Property Prices in Chongwe Set for Growth
In investment terms, property in Lusaka over the last twenty years has been a sound choice. A shortage of housing and a lack of retail leisure facilities have driven a boom in pricing as the growth of the Zambian economy outpaced many of its sub-Saharan counterparts.
The general trend has been that a suburb grows in popularity, causing an incremental rise in land prices as demand for accommodation and auxiliary services in that area increases. Roma (Roma Park being a good example), Lilayi and Makeni, then Leopard’s Hill and New Kasama, have all seen this trend, which tends to be more pronounced in areas where there is large tracts of previously undeveloped or agricultural land. As demand grows, and housing develops, so too do leisure and retail services, resulting in further increases in value.
As each area approaches it’s practical saturation point, the city turns to a new frontier. And the newest frontier? Chongwe and the North-East.
With the massive re-development programme underway at the Kenneth Kaunda International Airport, three new Malls (including Waterfalls and Garden-City), a golf course at Bonanza, property along the Airport-Chisamba Lusaka by-pass is set to rise significantly in value over the next five years – and this will only be strengthened by the Minister of Finance’s recent affirmation of the Government’s commitment to a Lusaka – Copperbelt dual carriageway.
But how might prospective investors avoid the biggest challenges to future property values in the areas they choose: poor zoning and a lack of control of what an immediate neighbour might choose to construct, increased commercialization, water and natural resource challenges?
During a boom period, property owners and investors may turn a blind-eye to these issues, but the instant a recession or dip in property prices hits, areas facing these challenges are the first to depreciate. That’s where Chaminuka Wildlife Estates stands out. A home in the Estates isn’t just a case of jumping on the latest escalating price trend. It is a sustainable future, in a park whose eco-system has been carefully managed for over 40 years, where the stability and worth of the investment is virtually guaranteed.
Property prices in areas that are carefully managed are always stronger than competing areas – even more so in the event of a recession. And Chaminuka Wildlife Estates is so much more than that. An amazing natural habitat, a lake with excellent leisure facilities on your doorstep, access to the full range of amenities and entertainment that Chaminuka Game Reserve has – and the chance that at any point a giraffe might amble past while you sip your morning coffee. Don’t take our word for the rare investment opportunity that this is though – come and see it for yourself. You won’t regret it.
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