Real estate agent on housing demand and policy

Phillipus Josef
  • 1 Day Ago
Anna Henock pursued a career in real estate after obtaining a property studies degree from the Namibia University of Science and Technology (NUST).

Her entry into the industry was guided by her interest in the property market and its potential to drive economic development.

Henock explained that the real estate sector is regulated by the Namibian Estate Agents Board (NEAB), which requires all agents to be licensed and have a fidelity fund certificate.

“This helped eliminate fake agents as registration was mandatory,” she explained.

She noted that the Urban and Regional Planning Act has played a significant role in shaping operations within the industry.

“It influenced plans for economic development, land use, housing and public safety, among other areas," she said, adding that the Act ensures that developments align with broader planning goals.

While property registration and transfer processes are generally efficient, Henock identified a recurring issue with clients lacking the necessary paperwork.

“The main challenge comes from the lack of knowledge among clients, which often delayed transactions,” she noted.

Market trends

On the rental market, Henock said demand is largely influenced by property location and maintenance.

“Better-maintained properties in prime areas are always in high demand,” she said.

Regarding affordable housing, she suggested that a board should oversee property valuations to ensure controlled prices for low-cost homes.

Furthermore, she commented on market trends, noting that most young professionals prefer living in good neighbourhoods, which has driven up residential property prices. “Commercial real estate also grew rapidly in suburbs as towns expanded,” she added.

For those entering the real estate field, Henock encourages patience and continuous learning. “Understanding market dynamics took time and experience. It wasn’t something you could master all at once,” she said.