Namibians Need N$44 000 Salary to Afford Homes

Namibians Need N$44 000 Salary to Afford Homes

A severe housing shortage is pushing property prices out of reach for average Namibians, leaving thousands with little choice but to live in informal settlements.

Average house ownership requires N$43 765 gross monthly income – Windhoek Observer

CHAMWE KAIRA Owning an average-priced home in Namibia is increasingly out of reach for ordinary earners, with prospective buyers needing a gross monthly income of about N$43 765 to qualify for a mortgage under current lending assumptions, according to a new Simonis Storm Research report. The finding highlights the widening gap between house prices and household incomes, as more than half of Namibian adults earn N$2 000 or less per month, while t…