Are you looking to invest in a property in Windhoek? The hardest part for many people is deciding which suburb to buy in, especially in the current economic climate, where household incomes are put under tremendous pressure due to rising costs and tough economic times.
One can literally not afford to make a bad financial decision like investing in the wrong property.
According to the FNB Namibia housing index, the central region is the only region that has registered growth in house prices of 5.7% y/y to N$1 488 000 in Q1 2022.
This growth is due to the construction of new homes in the upper to middle-income markets in the suburbs, such as Academia, Elisenheim, Rocky Crest, Khomasdal, and Otjomuise.ÂÂ
A good start is by looking at suburbs that record high rental yields, low vacancy rates, crime rates, surrounding amenities, potential property appreciation and the state of neighbouring properties.
The valuation of your house depends not only on its state and finishes, but also on those of surrounding houses.
One can buy/build a beautiful house with the best finishes, however, if it is in the wrong location, it will be difficult to build equity and sell for maximum profits when the time comes.ÂÂ
My current favourite suburbs are:ÂÂ
1. Otjomuise Ext 5ÂÂ
Ext 5 is a newly established residential area in Otjomuise with lovely modern new construction homes. Erven range from about 350m² to 550m².
Prices in this area range from about N$ 1,500,000.00 etc. – N$ 2,100,000.00.
2. Khomasdal Ext 4 & 16ÂÂ
Ext 4&16 are newly established residential areas in Khomasdal with lovely modern new construction homes. Erven range from about 350m² to 700m². Prices in this area range from about N$ 1,750,000.00 etc – N$ 2,400,000.00.
3. Rocky Crest Ext 4ÂÂ
Ext 4 is a newly established residential area in Rocky crest with modern new construction homes. Erven range from about 350m² to 550m². Prices in this area range from about N$ 1,500,000.00 etc. – N$ 2,300,000.00.
4. Academia Ext 1ÂÂ
Ext 1 is a newly established residential area in Academia with modern new construction homes. Erven ranges from about 500m² to 800m². Prices in this area range from about N$ 2,750,000.00 etc. – N$ 4,000,000.
5. Kleine KuppeÂÂ
Kleine Kuppe has a new portion with recently serviced erven with modern new construction homes. Erven range from about 500m² to 1000m². Prices in this area range from about N$ 2,750,000.00 etc. – N$ 5,000,000.
Remember that the best move is to think holistically about a market.
Are there cultural or sports attractions, walkability, or many urban parks make an area even more desirable?
What infrastructure investments are being made in the location, and what are the city or community plans?
As well as looking at your own needs, goals and financial circumstances.ÂÂ
A very lovely tip I once received, was visit the location at different times during the day and get a feel of traffic, noise and general vibes.
For enquiries Text, Call or email #yourhomegirl Justina HamupembeÂÂ
Cell: +264812726001
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