MASHONALAND Holdings (Masholds) says the property sector was subdued during the quarter to March 31, 2022, with low demand for space, particularly in the Central Business District.
In a trading update, the company said the passive property market was mainly attributable to low economic activity and inflation-induced erosion of purchasing power and disposable incomes.
“The development sub-market continues to witness limited investments due to constrained liquidity available in the market to support significant property developments.
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