FNB leading analyst Josephat Nambashu says that the housing demand is suffering. There is not much demand from buyers and when a property sells, it sells on average 98 percent below its asking price. The country’s residential property market changed from a seller’s market to a buyer’s market. Price growth dropped almost everywhere except for the coastal market. Mortgage advances have...
The Namibian housing market is continuing to suffering due to pressure on disposable income and to macroeconomic pressures. Last year the economy fell to a lowly 1.1 per cent GDP and the housing market price growth decelerate to 6.4 per cent in June. Josephat Nambashu from FNB is releasing the news while pointing out a very noticeable decline from the 11.6 per cent annual price growth recorded on the...
FNB Namibia’s Housing Index revealed yesterday that in June the average house in Namibia cost 6,4 per cent more than a year ago. Disposable income is under pressure and macro-economic challenges continue aggravating the Namibian housing market that saw the annual price growth slowing down to 6,4 per cent in June. This substantial decline is more evident in real price changes, which has been in the...
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