Property

Property (148)

Buying your first house can be a very daunting task, filled with a lot of fear and a lack of information and understanding.

FNB Namibia forecasts rentals to further increase going forward, but warns that affordability concerns, driven by subdued real wage growth could impact the momentum.

The 146 building plans the City of Windhoek approved in May, represent a 15.6% m/m decrease from the 173 building plans approved in April.

The Monetary Policy Committee (MPC) of the Bank of Namibia has decided to further increase the Repo rate by 50 basis points, in the meeting held on 15 June 2022. Economic analysts have also predicted that the Bank of Namibia will announce two more rate hikes before year end.

Atterbury Property Holdings, owned by the JSE-listed Atterbury Group is reported to be in talks to sell the iconic Grove Mall of Namibia to Zimbabwean investors, mainly pension funds, keen to invest in the regional market to increase value for their stakeholders.

According to The Herald, Stratus Capital Partners and Bard Santner Markets are brokering the N$1.8 billion deal.

Bard is the lead financial adviser, while the Chikuni Shenjere-Mutiswa-led Stratus Capital Partners brokered the deal.

Bard is led by banker Senziwani Sikhosana, who has over two decades experience in banking, investment, property, and capital and money markets dealings.

Sikhosana works with a Zimbabwean business consortium, which includes Tatenda Hungwe, Alfred Mthimkhulu and international finance expert Vinod Bussawah from Mauritius.

It develops prime mixed-use, commercial, retail and industrial properties and from its South African base, has developed many properties in South Africa, sub-Saharan Africa and Europe worth billions.

Sikhosana was quoted saying: “We are not able to discuss the deal in the media at the moment, but we will let you know when we are ready to talk soon.”

The current Pension and Provident Funds Act in Zimbabwe is being amended through the Pensions and Provident Funds Bill to modernise and strengthen the regulation and supervision of the pensions industry, while giving them flexibility to invest in other markets.

There has been very little legislation on the subject of pensions law with the current law statute having been promulgated in 1976.

Until relatively recently, Zimbabwean pensions funds invested primarily in stocks and bonds, often using a liability-matching strategy.

 Now they increasingly invest in a variety of asset classes, including private equity, real estate, infrastructure, and securities to hedge inflation.

Built by Howard and Chamberlain Architects through investment from Atterbury Property, Attacq Ltd, The Frontier Property Trust and Demushuwa Property Developer (Pty) Ltd, The Grove is located in the Hilltop mixed-use estate in Kleine Kuppe  and is largest shopping centre ever to be developed in Namibia, measuring 52 000 square metres, at a cost of N$1 billion.

Choosing to buy or rent, is an important decision that affects your financial well-being, lifestyle, and personal goals. Whichever option you choose depends entirely on your lifestyle and financial situation. Both require a regular income and may also require a certain degree of effort to maintain.  

 Ah! The Age-Old Question in Real Estate, a very honest answer is, it depends.

Additions continue to account for the majority of new building plans being approved, with a total of 188 building plans worth N$107.6 million having been approved during April 2022, compared to 247 in the prior month.

Mobile Telecommunications Limited (MTC) has handed over 113 title deeds for residential plots in Oniipa to the first beneficiaries of the MTC Land Delivery Project.

A total of 198 building plans valued at N$128 million were approved by the City of Windhoek in March.

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