Mass Housing to Put Downward Pressure on Property Prices
“We do expect this year a significant amount of mass houses to come onto the market, we know that there is about 1500 that are near completion so the 1500 will be significant and it will push down the prices somewhat,” said Namene Kalili Research Manager for Strategic Marketing and Communications at FNB Namibia Holdings Limited.
“We are looking at a 200 unit release by the National Housing Enterprise (NHE) which has in the past brought down houses significantly, so that’s gonna bring some relief,” Kalili added.
Kalili said the plan is to get to about 5000 units per annum but they believe that the NHE will go a bit higher than that.
Spotlight News sat down with Namene Kalili Research Manager for Strategic Marketing and Communications at FNB Namibia Holdings Limited on the FNB Namibia housing index report. Kalili elaborates on mass houses, the impact it will have on property prices, the demand for houses in 2016 compared to the previous year and parts of Namibia which have seen an increase in property prices.
-Article and interview by Maggie Forcelledo