Coen Welsh | Nov 14, 2017 | 0
New town-house development at Swakopmund waterfront
“In helping meet a strong demand for both permanent and leisure homes, attractive investment opportunities are becoming available in new residential developments in major centres such as Windhoek and Swakopmund,” said Paul Kruger, Pam Golding Properties joint area principal in Namibia.
Swakopmund has its own airport, with an international airport in nearby Walvis Bay providing connections via Windhoek, Cape Town and Johannesburg, while the Trans-Kalahari Highway passes through Swakopmund, connecting with inland towns and neighbouring countries.
According to Kruger, “these attributes have helped create a strong holiday rental market as well as a demand from buyers seeking to invest in their own holiday homes in the town. There’s no doubt that being a highly sought-after tourist destination has significantly boosted Swakopmund’s property values, making it a prime investment area for Namibians and foreigners alike.”
Ocean View Villas comprises double-storey town-houses that are sold off-plan at competitive launch prices ranging from N$1.6 million, with a N$20,000 deposit required to secure a unit. There are 18 units available in phase one, with each town-house consisting of 205 square metres with three bedrooms, two bathrooms, fitted kitchen, open plan lounge/dining room, small garden and double garage. The balance of units will be developed in phase two.
“Being aligned with the new waterfront development, Ocean View Villas is ideally placed to capitalise on the direct socio-economic impact of this on the demand for residential units in Swakopmund,” said Kruger.
According to him, “Capital growth in the area is approximately ten percent per annum, so effectively the buyer is acquiring a very attractive property investment with only a N$20,000 deposit required immediately and with transfer of the unit only once construction is completed. With a timeline of about one to two years for completion, this means the buyer is achieving capital growth of around ten to 20% before transfer. For those who wish to let their homes out when not in use, or for rental income, there is a strong demand for both holiday and permanent rental accommodation, particularly in prime locations such as this.” The entire Ocean View Villas development will be enclosed with a two metre boundary wall with electric fence, with 24 hour security guards with access control for visitors, remote control gates and other security features. Construction is about to commence on a few show units.