SEEFF Zimbabwe has called on diasporans to mitigate the risk of losing money by using formal companies when funding property investments back home.
The diaspora community is littered with heart-breaking stories of people who lost their hard-earned money after sending it back home to friends and relatives in the hope of purchasing immovable property only to learn that the funds were diverted for personal use.
Speaking to NewZimbabwe.com ahead of the Zim Diaspora Property Showcase slated for Birmingham, United Kingdom on July 13, Seeff Zimbabwe Managing Director and Licensee, Patience Munetsi - Patongamwoyo called for wise investment strategies.
The event organised by Seeff Zimbabwe will bring together property, legal, and development experts who will give insights on investing in the property market back home. Registration for the event is free.
"A significant challenge for the diaspora is remitting money back to Zimbabwe for property investment. Many prefer informal channels like friends or family, perceiving official channels as expensive. However, this preference often leads to a lot of other complications.
"Our partner, Bard Santner Inc., will address the importance of using formal channels for remitting funds to Zimbabwe for property investment. A key benefit of formal channels is simplified disinvestment. When using official channels, obtaining central bank clearance to repatriate funds becomes much easier," she said.
Such realisations, Patongwamoyo said, prompted interest to organise the showcase and take the opportunity to enlighten citizens on property dealings.
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The Seeff MD said property purchases have also been hugely composed of diaspora landlords and have grown significantly over the years.
"It is for this reason that Seeff has focused on understanding the diaspora community's needs. We identified a lack of trust due to past investment losses through family and land barons. Additionally, the diaspora has specific property investment preferences and access to financing was a recurring concern," she said.
Patongamoyo said Seeff Zimbabwe is also looking at providing property management services to those who already have properties in Zimbabwe. The real estate company also provides valuation services to those looking to have their properties valued as well as advisory services for those who have property investments that they are not sure what to do with.
"Prospects of property ownership back home are very lucrative for the fact that this is home and one day you will want to return and also for investment purposes because the ROI is good," she said.
Founded in 1964, Seeff has grown from a small, family-owned business into one of Southern Africa's leading property and real estate companies, with over 100,000 active buyers, 200 branches, and over 1200 agents across South Africa, Namibia, Botswana, Zimbabwe, Zambia, Eswatini, Mauritius. DRC, Mozambique and we have just launched the UAE chapter which is headquartered in Dubai.
The group will be celebrating its 60th anniversary this year.
Incorporated in 2014, Linkgate Investments (Pvt) Ltd T/A Seeff Properties Zimbabwe is a private estate agent company registered with the Estate Agents Council, The Real Estate Institute of Zimbabwe and the Valuers Council of Zimbabwe.
