Exorbitant prices stalling the housing market

The continued spiralling of property prices has become a challenge to sellers as customers can no longer afford investing in housing.

The Real Estate Institute of Botswana President Modiredi Maruping told a First National Bank of Botswana (FNBB) stakeholder discussion in Gaborone this week that sellers are concerned that property stays in the market for a long time because prices are very high.

“An affordable housing market no longer exists because there is limited land, and if there is any, it is not serviced so this results in developers raising prices high,” he said.

Editor's Comment
Watch your tongue Mr President

While his leadership has brought about significant progress and development, it is imperative that he exercises greater caution in his choice of words, particularly when addressing sensitive matters.One of the primary concerns is the potential impact of his remarks on Botswana’s relationship with De Beers, the diamond mining giant that plays a crucial role in the nation’s economy.The partnership between Botswana and De Beers has been mutually...

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