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February 03, 2023
Property (62)
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.
Oryx Properties has acquired the Dunes Mall in Walvis Bay for N$648,8 million.
The Property Practitioners Bill is a new piece of legislation which will replace the Estate Agents Act 112 of 1976.
The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to increase the Repo rate by 50 basis points to 6.75% from 6.25% in the meeting held on 29 November 2022.
Living at the right address, in the right location with a good road network will always add value to your property. Namibia is ranked number one in Africa and 21st in the world in terms of quality road infrastructure.
A landlord is not prohibited from selling the property to a third party while the property is housing a tenant and a lease agreement is in place. However, in terms of the legal principle of ‘huur gaat voor koop’, which means a lease agreement goes before the sale or hire takes precedence before purchase.
There is no doubt that times are tough. The ongoing Russian-Ukraine conflict, soaring inflation and depressed growth prospects continue to put affordability for housing under pressure, especially in the face of rising interest rates.
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The Development Bank of Namibia (DBN) says it’s looking at filling the void in local land servicing by providing funding towards the development of bulk land infrastructure.
The Government Institutions Pension Fund (GIPF) says it has financially contributed towards the servicing of over 5,591 erven and construction of over 6,582 housing units across the country over the past 10 years, the bulk of which is in the affordable housing category.
Not all renovations are equal and, whilst many will deliver on returns, some renovations can work against you. Everyone knows that a fresh coat of paint or a kitchen and bathroom remodel will add value to just about any house.
The City of Windhoek has approved 237 building plans in September worth nearly N$150 million, representing a 2.2% m/m increase from the 232 building plans approved in August.