Low demand stifles property market

MASHONALAND Holdings (Mash Holdings) says the property market remains hamstrung by lethargic demand across all sectors of the market owing to low economic activity in the economy.
The property investment and development firm said whilst the Covid-19 restrictions eased during the half year ended June 30, 2022, the prevailing global headwinds and internal fiscal and monetary policy issues have delayed full economic recovery.

“Despite the faltering economic activity, the occupier sub-market’s retail and industrial sectors have remained relatively resilient. The tourism sector has also been positively impacted by the easing of Covid-19 restrictions, resulting in an improvement in hotel occupancies. The office sector however remains subdued, particularly in the CBD, with new lettings being recorded through innovative solutions providing flexible and miniaturised office space,” Mash Holdings chairperson Grace Bema said in a statement accompanying fina