The Brief is an online news portal and going source with a focus on the Namibian business sector, current affairs, companies and financial markets.
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October 03, 2023
Property (134)
The United States of America says the construction of its over N$318 million embassy in Windhoek, is set to be completed by January next year.
Namibia could miss its goal of delivering 20,000 housing units by the end of 2025 with only 29% having been completed to date and two years remaining, a new report has revealed.
After analysing our data for September, BUCO emerged as the cheapest option, with an overall basket cost of N$8,011.4 inclusive of VAT and N$6,966.12 exclusive of VAT. Notably, the overall basket showed a month-on-month decrease of -1.28% exclusive of VAT.
The First National Bank of Namibia (FNB) says it has invested N$5 million into the Development Workshop of Namibia’s project to manage and service land.
Windhoek recorded a 71% year-on-year (y/y) decline in the value of approved building plans in August 2023, latest data shows.
The question around the need for a sole mandate when putting a property on the market is an important one and worth understanding.
The Construction Industries Federation of Namibia (CIF) and the Metal and Allied Namibian Workers Union (MANWU) are seeking an audience with President Hage Geingob to intervene and cancel multi-billion tenders that were allegedly awarded to foreign companies at the expense of locals.
Namibia's real estate market relies on trust and integrity. In this regard, the Estate Agents Fidelity Fund, overseen by the Namibia Estate Agents Board, plays a crucial role in ensuring financial security for the public engaging with estate agents.
Oryx Properties says its rental cash flow increased 6.4% to N$356.8 million during the year ended 30 June 2023.
Property investment, known for its stability, can inadvertently attract both reputable buyers and criminals seeking illicit gains.
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The National Ownership Association (NAOA) has raised alarm over the repossession of more than 14,985 houses in Namibia between 21 March 1990 and 16 April 2014, saying this has negatively impacted citizens who lost their primary residences.
Namibia's property market has witnessed a staggering 1,258% surge in average housing prices between January 1990 and March 2023, it has been revealed.
The decision to keep the repo rate unchanged at 7.75% has been welcomed by both the national economy and the property market.
Windhoek's approved construction project values plummeted by 73.7% year-on-year in July 2023. This is in stark contrast to Swakopmund, where approved project values soared by 113.6% year-on-year.
