Property (83)

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.

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. 

Page 2 of 6