Bank Windhoek has financed 427 homes worth N$600 million in 2024, marking a 24% increase from the previous year. The bank hosted its annual Central Estate Agent Awards to honor real estate professionals. The reduction in interest rates facilitates homeownership, enhancing market prospects. Key industry players acknowledged the importance of partnerships with the bank for future success and growth in the property market.
Bank Windhoek has announced a significant milestone in home financing with a total of 427 homes funded this year, valued at approximately N$600 million. This represents a 24% increase in funding compared to the previous year, indicating a positive trajectory in the real estate market for 2024. Chief Financial Officer Zenaune Kamberipa emphasized the bank’s commitment to supporting homeownership despite rising property prices.
To commemorate this achievement, Bank Windhoek held the annual Central Estate Agent Awards on 7 March in Windhoek, recognizing the invaluable contributions of real estate professionals. Kamberipa noted the recent reductions in the repo rate by the Bank of Namibia, citing that these cuts enhance accessibility to financing and promote homeownership in an environment of escalating property costs. He stated that the ongoing demand for homes coupled with lowered interest rates presents new opportunities for families to embark on their journey to homeownership.
Maureen Platt, Head of Property Finance at Bank Windhoek, highlighted the importance of partnerships with real estate agents. She affirmed that this collaboration is instrumental in fostering a sustainable future for the Namibian economy. Platt expressed pride in the bank’s integral role within the community and its commitment to future growth.
The awards celebrated top performers in the Windhoek area, with Rightmove Properties Windhoek CC receiving the gold award for achieving a transaction volume of over N$25 million. Okomita Property Development CC and Just Property Group CC were awarded bronze. Jacko Koen from Okomita Properties remarked that the recent interest rate decreases have invigorated property demand, citing developments such as the new amenities in Osona Village.
Industry professionals Marion Wolf and Lourette Liebenberg from Rightmove Properties Windhoek acknowledged a positive year, attributing their success to a focus on client service and robust technology integration. Schantal Teichmann of Just Property Group expressed optimism for continued collaboration with Bank Windhoek in property financing, anticipating increased sales in the upcoming year.
Bank Windhoek’s annual awards celebrate the contributions of residential and commercial real estate agents across various regions, reinforcing the importance of loyalty and support towards the bank and its clients.
Bank Windhoek’s impressive financing of 427 homes in 2024 showcases a healthy growth rate in the real estate sector, buoyed by decreasing interest rates. The annual awards ceremony served to honor the crucial role played by real estate agents in this achievement. With strong demand for homeownership and a commitment to client service and partnerships, the outlook for the property market remains optimistic as the bank looks forward to contributing to the nation’s economic growth.
Original Source: economist.com.na