Namibia’s average house price increased to N$1.46 million in the first quarter of 2026 as shortages of serviced land and limited housing supply continued to push property prices higher.
According to a report by Mandisa Van Wyk, Market Research Manager at FNB Namibia, the national average house price rose to N$1,460,483 in 1Q2026 from N$1,420,286 in the previous quarter and N$1,345,270 a year ago.
House prices grew by 7.1% during the quarter, although this was slightly slower than the 7.6% growth recorded at the end of 2025.
Van Wyk said demand for houses remains strong, especially in the central and coastal regions, even though fewer people are buying homes compared to the previous quarter.
The central region recorded house price growth of 7.6%, while the coastal region saw the biggest increase at 10.6%. The northern region recorded weak growth of 0.4%, while prices in the southern region declined by 0.7%.
The average house price in the central region now stands at N$1.83 million, while coastal homes average N$1.58 million.
The report said the housing market continues to face challenges linked to slow land servicing and limited new housing developments.
Residential plot sales remained weak, falling by 32% during the quarter.
Mortgage lending also remained low despite lower interest rates, making it harder for many households to afford homes.
“As a result, activity in the residential property market appears to be increasingly concentrated among foreign buyers and higher income households,” the report said.
The report expects house prices to remain high in the short term as supply shortages continue across the market.
