play_arrow

keyboard_arrow_right

Listeners:

Top listeners:

skip_previous skip_next
00:00 00:00
playlist_play chevron_left
volume_up
  • play_arrow

    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Business / Economics

Namibians Need N$36,000 Monthly to Qualify for N$1-Million Home Loan, Reveals Affordability Crisis

todayAugust 29, 2024 26

Background
share close

Salomo Hei, Economist and Managing Director at High Economic Intelligence, has highlighted that Namibians need a monthly income of N$36,000 to secure a N$1-million home loan, exposing the worsening affordability crisis in the country reports The Brief. Hei attributes the steep cost of housing to the sharply rising price of land. He also noted that high interest rates and restricted access to financing have made homeownership increasingly unattainable for many. Additionally, Hei pointed out that high unemployment rates compound the problem, as the lack of stable employment further hinders individuals’ ability to qualify for mortgages.

Written by: Leonard Witbeen

Rate it

0%