WINDHOEK, 17 APR. – FNB Namibia recently awarded Estate Agents at their annual Realtor Club gala dinner, this year with a Turkish flair. Estate Agents who supported FNB Namibia by bringing the bank business enjoyed some belly-dancing entertainment, a great buffet, chill area and the opportunity to dance the night away. Total business registered through the estate agents for the FNB competition period amounted to approximately N$ 550 million. The total business received from the top 10 agents was more than N$ 175 million and the top five agencies supported FNB Namibia with around N$ 200 million registered business.
Sarel van Zyl, CEO of the FNB Namibia Group expressed his profound gratitude and thanked all Estate Agents and supporting attorneys for their loyalty and excellent support and their great performance. He informed that 2017 had been a tough year for the Namibian economy, and the property market in particular. “Although there were pockets of excellence the market was subdued with low average house price growth.”
He added that FNB Namibia believed that 2018 would be more positive. “Yes, there’s always the small print disclaimer to that, but looking at where we were a year ago and where we are today, I feel positive about 2018 in general and our property market in particular. My wish is that the partnership between FNB and estate agents remain a lasting relationship, because we value your clear commitment to playing an active role in the development of Namibia, particularly in the property industry.”
Magda Talbot, acting Head of Home Loans informed that the house price growth of 4% prevailed nationally during 2017, down from 5.4% in the previous year, while volumes were up 16.2% – the highest in over 3 years. She added: “Central property prices were up 8.7% while weak price growth experienced in the Far North brought growth stimulation. Our latest valuation report indicates that 15% of properties valuated result in valuations below asking price. The current total mortgage book in Namibia exceeds N$ 36.5 bn of which FNB has the largest market share of 36.5%. The FNB mortgage book amounts to over N$ 13 bn. The industry experienced an increase in non-performing loans and FNB is grateful to report that our NPL’s are still far below that of the industry.”
Magda also thanked all involved parties for their ongoing commitment and support towards FNB home loans and added: “As part of our commitment to the industry, we continuously strive to improve our customer service and are in the process of finalizing the second part of our front-end application system. A lot of work went into this project and we are excited to report that our turnaround times are improving daily.”
The FNB Namibia Realtor’s competition includes an overseas trip to Turkey this year, a South African trip and a Namibian trip. A total of 13 trips were awarded to deserving agents and principals to thank them for their ongoing support.
Estate agents who have registered transactions between N$10 – N$20mil: Hans Ipinge, Hayley Fay, Jannie Erasmus, Kestodia Tobias, Lindie Lourens, Lusia Hango, Marion Wolf, Naomi van Tonder, Simone Konings
Estate agent with registered transactions between N$20 – N$30mil: Gretha Dos Santos
The winning Rural agent is Kaino Shakuma, Ediva Real Estates from the Far North
Rural estate agency principal with the highest combined agency figures – Kaino Shakuma of Ediva Real Estates
Estate Agency of the Year – Rightmove Properties
Estate Agent of the Year – Anita Dames