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Property (134)

The Bank of Namibia’s (BoN) Monetary Policy Committee voted to raise the repo rate by 25 basis points to 7.25% on Wednesday.

The National Housing Enterprise (NHE) has announced the appointment of Josefina Simaneka Nekongo as the new Manager of Legal Services, Compliance, Risk, and Company Secretary.

The Association of Local Authorities in Namibia (ALAN) says the country requires about 50,000 units to be constructed countrywide in the next 10 years to solve the current housing crisis.

Buying a home for the first time can be a daunting concept – as a result, some people choose to delay the purchase until they are well prepared.

Mobile Telecommunications Limited (MTC) now plans to deliver 1,941 low-cost housing plots, up from the initial target of 1,585, under its Land Delivery Project.

The Retirement Fund for Local Authorities and Utility Services (RFLAUN) has provided pension-backed home loans worth N$227 million to 1,300 members in 2022, an official has said.

The Ministry of Industrialisation and Trade is planning on opening a second school uniform manufacturing factory at Ovitoto in Otjozondjupa Region to stimulate growth in the poverty-stricken area.

The Construction Industries Federation of Namibia (CIF) is concerned that the absence of a statutory regulatory body results in unfair awarding of tenders to contractors who lack the necessary experience and thus are unable to complete the projects.

At common law, the landlord is obliged to pay the rates and taxes on the property. It is the landlord’s responsibility to ensure that s/he takes into account the amount of rates and taxes payable by him/her in the rental amount.

Occupational rent applies when buyers move into a property before transfer and registration have taken place. It can also apply when sellers remain in occupation of the property after transfer and registration.