With its spectacular scenery, variety of outdoor recreational activities and sound infrastructure, Namibia offers a playground for both local residents and tourists, particularly popular among those from neighbouring countries such as South Africa and Angola.
Historically and particularly given the proximity, many South Africans have enjoyed camping, fishing and off-road excursions on leisure trips to Namiba. With similar banking and property laws, Namibia is a ‘familiar’ environment for South African investors and residential property can be purchased and sold without restrictions and offers sound returns.
In helping meet a strong demand for both permanent and leisure homes, attractive investment opportunities are becoming available in new residential developments in major centres such as Windhoek and Swakopmund, says Paul Kruger, Pam Golding Properties joint area principal in Namibia.
One of the most popular tourist destinations among locals and other visitors, Swakopmund is located at the mouth of the Swakop River, adjacent to the Atlantic Ocean and surrounded by the Namib Desert. This is an appealing town with numerous tourist attractions including distinguished buildings and museums, coffee shops, restaurants, nightclubs, bars and hotels in a vibrant town centre.
Against the contrasting backdrop of ocean and desert, Swakopmund has grown from a tiny population circa 1892 to the present-day approximately 42 000 residents. And since it is situated only 360km from the capital of Windhoek, this is an ideal getaway weekend location. Swakopmund also has its own airport, with an international airport in nearby Walvis Bay providing connections via Windhoek, Cape Town and Johannesburg, while the Trans-Kalahari highway passes through Swakopmund, connecting with inland towns and neighbouring countries.
Says Kruger: ”All these attributes have helped create a strong holiday rental market as well as a demand from buyers seeking to invest in their own holiday homes in the town. There’s no doubt that being a highly sought after tourist destination has significantly boosted Swakopmund’s property values, making it a prime investment area for Namibians and foreigners alike.”
Pam Golding Properties is currently marketing a brand new, 44 unit residential development, ‘Ocean View Villas’ in Swakopmund, ideally positioned between a proposed new mixed-use, waterfront development and Mile 4 – a suburb renowned for its beach and shore-angling. The planned new mixed-use waterfront development will offer a waterfront retail and lifestyle centre incorporating shopping, entertainment, breakwater, boat launch, luxury seafront apartments and a hotel.
Modern and spacious and with quality finishes, Ocean View Villas comprises double-storey townhouses which are selling off-plan at competitive launch prices ranging from N$1.6 million (Namibian Dollar equivalent to SA Rand), with a N$20 000 deposit required to secure a unit. There are 18 units available in phase one, with each townhouse consisting of 205 square metres with three bedrooms, two bathrooms, fitted kitchen, open plan lounge / dining room, small garden and double garage. The balance of units will be developed in phase two.
“Being aligned with the new waterfront development, Ocean View Villas is ideally placed to capitalise on the direct socio-economic impact of this on the demand for residential units in Swakopmund,” says Kruger. “As Swakopmund is well-established as a favourite weekend and holiday destination, the new Ocean View Villas development is an ideal option for buyers seeking their own holiday home, for buy-to-let investors or for those seeking a highly desirable permanent residence in a prime location – including professionals working in the vicinity.
“Capital growth in the area is approximately 10 percent per annum, so effectively the buyer is acquiring a very attractive property investment with only a N$20 000 deposit required immediately and with transfer of the unit only once construction is completed. With a timeline of about one to two years for completion, this means the buyer is achieving capital growth of around 10 to 20 percent before transfer. For those who wish to let their homes out when not in use, or for rental income, there is a strong demand for both holiday and permanent rental accommodation, particularly in prime locations such as this,” he says.
The entire Ocean View Villas development will be enclosed with a two metre boundary wall with electric fence, with 24 hour security guards with access control for visitors, remote control gates and other security features. Construction is about to commence on a few show units.