The Civil Servant Strike which is going on right now for the first time in the history of Botswna will have more adverse effects for the economy than anticipated. One should appreciate that in Botswana the government is the number one employer. Almost all essential services are provided by the government. This strikes, means, therefore, that people are not getting enough essential services. And according to Maslow Hierarchy of Needs once the basic human needs are not met, the higher needs are bound to suffer. Although shelter is one of the basic needs, property market is most likely to experience some set-backs. People are most likely to prefer sharing of houses to reduce costs, stop buying or building property to reduce spending and entangling themselves with mortgage, and there will be more houses listed for rent and for sale. This senario will hit our economy more than the recession. The unfortunate thing for the country is that it handing over the land to foreigners. The citizen are most likely to dispose their property. Guess who will buy? Foreigners who have got cash may buy property in Botswana much more cheaper for investment purposes.
Property owners in Botswana need to exercise caution in selling property now or in the near future. But one also needs to be aware that it is better, in my opinion, to sell property and pay the bank than to wait untill the bank reposses the property. Wisdom is needed now than ever before.
Hannes Kurusa