Rental Market Sees Surge, Led by Two-Bedroom Units

Rental Market Sees Surge, Led by Two-Bedroom Units

The average rental price in Namibia reached N$7,348 on a 12-month rolling basis, with two-bedroom units driving market growth, according to recent data as reported by The Brief. In the second quarter of 2024, rentals for two-bedroom properties saw a notable 14.7% increase, up from 11.6% in the first quarter, representing the highest growth among all categories. FNB Namibia’s Rent Price Index attributes this rise to changing tenant preferences […]

January 10, 2025 6

Business / Economics

Rising interest rates drive demand for extended rental agreements

The FNB Rent Price Index has remained positive for two consecutive quarters, reaching a 12-month average of 4.7% in quarter three of 2023. The average rent price on a 12-month rolling basis is N$7 177. The bank’s Economist Ruusa Nandago says individuals are delaying property purchases and choosing extended rentals due to higher interest rates and affordability challenges.

January 29, 2024 60