Swakopmund’s property market has recorded higher building activity despite a decline in the overall value of approved projects, with approvals totalling N$734 million year to date compared to N$2.6 billion in 2024.
Analysts say the trend reflects sustained investor confidence in the town.
According to Almandro Jansen, Economist at Simonis Storm, the coastal town has recorded a significant increase in building plan approvals, signalling positive investor sentiment.
Jansen said Swakopmund processed an average of 78 building approvals per month between January and October 2025, totalling 783 to date, compared to 524 over the same period in 2024.
In October alone, approvals rose by 80%, increasing from 85 to 153 plans, representing a year-on-year rise of 119% from 70 approvals in October 2024.
“The 2025 trend reflects a more balanced and sustainable project pipeline, characterised by steady residential construction, incremental commercial developments, and early preparatory activity in anticipation of longer-term opportunities linked to the Walvis Bay–Swakopmund corridor and southern coastal developments,” said Jansen.
In the same month, 85 projects were completed, valued at N$83 million. Residential construction led activity, including 36 houses, 16 extensions, 36 flats and one institutional build.
Jansen said the performance aligns with broader coastal housing trends, with the latest FNB House Price Index showing a 1.2% increase in average home prices over the last year.
“Swakopmund continues to benefit from strong foreign demand. Sustained interest from international buyers, combined with growing local demand for rental properties, has underpinned a 41.5% year-on-year increase in transaction volumes across small and medium market segments,” he said.
Jansen added that ongoing tourism demand, residential relocations and positioning for future large-scale investments along the coast are supporting confidence in the sector. He said similar trends are expected to extend to Lüderitz as green hydrogen and related infrastructure projects advance.
“Swakopmund is emerging as a secondary growth pole along Namibia’s coastline, with opportunities expanding in residential, logistics, and hospitality developments. Spillover from anticipated port-related and green-energy initiatives will further support this trajectory,” Jansen said.
He noted that Lüderitz, although not yet reflected strongly in current building statistics, is becoming a strategically important construction hub.
“What the numbers don’t fully capture yet is the scale of the project pipeline now converging on the south — a combination of NamPower’s grid expansion, Namport’s harbour upgrades, and government’s green hydrogen and town-readiness agenda,” he said.
Jansen concluded that together, these developments indicate a structural shift in future construction trends, moving away from a purely real-estate-driven cycle towards a longer-term, infrastructure-led investment phase.
