Aug 28

Local housing prices surge

Namibia’s property market has witnessed a staggering 1,258% surge in average housing prices between January 1990 and March 2023. According to research by Simonis Storm, the average cost of a house in Namibia has increased by 13-fold during this span raising concerns, particularly among the 18 to 35 age group, as they grapple with an alarming unemployment rate of nearly 60%.