What is residential property?
This is land or a building that is zoned specifically for living or dwelling for individuals or households; it may include standalone houses to large, multi-unit apartment buildings (commonly called flats in Zambia).
Residential property is often the most important financial investment a person owns, and the value of real property on the estate is subject to shifts in the real estate market. Some people purchase real estate in the hope of making money, either by selling it at a profit or leasing it to others and charging them rent. But most people simply live on their property.
Types of residential property
As defined by local zoning regulations, residential property cannot be used for commercial or industrial purposes. However, residential and commercial property can be intermingled. This is often found in urban areas. Businesses and homes may be in close proximity or they may be connected. When this is the case, owners may have the power to choose how they want their property to be used. In some instances, however, a commercial property may be adjoined to property that is zoned as residential, but the owners may not have the power to change the use of their properties.
In some areas, it is possible for real property to be used commercially, especially if the business operates on an appointment-only schedule, has very few employees, and generates little to no automobile traffic.
Browse residential property on Infobwana
Here on Infobwana, you will find a wide selection of real estate companies that sell and rent out residential property in Zambia. We have made the search process for property easy on Infobwana.com. You will be able to browse various properties listed by your company of choice in their marketplace.