Office exodus hits CBD, suburbs soar

United Kingdom-based realtor Knight Frank says Zimbabwe’s office market is subdued, with vacancy rates hitting roughly 60% in Harare’s central business district (CBD) and 40% in Bulawayo, as businesses continue to relocate to suburban nodes amid persistent macroeconomic pressures.

The shift from CBDs to suburbs is reshaping Zimbabwe’s commercial real estate landscape. While central locations struggle with high vacancies, rising rents, and deteriorating infrastructure, suburban nodes such as Newlands, Eastlea, Mt Pleasant, Milton Park and Belvedere are attracting companies seeking modern, flexible office space, better security, and shorter commutes, resulting in higher yields.

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