Bank Windhoek financed 427 homes valued at N$600 million in 2024, marking a 24% increase from the previous year. The bank hosted its annual Central Estate Agent Awards, recognizing the vital role of real estate agents. Decreased repo rates enhance homeownership accessibility, benefiting the real estate market. Collaborative efforts between agents and the bank are essential for future growth.
Bank Windhoek has significantly enhanced its home financing capabilities, funding 427 residences valued at around N$600 million in 2024. This reflects a 24% increase compared to the previous year. During a recent event, Chief Financial Officer Zenaune Kamberipa highlighted the role of reduced repo rates, which have facilitated easier access to financing and homeownership despite inflation rates at 4.5%.
On March 7, Bank Windhoek celebrated its success at the Central Estate Agent Awards in Windhoek, honoring the contributions of real estate agents who play a crucial role in the market. Kamberipa stated that the demand for homeownership is crucial and emphasizes the need for collaborative efforts among stakeholders.
Maureen Platt, the Head of Property Finance at Bank Windhoek, commented on the prosperous nature of the property market in 2024 and stressed the significance of partnerships with real estate agents to promote sustainable growth in Namibia.
Awards were presented to top performers in Windhoek, including Rightmove Properties Windhoek CC (gold) for achieving transaction volumes exceeding N$25 million and both Okomita Property Development CC and Just Property Group CC (bronze).
Industry participants like Jacko Koen of Okamita Properties remarked that decreased interest rates have led to a surge in property demand and noted ongoing developments in areas like Osona Village. Other agents from Rightmove and Just Property Group confirmed that leveraging technology and fostering strong relationships with Bank Windhoek has contributed to a successful year.
The annual awards event reflects Bank Windhoek’s commitment to recognizing real estate professionals across residential and commercial sectors, emphasizing their essential role in supporting the bank’s mission and enhancing customer service.
Bank Windhoek’s financing achievements, including funding 427 homes worth N$600 million in 2024, highlight an active real estate market buoyed by decreased interest rates. The Central Estate Agent Awards celebrated the essential relationships between the bank and real estate agents, which are crucial for sustainable growth. Increased property demand and competitive transaction volumes underscore a continuing positive outlook for homeownership in Namibia.
Original Source: economist.com.na
