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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June 10, 2023
Property (100)
The Monetary Policy Committee (MPC) of the Bank of Namibia (BoN) held its first meeting for the year increased the repo rate by a further 25 basis points to 7%, in line with analysts’ forecasts.
Namibia still has a long way to go to make housing more affordable for all, Minister of Urban and Rural Development Erastus Uutoni has said.
The National Housing Enterprise (NHE) is urging Windhoek residents living in informal settlements to register for the construction of affordable homes.
The Bank of Namibia is set to come up with new policy measures to jump-start the construction sector which has experienced a significant slow down in recent years.
President Hage Geingob has implored parliamentarian to speed up the process of enactment of the High Court and Magistrate Bills, which will give the judiciary power to adjudicate on issues related to properties.
The Construction Industries Federation of Namibia (CIF) has expressed concern over the government’s lack of support for local companies.
A rental deposit is a payment made by a tenant to a landlord or property management company before moving into a rental property, such as an apartment or house.
City of Windhoek and the Ministry of Urban and Rural Development have delivered 570 houses to middle-income earners through the Informal Settlement Upgrading programme.
The City of Windhoek recorded the lowest value of approved building plans in 11 years, after 2,467 buildings worth N$1.75 billion were approved in 2022.
Tenants should ensure that they read and understand the lease agreement before signing because it is a legally binding document.
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Oryx Properties says it is not in a position to buy the Grove Mall, which is reported to be on the market at a N$1.8 billion valuation.
The country’s construction sector is betting on green hydrogen projects to realise some growth as construction projects become scarcer as time goes.
The Property Practitioners’ Bill is a new piece of legislation which will replace the Estate Agents Act 112 of 1976. Its primary purpose is to establish the Property Practitioners’ Regulatory Authority, which will replace the Namibia Estate Agents Board, to regulate the affairs of all property practitioners, and allow for transformation in the property sector and to provide consumer protection.
Apart from losing weight, getting fit, gaining better control of your finances, and getting that promotion you have been dreaming of, buying your first home this year is also a worthy 2023 goal.
