By Staff Reporter
WINDHOEK, April 19 — Bank Windhoek’s Head of Specialist Finance, Saara Shivute, spoke at the Bank Windhoek Coastal Estate Awards held in Walvis Bay on Friday, April 14, 2023, about the housing demand in Namibia despite households facing economic pressure. Shivute noted that providing serviced land for development remains the biggest obstacle to meeting housing demand, and the Bank would continue to assist Namibians in owning their dream property.
Ramos Realtors Namibia, Susan Curtis Estates and Monopoly Housing were named as the top three coastal estate agencies at the awards, with Ramos Realtors Namibia retaining its top position from the previous year. The Achiever of the Year in the Commercial category was Michelle Herbst of Versatile Realty, while Lorin Burger from Susan Curtis Estates won the Gold Award for Achiever of the Year in the Residential category.
Shivute acknowledged the challenges faced in 2022, including an interest rate increase of 175 basis points over a short seven-month period, and anticipated another interest rate increase announcement on April 19, 2023. However, she shared that the housing market at the coast had good uptake, with Bank Windhoek financing 101 transactions worth N$120 million in 2022, and an average of N$1.2 million per unit. Residential properties also showed an increase of 10% in value compared to the previous year.
Lorin Burger and Susan Curtis expressed their satisfaction with the business in 2022, saying that they had a high demand for high-end properties and saw an increase in the first-time homeowner’s sector. The pair plans to expand their business into the commercial, industrial and other sectors while continuing to give good service and sound advice to prospective buyers and investors. Burger thanked Bank Windhoek for their excellent service and advised buyers to take advantage of the current buyers’ market to invest in property.
The Bank Windhoek Annual Estate Agent Awards recognize residential and commercial estate agents, agencies, and developers from the coastal, central, and northern regions for their support to Bank Windhoek and its customers. Shivute thanked the customers and estate agents for their trust in the Bank and expressed the Bank’s pride in being a connector of positive change for the owners of properties. The central region event will take place on Thursday, April 20, 2023, in Windhoek. – Namibia Daily News