Harare — Marble Properties, a real estate consultancy, has positioned itself for growth on the back of the promising economic environment being ushered in by the new political dispensation.



Managing director Milton Marufu said his company was buoyed by prospects of an economic turnaround as signs of better times ahead are already showing adding that while liquidity was still a challenge, there was relative economic stability already and this pointed towards better fortunes for the country.



"Obviously such a scenario would lead to an improvement in disposable income levels and the reintroduction of mortgage finance, two of the most critical factors that affect activity in our sector. Currently, the market is awash with properties available for sale against a few able buyers, a scenario that gives the buyers bargaining powers," he said.



The introduction of the multiple currency system among other factors has seen prices coming down by an average of 40 percent of last years' prices across the board.



Mr Marufu warned individuals and corporates alike to ensure they dispose of or buy properties at the correct market value. "Individuals and companies wishing to either dispose of or buy properties are better advised to engage registered real estate companies to avoid losses on their investments.



"For example, we have numerous unfortunate cases of sellers who fail to realise value from their investments because of over investing on a property in a particular area. This happens because every area has a ceiling market price for properties within its locality that will be difficult to exceed regardless of how much one spends in developing their property."



He said that last year's high inflationary environment had brought about a mismatch between the balance sheets of companies and the true value of their assets. In view of the multiple currency policy adopted by the Government, Mr Marufu said companies were advised to have their properties revalued to a true reflection of their business.



He said the last four years were a challenge for Marble Properties but the management was now geared for taking the company's plans forward under the new political dispensation. "Our company was formed just about the time the economic situation worsened but we are glad to say we have weathered the storm and are ready to see all our plans come to fruition.



"We are still geared to be the leading provider of real estate solutions be it sales, valuations, letting for Zimbabweans including those in the diaspora. Marble Properties will continue to search for opportunities to expand its operations especially in letting and property development. Marble Properties is a wholly owned Zimbabwean registered Estate Agent, established in 2005.



The company operates within the ambits of The Estate Agents Council of Zimbabwe which requires that players meet certain critical requirements, chief among them being proper registration with the Council, contributing to Compensation Fund, maintaining sound Trust Funds accounting records for which are compulsorily audited by the Institute to ensure compliance.