Bank Windhoek has financed 427 homes in 2024, valued at N$600 million, reflecting a 24% increase from the previous year. The bank hosted its annual Central Estate Agent Awards to honor real estate agents for their contributions. With reductions in interest rates, coupled with strong partnerships, the bank is optimistic about enhancing access to homeownership in Namibia.
Bank Windhoek recently announced a substantial increase in home financing for 2024, facilitating the purchase of 427 homes valued at approximately N$600 million, signifying a 24% increase from the previous year. This announcement was made by Zenaune Kamberipa, the Chief Financial Officer and Interim Specialist Finance Executive Officer. To commemorate this achievement, the bank organized its annual Central Estate Agent Awards on 7 March in Windhoek, honoring the contributions of real estate agents.
Kamberipa noted that recent reductions in the repo rate by the Bank of Namibia have positively impacted the real estate sector. With inflation at 4.5%, these cuts enhance home financing accessibility despite rising property prices. He stated, “The demand for homeownership remains strong, and the reduced repo rate creates opportunities for more families to take their first steps onto the property ladder. This is where our collective efforts become crucial.”
Maureen Platt, Head of Property Finance at Bank Windhoek, expressed optimism about the property market in 2024 and emphasized the importance of collaboration with real estate agents for a sustainable future in Namibia. She remarked, “We are proud to be such an integral part of the Namibian economy and look forward to contributing to its growth in the future.”
Rightmove Properties Windhoek CC, Okomita Property Development CC, and Just Property Group CC were recognized as top performers in the Windhoek area, achieving transaction volumes exceeding N$25 million. Jacko Koen from Okomita Properties credited the decrease in interest rates for heightened property demand, pointing to new developments like Osona Village as factors driving increased business.
Marion Wolf and Lourette Liebenberg from Rightmove Properties Windhoek highlighted the continuity of success from previous years by focusing on client service and leveraging technology. They appreciated their cooperative relationship with Bank Windhoek’s home loan consultants. Additionally, Schantal Teichmann of Just Property Group emphasized the positive nature of their collaboration with the bank and expressed hopes for future sales growth in 2025.
The annual awards celebrate the dedication of residential and commercial real estate agents, agencies, and developers across various regions, acknowledging their loyalty and support for Bank Windhoek and its clientele.
Bank Windhoek is witnessing a noteworthy expansion in its home financing operations, facilitating the purchase of 427 homes this year, indicative of a burgeoning real estate market. With the support of reduced interest rates and strong collaboration with real estate agents, the bank aims to bolster accessibility in homeownership. The successful outcome of the 2024 home financing initiative underscores the essential partnerships necessary for economic growth and development within Namibia’s property sector.
Original Source: economist.com.na
