraints or import bottlenecks
Price adjustments when currency values shift mid-project
Quality gaps between the render and the final product
Title and ownership issues when developers cut legal corners
And because Zimbabwe still lacks formal off-plan regulation, buyers often rely on developer reputation and goodwill — not escrow protections or insurance.
“It’s a market built on trust, when that trust breaks, everyone gets nervous.”
Several structural concerns are worth flagging:
1. Weak regulation. There is no formal off-plan regulatory framework in Zimbabwe that requires escrow or independent oversight.
2. Paperwork and servicing gaps. Sub-standard documentation, incomplete servicing (roads, sewer, power), and ambiguous handover terms are recurring problems. For instance, many estates launched are still missing essential infrastructure years after “opening”. 
3. Investor mindset vs builder economics. One LinkedIn contributor estimated that a 3-bed stand plus block build (US$80k) with monthly rent of $400 would take 17–20 years to break even under ideal conditions. 
There’s a gap between expectation and execution, and that gap is where risk lives.
A Market Driven by Demand and Scarcity
According to Knight Frank’s Africa Horizons 2024 report, Zimbabwe’s urban housing backlog exceeds 1.5 million units, with private developers now filling the gap left by limited state delivery. Demand is particularly strong for compact, secure housing priced between US$35,000–US$80,000, often structured as multi-phase off-plan projects.
Economic factors also play a role. With few reliable investment vehicles and volatile local markets, real estate has become the de facto store of value. Developers are tapping into this psychology, offering installment-based payment plans that appeal to diaspora buyers and local professionals priced out of ready-built homes.
However, according to a 2023 report by the Zimbabwe National Real Estate Institute, as many as 40% of off-plan buyers experience delivery delays exceeding 18 months, and nearly 1 in 5 projects fail to reach completion due to cash flow issues or poor project management.
Practical Checklist for Smart Buyers
If you’re considering an off-plan purchase, here are questions you should ask (and answers you should demand):
Developer track record: How many units have they successfully handed over in the last 3 years? Key word, “successfully”.
Payment structure: Is the buyer funding the core build or just appendages?
Land & servicing status: Is the land titled? Are roads, water, and sewer in place or promised?
Progress visibility: Can you get photos, videos, or live updates of construction?
Exit clarity: What happens if the project doesn’t complete on time? Are there penalties or alternative offers?
The Bigger Picture
Off-plan isn’t inherently bad — it’s just unverified.
The concept works beautifully in regulated markets where escrow systems, developer vetting, and buyer protection exist.
In Zimbabwe, the trust layer is what’s missing. Whoever builds those guardrails wins the market.
Because the future of real estate here won’t be about who sells more land.
It’ll be about who delivers clarity, credibility, and confidence.
The Horizon Ahead
The demand side looks strong: lack of formal mortgage finance, land scarcity, and remittances continue to push buyers toward off-plan models. But the question facing the market is this: will Zimbabwe’s off-plan sector evolve into a trusted investment channel, or remain a high-risk, high-reward frontier?
If developers and stakeholders can raise standards, deliver infrastructure, ensure transparency, and protect early buyers, the “blueprint to ownership” narrative could become genuine.
Until then: proceed with healthy scepticism.
WHERE ONBOULEVARD COMES IN
At onBoulevard, we’re tracking this shift closely. Our role is to help buyers, developers, and investors see the full picture through verified listings, behind-the-scenes reporting, and transparent storytelling.
We aim to spotlight credible developments, highlight red flags, and bring design, architecture, and property data into one place so you can make decisions based on facts, not just renderings.
We believe the future of Zimbabwean real estate isn’t just about what’s being built, but how it’s being built and whether the promises made today will stand tomorrow.
CLOSING
Off-plan development isn’t going anywhere; in fact, it’s set to grow. As long as Zimbabwe’s property financing remains underdeveloped, developers will continue using pre-sales to raise capital.
The question is not whether off-plan projects should exist, but how they can become safer, more transparent, and better regulated. Introducing escrow accounts, developer registration databases, and third-party progress verification could dramatically improve confidence in the sector.
So as the market evolves and expectations rise, remember: It’s not just about building projects anymore.
It’s about building trust: brick by (verified) brick.
— Zivanai
Founder, onBoulevard
NEXT STEPS
Developers/Agents: Want your property verified and packaged in a way that speaks the language of serious buyers and investors?
Submit your listing for an Investor ROI Memo
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Reply to this email with a property link, and we’ll show how an Investor ROI Memo would frame it.
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