Zimbabwe's housing market unaffordable; ZWD Exchange Rate

With soaring mortgage interest rates and exorbitant property prices in recent years, the Zimbabwean housing market has become increasingly unaffordable.

Tenants are forced to pay exorbitant rental prices compared to the standard living wage.

Most of the population, especially young people, are unable to enter the property market as a result.

In densely populated suburbs, many young people are forced into multi-room occupancy situations because of this.

Poor public health and infrastructure exacerbate public health crises, such as the current cholera crisis.

Despite its crucial role in maintaining a stable and sound financial system, the Reserve Bank of Zimbabwe appears indifferent to its role.

The Zim Dollar has continued to decrease in value against the US dollar. Citizens are using the US dollar, as is the Zimbabwe government, for transactions.   Today, January 19th, 2024, the rate is as follows: 

1.00 US Dollar =

361.9 Zimbabwean Dollars

1 ZWD = 0.00276319 USD