Need for housing still prevalent despite economic pressures – Bank Windhoek specialist
By Jaenique Swartz.
Despite several households being under increased economic pressure in the country, the need for housing is still prevalent according to Bank Windhoek’s head specialist of financing, Saara Shivute during the Bank Windhoek Coastal Estate Awards last week Friday.
During the awards the top three coastal agencies were announced, Ramos Realtors retaining the top spot, Susan Curtis Estates, and Monopoly Housing following close behind.
At the event, Shivute shed light on the barriers to meeting the housing demand and delivering services land for development throughout Namibia.
“As the only 100% locally owned Namibian financial services provider, Bank Windhoek will always play its part in assisting Namibians in owning the property of their dreams.”
Shivute has noted that 2022 was challenging for several reasons which include the increasing interest rate of 175 basis points over seven months noting that they are anticipating another increase in the interest rate on 19 April.
In 2022 Bank Windhoek financed 101 transactions to the value of N$120 million at the coast, “That is an average of N$1.2 million per unit. With residential properties showing an interest of 10% compared with last year,” reflected Shivute.
Burger and Curtis from Susan Curtis Estates said during the event that they plan to expand their business into the commercial, industrial, and other sectors as there has been massive demand from local and foreign buyers for high-end properties.
Furthermore, Bank Windhoek recognizes residential and commercial estate agencies and developers within the country for their support to Bank Windhoek and will host its central region event on 19 April.
Shivute concluded by thanking the agencies and its customers for trusting Bank Windhoek with their deals, “We pride ourselves in the relationships we have built with you over the past few years and want to keep working with you all well into the future as your property financiers of choice.”
left, Bank Windhoek’s Swakopmund Branch Manager, Paul Schrader; the Bank’s Managing Director, Baronice Hans and Bank Windhoek’s Walvis Bay Branch Manager, Jans Stander, Lorin Burger (second from right), from Susan Curtis Estates.
