Step Up Properties

**MARKET INSIGHT | Industrial Property 🏭**

We often talk about Namibia’s property market in terms of houses, offices and shopping centres.

But there is another sector quietly telling us a lot about the economy:

**Industrial property.**

Oryx Properties has entered into an agreement to acquire a Windhoek industrial warehouse for **N$251.2 million**.

Why is that interesting?

Because warehouses support the businesses that **store, move, manufacture and distribute** the goods we all rely on.

And as Namibia sees growing activity around logistics, mining, energy, ports and regional trade, industrial property becomes part of the bigger economic picture.

**The property market isn't one market.**

Residential, retail, office and industrial property can all respond very differently to economic conditions.

So perhaps the question isn't only:

**“What is happening to property prices?”**

But also:

**“What is the type of property investors are buying telling us about where Namibia's economy is heading?”**

What are you seeing in Namibia's industrial property market?

Vacant office / shop available for rent - in shopping complex

Ground floor
Size: 90m2.
*Large open-plan office/retail space
*Private Office
*Kitchenette

Rental amount Excludes VAT and Utilities - Prepaid Electricity
Alarm connection at Tenant's account plus Monthly Installment.
Ample parking available

Please Contact:
Maritza - 081 647 4641
Cecilia - 081 247 7244

**MARKET INSIGHT | Property Prices Are Slowing. But They Aren’t Falling.**

There is an interesting shift happening in Namibia’s property market.

For much of this year, we have been talking about rising house prices and the growing affordability challenge.

But the latest FNB data gives us something new to consider.

House-price growth eased to **5.1% year-on-year in July**, down from 5.5% in June.

So, are property prices finally coming down?

**Not quite.**

FNB’s latest analysis suggests that supply constraints are continuing to support prices. There simply aren't enough homes coming onto the market to create significant downward pressure.

Instead, the adjustment is showing up elsewhere:

• Buyers are becoming more cautious.
• Transaction volumes are softer.
• Some properties are taking longer to sell.
• Affordability remains a major constraint.

In other words, **a slower-growing market does not necessarily mean a cheaper market.**

And this is where I think Namibia's property conversation becomes particularly interesting.

We need more housing supply.

The recent agreement between the City of Windhoek and central government could potentially unlock more than **6,000 erven in the Khomas Region**.

That sounds significant.

But the real question is:

**How quickly can those erven become serviced land, and ultimately homes that people can actually afford?**

Because solving Namibia’s housing challenge isn't simply about putting more properties on the market.

It is about creating the right properties, in the right locations, at prices that households can realistically afford.

For me, that is one of the most important things to watch in the Namibian property market over the next few years.

MARKET INSIGHT | Property Prices Are Rising. But Who Can Still Afford Them? 🏠

Namibia’s average house price has reached N$1.46 million, with house prices growing by 7.4% year-on-year.

But transaction growth has slowed to 2.8%, while residential plot sales fell by 26.7%.

That tells us something interesting:

Prices are rising. But participation in the market is becoming more difficult.

And the affordability numbers are even more striking.

New research estimates that a buyer would need a gross monthly income of around N$43,765 to afford Namibia’s average-priced home under the stated mortgage assumptions.

So perhaps the bigger question isn't:

“How much are property prices increasing?”

It is:

“Are we creating enough housing that Namibians can actually afford?”

Serviced land.
Housing supply.
Construction costs.
Interest rates.
Household incomes.

They are all part of the same equation.

The Bank of Namibia has held the repo rate at 6.75%, providing some stability, but interest rates alone cannot solve the affordability challenge.

🏢 450m² Warehouse & Office Space To Let

This 450m² property offers:

• Warehouse with offices
• Kitchenette & ablutions
• Easily accessible by interlink trucks 🚛
• 3-phase electricity
• Ideal for warehousing, distribution or industrial use

💰 N$50,434.80
Price excludes VAT, water & electricity.

📞 Contact:
Maritza 081 647 4641
Cecilia 081 347 7244

Exceptional Commercial Office Space in Windhoek's Premier Business District

Property Features:
• Premium office accommodation
• Large open-plan workspaces
•Executive offices • Boardrooms and meeting rooms • Reception area
• Double-volume office space
• Lift access • Basement parking
• Air-conditioning throughout
• Excellent natural light
• Secure access-controlled premises
•Flexible floor layouts
• Ample staff amenities
• Ready for immediate fit-out or occupation

Please Contact:
Maritza 081 647 4641

**MARKET INSIGHT | Interest Rates & Property**

**The rates may have stopped moving. But what does that mean for property?**

The Bank of Namibia's repo rate currently sits at **6.75%**.

For anyone buying, investing, developing or operating a business from property, interest rates are more than an economic headline. They influence the cost of finance and, ultimately, property decisions.

And yet, Namibia's property market continues to show resilience.

The latest FNB House Price Index recorded **7.1% annual house-price growth in Q1 2026**, with the national weighted average house price reaching approximately **N$1.44 million**. In the central region, which includes Windhoek, the average reached approximately **N$1.82 million**.

At the same time, affordability remains a significant challenge. Limited serviced land, constrained housing supply and rising construction costs continue to put pressure on the market.

So, what happens next?

A stable interest-rate environment may provide some certainty for property decisions, but it doesn't solve the affordability equation on its own.

**Interest rates are one piece of the property puzzle.**

Supply.
Land.
Construction costs.
Income growth.
Access to finance.
Demand.

They all matter.

For me, the interesting question is not simply *“Where are interest rates going?”*

It is:

**“What does the combination of all these factors mean for Namibia's property market?”**

I'd love to hear your thoughts.

**Are you seeing more confidence in the property market, or are affordability pressures still keeping buyers and businesses on the sidelines?**

Professional Office Space To Let

N$28,841 /month excl VAT & Utilities

Situated in a prime location, close to Government Office Park, this well-maintained office suite offers a practical and professional environment ideally suited to administrative, consulting, project management, engineering, accounting, auditing, legal support, and government-related businesses.

📞Maritza 081 647 4641

🪚Warehouse To Let

N$ 45 000 /month excl VAT & Utilities

Property Features:
*500m²
* 3 Offices
* Boardroom
* Reception area
* Huge warehouse space
* Store room
* Large kitchen
* Braai area
* Outside toilets
* Safe
* Electric fence
* Full camera/security system

📞Maritza 081 647 4941