• Zambia has a shortage of more than 3 million residential houses.
• Housing shortage makes Zambia ripe for more real estate investment.
• Housing developers urged to introduce innovative housing solutions.
Zambia Institute of Estate Agents (ZIEA) has revealed that Zambia has a deficit of more than 3 million housing units.
Institute President, Bryan Tembo told Money FM that this housing backlog makes the country a good destination for real estate developers to invest in affordable and sustainable housing solutions.
‘‘In terms of real estate sectors of retail, commercial and residential, housing is a serious investment to consider for those that want to invest in Zambia as there is a shortage to cover,’’ Mr. Tembo said.
He also added that housing developers should not only construct brick and mortar houses but develop other innovative housing solutions.
‘‘We (ZIEA) have been urging developers not to only do the traditional brick and mortal houses, but bring to Zambia other improved housing solutions,’’ he said
And Mr. Tembo urged real estate developers to consider investing in land found in the outskirts of Lusaka City.