All your property needs under one roof at Just Property

Today we're chatting to the friendly people at Just Property – a franchise that focuses on the buying and selling of properties as well as specialising in body corporate management and the management of properties.

According to multi-award-winning agent, Gretha dos Santos who focuses on residential property, she’s been in the industry since 2009.

When asked what it's like working in the residential sales market, she says it's been an absolute rollercoaster. “When I started in 2009, we'd just come out of a recession which was followed by a boom, especially with the Angolan market buying property here. At that stage, as soon as there was a property listed on the market, it sold. At that time it felt like the golden time of the property market.

“But then come 2015 and we started noticing a decline and another recession hit and then it was Covid.”

So, what was it like in Covid when the word was essentially shutting down, and it was difficult for people to make investments. How did she navigate those waters?

“It was very difficult. It was an extremely unsure time; not only for buyers and sellers but for agents as well, since we need to advise our clients. But like all uncertain times in life, people were brave. So, people that were selling then, sold at prices that were lower than one would normally expect. They just wanted to cut their losses and run.

“But those that dared to buy during 2020, bought bargains, and were left smiling all the way.”

Now that we're in 2023, what's her view of the market?

“What we've seen from 2017 is a steady decline in prices, but since last year the prices have stabilised. So while there was no growth, I feel it is a good sign for the property market.”

She says that January 2023, like all Januaries, while it is crazy to try and sort out things, it is also a quiet month in terms of stock. “There's 'leftover' stock from last year and not much new yet, but I'm expecting the market to pick up again from mid-February.”

However, Gretha does not see any situation as a negative. "I'm a very a positive person, so when the recession started and my clients asked 'when will it stop', I would always say next year! So, I'm still feeling that this year things will go well.”

What would your advice be to someone wanting to buy a residential property?

"I would say now is the time, because we may be at the time when the market is turning again, with the curve on an upward trajectory and you don't want to buy then. You'd want to buy when properties are still priced relatively low.”

Changing markets

Next, we chat with Lona van Wyk, who focuses on residential sales and who has more than 20 years of experience in the industry. Our first question to her is what significant changes she has seen in the industry.

“When I joined the industry, selling properties was much easier than it is today. We didn't have challenges like Covid and the impact that it had on the economy, and the Namibia dollar was stronger, and it was much easier to meet clients' demands. These days there are far more challenges. The property prices were sky high and it's more difficult to engage a bank to finance a property.

“I only focus on Windhoek’s western areas, like Katutura, Goreangab, Rocky Crest, Dorado Park and Cimbabasia. I love focusing on the entry-level of the property market.”

In terms of the steps to follow if you’re in the market for a property, Lona says the first thing she always needs to know is if the client has pre-approval - basically that you know what you qualify for. “Then, if you don't have a consultant at a specific bank, I will link you up with a consultant so that we can determine what you qualify for.

“Finally, I focus on what the client's needs are. For example, it doesn't help if the client wants a pool and I show them a property that doesn't have one or take them to a property and the price is not in their range.”

Is it a buyer’s or a seller’s market right now?

“It depends,” Lona says. “It can be a buyer’s market if the price is right; but there are also many sellers dropping their prices because they bought when prices were high and due to today's socio-economic circumstances, prices have dropped and it's a challenge for them to sell their properties at a lower price,” Lona says.

In terms of what’s coming, she says there's a new development in Kleine Kuppe called Northern Valleys which will be built close to Windhoek Gymnasium. “The homes are detached, or free-standing sectional titles, so while you can still enjoy the comfort of complex living along with safety and security, the units are not attached. Each erf is almost 200 square metres and there are a variety of building styles to choose from. They start at N$1.89 million up to just over N$2 million if you opt for a double garage and double carport.”

Business background

Finally, we chat with Schantal Teichmann who is the founding member of Just Property which has been in business since 2005.

"We started as Just Letting at the time and only focused on rentals. And rentals, well, that's a different kind of ball game. But since then we've undergone a lot of changes, including joining the franchise that's very big in South Africa. Today, we handle sales and rentals.”

Schantal says that property management in Namibia remains challenging because unit owners need to pay their levies every month and often agents don't tell the tenants or buyers this in advance. “So, from our side we invoice them, but this covers fire cover and more, so you don't have to pay that extra. This also helps keep your investment intact. This is important to keep in mind when you buy in a sectional title complex.

“This aspect came my way in 2013, so it's been ten years that I've been managing body corporates very successfully as well as rental properties. Here we literally manage commercial, residential, flats - from the front door and inside through rental management, while the body corporate is from the front door and outside.”

What was that transition like?

“I had to go to SA and do a course to learn about sectional title acts. It's vital that you know the law when managing a sectional title complex, because many rules and laws are involved.

The company itself has been very successful in the past two years, winning a number of titles from banks – so our work speaks for itself. So, if you ever want to sell your property, just call us, whether it be rental, sales and management.”

Looking ahead, she says that she would like to have a Just Property office throughout the country. There's also a new office at the coast that has been operational for a year and it's doing well and delivering the same service as in Windhoek.

“We've had good times and bad times, and sometimes tenants don’t pay, but it has been a good journey.”