Far north property volumes jump by more than 43% in one year
Real Estate transactions in the northern regions are completely dominated by women as transpired at the recent Estate Agent gala dinner hosted by FNB Far North in Oshakati for their best-performing clients.
Awarded for their individual contributions were Taimi Antonio and Selma Iithete in the category N$3 – N$5 million, and Kaino Shakumu of Ediva Real Estate for her excellent performance in the category N$5 – N$10 million. FNB Far North’s combined new business from these agents exceeded N$31 million.
Roswita Haingura received the award for Best Rural Agent while her agency also came out tops, taking the Rural Agency of the Year: Far North award.
Tomas Iindji, Area Business Manager of FNB Far North, thanked the northern real estate agents, especially ‘given the challenges faced within the market” and for their dedication and perseverance.
Regarding conditions in the northern market over the past year, Iindji said “Northern property prices are still growing albeit at a slower rate. The average price now stands at N$919,000. There is increased demand for residential property – volumes have continued to climb, improving from 6.2% year on year in March 2018 to 43.4% at the end of March 2019. Growth across all four segments is in positive territory.” This comprises small, medium, large and luxury properties.
“Property development activities are expected to pick up in this region owing to the Oshakati Town Council’s plans to drastically reduce the number of informal settlements by providing more formal housing,” he said.
Caption: From the left, Magda Talbot, Victoria Shiweda, Janet Shakumu, Selma Iithete, Taimi Antonio, Roswitha Haingura and Tomas Indjii.