Property market still under pressure

Residential property prices in Namibia have contracted for six of the first seven months of 2018, FNB Namibia says in its latest housing index.
The average property price in the country at the end of July was N$1.29 million.
FNB Namibia expects house prices to shed 5.8% of their value this year, and to start seeing some price resistance in 2019 as housing becomes increasingly affordable to a “select few”, according to FNB Namibia’s group economist, Namene Kalili.