Macro-economic Data

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      A. Demography and Macroeconomy

      A.1 Population
      VariableEnd of 2015End of 2014End of 2013SourcesVar ID
      Total population14.15 million13.86 million13.56 million
      WDI
      		A.1.1
      Total number of households  3.06 millionA.1.2
      Average household size  4.2A.1.3
      Urban population (% of total)32.39% of total32.5% of total32.65% of total
      WDI
      		A.1.4
      Urban population growth (annual %)1.77%1.73%1.61%
      WDI
      		A.1.5
      A.2 Economy
      VariableEnd of 2015End of 2014End of 2013SourcesVar ID
      GDP, current prices (U.S. dollars)19,969 USD (millions)19,499 USD (millions)19,093 USD (millions)
      WEO
      		A.2.1
      GDP based on PPP valuation of country GDP (Current international dollar)37,028 USD (millions)35,502 USD (millions)34,191 USD (millions)
      WEO
      		A.2.2
      GDP per capita, current prices (U.S. dollars)1,425.47 USD 1,415.28 USD 1,421.7 USD
      WEO
      		A.2.3
      GDP based on PPP per capita GDP (Current international dollar)2,643.16 USD 2,576.74 USD 2,545.91 USD
      WEO
      		A.2.4
      GDP, constant prices (Percent change)1.79%2.39%1.98%
      WEO
      		A.2.5
      Inflation, end of period consumer prices (Percent change)-2.47%-.8%.33%
      WEO
      		A.2.6
      GDP, deflator (Index)109.77109.11109.39
      WEO
      		A.2.7
      Consumer price index106.21108.86109.08
      WDI
      		A.2.8
      GINI Index  43.20
      WDI
      		A.2.9
      Growth in urban household income (%/year)A.2.13
      Employment (% of total laborforce)A.2.14
      Informally employed  95%
      Industry Psychology Salary Survey Report May 2011
      		A.2.14.2
      Unemployed  11.6%
      Zimstat
      		A.2.14.3
      Interest Rates:A.2.15
      Central bank lending/discount rate  Not available
      IFS
      		A.2.15.1
      Yield on 3 months treasury bills  Not available
      IFS
      		A.2.15.2
      Yield on 10-year Government bond  Not available
      IFS
      		A.2.15.3
      Average bank deposit rate6.7%10%10%
      RBZ
      		A.2.15.4
      Lending rate8.54%9.47%9.74%
      RBZ
      		A.2.15.5
      B. Housing Market
      B.1 Housing Stock: Production, Transactions
      VariableEnd of 2015End of 2014End of 2013SourcesVar ID
      Number of dwelling units:B.1.1
      Characteristics of housing stock:B.1.3
      Average dwelling unit size-existing  Not available
      City of Harare Operative Town Planning Schemes and Local Development Plans
      		B.1.3.1
      % of substandard dwelling units  37% of total
      Ministry of Local Government and Social Amenities
      		B.1.3.2
      Tenure in urban areas (%):B.1.4
      Owner-occupied units  58.6% of total
      ZIMSTAT
      		B.1.4.1
      % of owner units with a mortgage  Not available
       
      		B.1.4.2
      Estimated Number of units completed/yearB.1.5
      B.2 Housing Prices and Cost for Urban Areas or Capital City
      VariableEnd of 2015End of 2014End of 2013SourcesVar ID
      Median urban house price in USD:B.2.1
      Existing housing  196,000 USD
      CBZ
      		B.2.1.2
      Median house price to median annual HH income:B.2.2
      Annual average % change in median house prices:B.2.3
      M2 construction cost for median quality houseB.2.4

      back to top | Country Data:
      Notes: 15 % Value added tax on rental income
      Notes: 15 % Value added tax on rental income
      Notes: 15 % Value added tax on rental income
      Notes: 15 % Value added tax on rental income
      Notes: 2010 = 100
      Notes: 2010 = 100
      Notes: 2010 = 100
      Notes: 2010 = 100
      Notes: 2010 = 100
      Notes: 2010 = 100
      Notes: 2010 = 100
      Notes: 5-10 years. The shorter tenure in current years is due to liquidity constraints.
      Notes: 5-10 years. The shorter tenure in current years is due to liquidity constraints.
      Notes: All loans are variable and indexed.
      Notes: All loans are variable and indexed.
      Notes: All loans are variable and indexed.
      Notes: All loans are variable and indexed.
      Notes: All mortgage loans acquired prior to the introduction of the multicurrency system , were eliminated due to inflation.
      Notes: Also required is a house-owner's comprehensive insurance
      Notes: Also required is a house-owner's comprehensive insurance
      Notes: Also required is a house-owner's comprehensive insurance
      Notes: Also required is a house-owner's comprehensive insurance
      Notes: Also required is a house-owner's comprehensive insurance
      Notes: Also required is a house-owner's comprehensive insurance
      Notes: Approximate
      Notes: Approximate value
      Notes: Approximate value
      Notes: Approximate value
      Notes: Approximate value
      Notes: Approximate value
      Notes: Approximate value
      Notes: Approximate value
      Notes: Approximate value
      Notes: Association of Building Societies lobbies both the government through the Ministry of Finance, Ministry of local government, and Ministry of Housing and Social Amenities as well as the Central Bank.
      Notes: Building Societies have set a maximum of 75% but can go as low as 50% depending on risk appetite as well as prevailing economic factors.
      Notes: Building Societies have set a maximum of 75% but can go as low as 50% depending on risk appetite as well as prevailing economic factors.
      Notes: Building Societies have set a maximum of 75% but can go as low as 50% depending on risk appetite as well as prevailing economic factors.
      Notes: Building Societies have set a maximum of 75% but can go as low as 50% depending on risk appetite as well as prevailing economic factors.
      Notes: Capital gains are treated as income and taxes are levied at the same progressive rates.
      Notes: Capital gains are treated as income and taxes are levied at the same progressive rates.
      Notes: Capital gains are treated as income and taxes are levied at the same progressive rates.
      Notes: CBZ offers the CashPlus - Housing Account which is a high interest earning savings account for those with low-income and saving up to buy a home. The client saves for half the price of the home and the Bank matches that amount in the form of a loan.
      Notes: CBZ offers the CashPlus - Housing Account which is a high interest earning savings account for those with low-income and saving up to buy a home. The client saves for half the price of the home and the Bank matches that amount in the form of a loan.
      Notes: CBZ offers the CashPlus - Housing Account which is a high interest earning savings account for those with low-income and saving up to buy a home. The client saves for half the price of the home and the Bank matches that amount in the form of a loan.
      Notes: CBZ offers the CashPlus - Housing Account which is a high interest earning savings account for those with low-income and saving up to buy a home. The client saves for half the price of the home and the Bank matches that amount in the form of a loan.
      Notes: CBZ offers the CashPlus - Housing Account which is a high interest earning savings account for those with low-income and saving up to buy a home. The client saves for half the price of the home and the Bank matches that amount in the form of a loan.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: CBZ was 100% acquired by the government of Zimbabwe in 1991 due to financial difficulty. The government is no longer the sole owner but it does have the second largest share.
      Notes: Employer-assisted housing schemes
      Notes: Employer-assisted housing schemes
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: FCB was formed in 1990.
      Notes: If a household size of 4 is assumed
      Notes: If a household size of 4 is assumed
      Notes: If a household size of 4 is assumed
      Notes: If a household size of 4 is assumed
      Notes: Informal institutions and building materials suppliers
      Notes: Legal constraints pertain to the fixed term advance, where the advance should not be for more than 5 years.
      Notes: Legal constraints pertain to the fixed term advance, where the advance should not be for more than 5 years.
      Notes: Legal constraints pertain to the fixed term advance, where the advance should not be for more than 5 years.
      Notes: Legal constraints pertain to the fixed term advance, where the advance should not be for more than 5 years.
      Notes: Legal constraints pertain to the fixed term advance, where the advance should not be for more than 5 years.
      Notes: Legal constraints pertain to the fixed term advance, where the advance should not be for more than 5 years.
      Notes: mandatory
      Notes: mandatory
      Notes: mandatory
      Notes: mandatory
      Notes: mandatory
      Notes: mandatory
      Notes: National housing backlog of 1.25 million , i.e. 5 million citizens or 37% of Zimbabwe's population may live in substandard housing.
      Notes: No lending due to inflation.
      Notes: on all loans
      Notes: on all loans
      Notes: Pension funds i.e National Social Security Authority (NSSA), Local Authority Pension Fund, Mining Industry,Communication Allied pension fund, almost all pension funds offer mortgages to their contributors.
      Notes: Pension funds include local authority pension funds and mining industry pension funds. Labor tax funds include National Social Security Authority.
      Notes: Pension funds include local authority pension funds and mining industry pension funds. Labor tax funds include National Social Security Authority.
      Notes: Pension funds include local authority pension funds and mining industry pension funds. Labor tax funds include National Social Security Authority.
      Notes: Pension funds include local authority pension funds and mining industry pension funds. Labor tax funds include National Social Security Authority.
      Notes: Presently at 20% of the capital gain if transaction was done during the multi-currency regime and 5% of the purchase price if it was done in the Zimbabwean dollar era.
      Notes: regulated by the central bank
      Notes: regulated by the central bank
      Notes: regulated by the central bank
      Notes: regulated by the central bank
      Notes: regulated by the central bank
      Notes: regulated by the central bank
      Notes: Rental income is considered as income and taxes are levied at standard progressive rates.
      Notes: Rental income is considered as income and taxes are levied at standard progressive rates.
      Notes: Security- property should be titled
      Notes: Security- property should be titled
      Notes: Security- property should be titled
      Notes: Security- property should be titled
      Notes: Security- property should be titled
      Notes: Security- property should be titled
      Notes: Since resumption of mortgage lending in 2010 to March 2011 the 4 building societies advanced 3000 loans with a value of USD $146 million.
      Notes: Stamp duty is levied on property transfer.
      Notes: Stamp duty is levied on property transfer.
      Notes: Stamp duty is levied on property transfer.
      Notes: Stamp duty is levied on property transfer.
      Notes: Standard sizes range from 150 sq.mt to 500 sq.mt for High Density, from 500 sq.mt to 1,000 sq.mt for medium density and over 1,000 sq.mt for low density
      Notes: Statistics for all loans
      Notes: Statistics for all loans
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The FBC Building Society was incorporated as Zimbabwe Building Society in 1992. In 2005, the institution changed its name to FBC BS after being acquired by FBC Holdings and the National Social Security Authority.
      Notes: The legal fees include registration fees which are calculated as a percentage of the loan amount at approximately 3%.
      Notes: The legal fees include registration fees which are calculated as a percentage of the loan amount at approximately 3%.
      Notes: The legal fees include registration fees which are calculated as a percentage of the loan amount at approximately 3%.
      Notes: The legal fees include registration fees which are calculated as a percentage of the loan amount at approximately 3%.
      Notes: The stamp duty tax ranges from 1 to 4%, depending on the value of the property. This transaction cost is paid by the buyer.
      Notes: The stamp duty tax ranges from 1 to 4%, depending on the value of the property. This transaction cost is paid by the buyer.
      Notes: The stamp duty tax ranges from 1 to 4%, depending on the value of the property. This transaction cost is paid by the buyer.
      Notes: There are 15 commercial banks, 5 merchant banks, 4 Building Societies (initially they were 5 then one was closed by the Regulatory authorities),1 savings bank, 16 asset management companies and 114 microfinance institutions. Mortgages are mostly funded by Building Societies.
      Notes: These are verification fees charged by the Registrar of Deeds for deeds search.
      Notes: These are verification fees charged by the Registrar of Deeds for deeds search.
      Notes: These are verification fees charged by the Registrar of Deeds for deeds search.
      Notes: These are verification fees charged by the Registrar of Deeds for deeds search.
      Notes: These fees are transfer fees which are calculated as per percentage of purchase price approximately 7%
      Notes: These fees are transfer fees which are calculated as per percentage of purchase price approximately 7%
      Notes: These fees are transfer fees which are calculated as per percentage of purchase price approximately 7%
      Notes: These fees are transfer fees which are calculated as per percentage of purchase price approximately 7%
      Notes: To enable those with low-income, building societies collaborate with employers to provide mortgage loans at subsidized rates.
      Notes: USD $25.00 for indivudual applications and $200 for commercial applications.
      Notes: USD $25.00 for indivudual applications and $200 for commercial applications.
      Notes: Valuation fees 1-2% of loan amount , administration fees 2-5% of loan amount
      Notes: Valuation fees 1-2% of loan amount , administration fees 2-5% of loan amount
      Notes: Value is 1,175.00
      Notes: Value is 103.21
      Notes: Value is 110
      Notes: Value is 121.50
      Notes: Value is 125.68
      Notes: Value is 131.81
      Notes: Value is 185.11
      Notes: Value is 203.38
      Notes: Value is 235.68
      Notes: Value is 248.77
      Notes: Value is 278.92
      Notes: Value is 300
      Notes: Value is 322.36
      Notes: Value is 496.46
      Notes: Value is 500
      Notes: Value is 521.15
      Notes: Value is 540
      Notes: Value is 578.96
      Notes: Value is 975
      Notes: very small number
      Notes: very small number
      Notes: very small number
      Notes: very small number
      Notes: WEO estimate
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2017
      Notes: WEO estimate start after 2021
      Notes: WEO estimate start after 2021
      Notes: Zimbabwe is on a multi-currency regime and has no locally denominated currency loans.
      Notes: Zimbabwe is on a multi-currency regime and has no locally denominated currency loans.
      Notes: Zimbabwe is on a multi-currency regime and has no locally denominated currency loans.
      Notes: Zimbabwe is on a multi-currency regime and has no locally denominated currency loans.
      Notes: Zimstat defines "employed" as being productive and earning income in the field of activity