Gweru forced to slash residential stands prices

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THE Gweru City Council has been forced to reduce the selling prices of its residential stands in Northlea low-density suburb following massive resistance triggered by a $2 per square metre price hike.

BY OWN CORRESPONDENT

Low-density Surburbs
Gweru City Council has been forced to reduce the selling prices of its residential stands.

According to the latest report by the city’s acting director of housing and community services, the local authority recorded zero sales after it increased the prices from $18 666,27 to $23 970,17 for each of the 30 stands on offer.

“It would be recalled that council availed 30 low-density residential stands in Northlea,” the report reads.

“Out of the 30, only 20 were taken. The price then was at $3 per square metre.”

The remaining 10 stands were not purchased after council resolved to sell low-density residential stands at $5 per square metre.

“It appears the new prices are scaring away buyers as and when they come to inquire,” council noted.

Gweru has since recommended that the stands, measuring about 2 300m² each, be sold at the old price of $3 per square metre while council re-advertises the stands in the local Press.

1 COMMENT

  1. Your math is not adding up hey. If the stands are going for $2 per sqm, and they are about 2300sqm each, then how come the price is $19,000???

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