The recently concluded Annual Bank Windhoek Central Estate Agents Awards could not have come at a more opportune time, as the financing of 475 homes, worth approximately N$600 million, in 2024 alone, represents a 24% increase on the prior year’s value.
Bank Windhoek’s Chief Financial Officer and Interim Specialist Finance Executive Officer, Zenaune Kamberipa, revealed that when the Bank of Namibia, following South Africa’s lead, reduced the repo rate twice in recent months, with inflation at 4.5%, the environment became conducive for the real estate sector to thrive, making financing and homeownership more accessible despite rising property prices.
“Now is the right time to own a home. 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,” Kamberipa said.
Weighing in on the matter, Bank Windhoek’s Head of Property Finance, Maureen Platt, concurred that 2024 was a good year for the property market. She further stressed that the relationship between real estate agents and Bank Windhoek is vital in building a sustainable future for Namibia.
“We are proud to be such an integral part of the Namibian economy and look forward to contributing to its growth in the future,” she said.
Awarded as achievers of the year in the Windhoek area, with a volume of transactions of N$25 million and more, were Rightmove Properties Windhoek CC (gold), Okomita Property Development CC (bronze), and Just Property Group CC (bronze). Jacko Koen from Okomita Properties maintained that decreased interest rates attracted more business.
“With the decrease in interest rates, we saw increased property demand. For instance, Osona Village is being established with many new amenities, including a shopping centre, public transport, and schools. These and other attractive features have allowed us to increase volumes,” he said.
Marion Wolf and Lourette Liebenberg from Rightmove Properties Windhoek agreed that 2024 was a buoyant year, stating that they managed to build on the successes of the previous three years.
“We focused on basic client service principles and the extensive use of technology in our industry. We built good relationships with all industry stakeholders and experienced good cooperation with Bank Windhoek’s home loan consultants,” said Liebenberg.
Another seemingly satisfied client, Schantal Teichmann of Just Property Group, said working with Bank Windhoek in property finance was positive and looks forward to more sales in 2025 with Bank Windhoek.
Hosted annually, Bank Windhoek’s Annual Estate Agent Awards recognizes residential and commercial estate agents, agencies, and developers from the central, coastal, and northern regions for their commitment, loyalty, and support to Bank Windhoek and its customers