Home prices reach whopping average of P1m

Rental prices followed suit, climbing to an average of P5,000, enriching investors but pushing home ownership further out of reach for the average Motswana.

Property prices have been rising across all segments particularly the residential market in Gaborone, with market watchers warning of concentration in the urban area. The latest report by property group, Ribbery, quoted in the central bank’s latest monetary policy report, shows that property prices rose a notch higher with residential homes costing close to a whopping P1 million on average.