Oil could reshape coastal housing dynamics
Bank Windhoek predicts that recent oil and gas discoveries will significantly reshape Namibia’s coastal property market and industrial housing demand over the next decade. This was said by Bank Windhoek chief financial officer and acting executive officer of specialist finance Zenaune Kamberipa while speaking at the Bank Windhoek Coastal Estate Agent Awards at Swakopmund on […] The post Oil could reshape coastal housing dynamics appeared first on The Namibian.
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Bank Windhoek predicts that recent oil and gas discoveries will significantly reshape Namibia’s coastal property market and industrial housing demand over the next decade.
This was said by Bank Windhoek chief financial officer and acting executive officer of specialist finance Zenaune Kamberipa while speaking at the Bank Windhoek Coastal Estate Agent Awards at Swakopmund on Friday.
“In this environment, banking is not passive; it is catalytic,” he said.
“As demand rises for housing finance, commercial property loans and industrial funding linked to oil and gas activity, we remain committed to partnering with the coastal property sector to support growth that is not only faster, but also fairer and more resilient,” he said.
Kamberipa said the coast now accounts for around one fifth of Namibia’s housing transactions – an indicator of strengthening demand supported by lifestyle migration, tourism investment and rental market growth.
He noted confidence in development activity at Swakopmund, building approvals rising, and nearly 9 out of 10 approvals being linked to residential development.
Kamberipa warned that momentum without management could become pressure, with key constraints including affordability, subdued mortgage growth, and supply limitations that can push rental prices upward.
– email: matthew@namibian.com.na
The post Oil could reshape coastal housing dynamics appeared first on The Namibian.
