Property prices, high rent, disturbing
The City of Windhoek’s leadership this week said they are highly disturbed by escalating prices of residential properties and of rental units.
“Windhoek is experiencing a limited supply of serviced land for residential land use, due to limited funds to service land and the rapid rate of Windhoek’s population growth on a daily basis” City spokesperson, Joshua Amukugo told the media on Wednesday.
“The City of Windhoek has implemented a pilot phase strategy of a Public Private Partnership (PPP) which so far is bearing fruit as a number of residential erven were available and auctioned in Otjomuise Extension 4.”“The project is ongoing with residential erven to be availed this year for Academia Extension1. The City remains optimistic and in full support of the government’s mass housing programme which upon completion of the construction of the houses by [the National Housing Enterprise] in Otjomuise Extension 10, will produce about 2,300 houses.”
“The City appeals to property owners and property developers to be human enough and consider leniency when determining their property prices and rental fees.
The City is confident that the strategic interventions such as the PPP projects, the City’s own-funded projects on serviced land and the mass housing project will yield the much needed outcome and provide a cooling effect on price escalation.”
The City said it acknowledges the hardship local residents have to endure due to exorbitant property prices and appealed to companies to help provide suitable accommodation to their employees.