Bank Windhoek financed 185 properties worth N$135 million in the Northern Region of Namibia in 2022.
Rundu transactions valued at N$55 million, accounted for 71 of the 185 properties financed according to Bank Windhoek’s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman.
Chapman also pointed out that the scarcity of serviced land and expensive building materials are some of the challenges experienced by the property industry. However, he noted that the property industry remains resilient despite all the challenges and has stood the test of time.
“On the economic front, we are facing challenging times, such as high inflation and continued pressure on households. The residential property market is susceptible to interest rate adjustments, of which we have seen quite a few upward adjustments lately,” he said.
The bank made the announcement during its annual Northern Estate Agents Awards ceremony, where it also recognized the top-performing estate agencies and agents.
Georgina Tjingaete of Jolly T. Real Estate, Timoteus Iita from Regent Real Estates, and Simeon Iita from Hippo Real Estate were the top three agents for the northern region.
Tjingaete also won the gold award as the estate agent with the highest volume of transactions.
Simeon Iita and Timoteus Iita scooped up the second prize. Roswitha Haingura-Hilundwa, Ottilie Alfeus, and Menethe Nikodemus shared the third accolade.
Bank Windhoek’s Annual Estate Agent Awards recognize residential and commercial estate agents, agencies, and developers from the northern, central, and coastal regions for their commitment, loyalty, and support to the bank.
