WINDHOEK, Sept. 10 — Namibia’s national weighted average rent has returned to its pre-COVID-19 levels of 6,991 Namibian dollars (about 494 U.S. dollars), coming in at 7,003 Namibian dollars at the end of June 2021, an expert said Friday.
The is a moderate improvement highlighting a gradual recovery in rental occupancy rates and economic activity in general, said FNB Namibia market research manager, Frans Uusiku, while commenting on the second Quarter 2021 FNB Rental Index.
Despite the rental index starting to show some signs of recovery from the COVID-19 associated economic impact, the southwestern African country is not out of the woods yet, he said.
“The country needs to vaccinate as many people as quickly as possible to avoid further COVID-19 waves from damaging the economy and consequently the rental market,” he said.
FNB Namibia is one of Namibia’s largest commercial banks. (Xinhua)
