{"id":556,"date":"2021-10-03T14:45:15","date_gmt":"2021-10-03T14:45:15","guid":{"rendered":"https:\/\/www.thinkmint.ng\/reallifemagazine\/?p=556"},"modified":"2021-10-15T13:24:23","modified_gmt":"2021-10-15T13:24:23","slug":"namibia-a-dynamic-change-in-the-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.thinkmint.ng\/reallifemagazine\/namibia-a-dynamic-change-in-the-real-estate-market\/","title":{"rendered":"NAMIBIA \u2013 A DYNAMIC CHANGE IN THE REAL ESTATE MARKET"},"content":{"rendered":"

Recently, the First National Bank of Namibia recorded an all-time low annual house price growth of 3.7% year-on-year. An increase of 27.4% was recorded for the volume index, this upsurge was mainly influenced by the purchase of low-income housing which has led to an increase in demand for properties in Namibia.<\/p>\n

The fall in house prices have reached a critical level due to the global pandemic that the country is recovering from.<\/p>\n

To motivate the investment behaviour of investors, the bank of Namibia reviewed the earlier changes in loan-to-value regulations, smaller deposits are now required to purchase investment properties which have led to a high increase in real estate demand.<\/p>\n

The new trend is to purchase a property, and put the property on the leasing market. This attitude has changed the narrative of property ownership, people would rather rent for a short time than purchase a property. One consequence of falling house prices is an increase in the property leasing market.<\/p>\n

The market has changed from people buying properties to leasing their properties. Investors sell properties and after the window to resell those properties have closed; the market is flooded with properties people would rather rent on a short-term basis than actually purchase the property with the hope of a further decrease in property prices.<\/p>\n

As a result of the shift from a real estate market dominated by artificially high house prices to one where availability is almost equal to the demand for real estate, the only solution is a shift to property development and facility management.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, the First National Bank of Namibia recorded an all-time low annual house price growth of 3.7% year-on-year. An increase of 27.4% was recorded for the volume index, this upsurge was mainly influenced by the purchase of low-income housing which has led to an increase in demand for properties in Namibia. The fall in house […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[97],"class_list":["post-556","post","type-post","status-publish","format-standard","hentry","category-real-news","tag-namibia-real-estate-market"],"yoast_head":"\nNAMIBIA \u2013 A DYNAMIC CHANGE IN THE REAL ESTATE MARKET<\/title>\n<meta name=\"description\" content=\"Recently, the First National Bank of Namibia recorded an all-time low annual house price growth of 3.7% year-on-year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thinkmint.ng\/reallifemagazine\/namibia-a-dynamic-change-in-the-real-estate-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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