Staff Writer
Owning a home remains out of reach for many Namibians as property prices continue to rise. Entry-level apartments in Windhoek start at about N$525 000, while modest houses can reach close to N$2 million.
High deposits and transfer costs have made it harder for young professionals and middle-income earners to enter the market.
Nedbank Namibia has launched its “Unlock Your First Home” initiative to address this challenge. The bank has set aside a lending portfolio for first-time homebuyers as part of efforts to improve access to housing.
Nedbank Namibia head of lending, Chane Isaaks, said the aim is to reduce barriers to entry.
“We recognise that buying a home isn’t only about qualifying for a loan; it’s also about overcoming the upfront barriers that keep so many Namibians from taking that first step.”
The bank is offering up to 108% financing to its clients. This allows buyers to cover both the property cost and related expenses such as transfer and bond costs without a large upfront deposit. The offering also includes interest rates set at 1% below the bank’s home loan base rate.
Isaaks said the initiative is aimed at easing pressure on buyers.
“This is about giving hardworking Namibians room to breathe. We want first time buyers to focus on building their future, not battling financial roadblocks.”
The campaign also focuses on homes that are ready for immediate occupation. Nedbank said this approach is meant to support a smooth transition from renting to owning.
The bank said the initiative forms part of its broader #GetMoneyFit programme, which focuses on financial wellbeing.
Isaaks said the impact goes beyond housing.
“When we help a family move from renting to owning, we’re not just financing a building, we’re strengthening stability, dignity, and economic growth in our communities.”
