Posted by
Letshego
on 03 Sep 25
Categories:
Finance & Budget
As Namibia’s housing market shows signs of recovery, the dream of homeownership remains elusive for many. Rising property prices, stagnant wages and limited access to affordable financing have created a widening gap between aspiration and reality. But Letshego Bank Namibia is stepping up to change that narrative and closing the gap one home at a time.
The housing affordability dilemma
Despite a rebound in property activity, affordability remains a pressing issue. According to the Namibia Statistics Agency, only 46.2% of the working-age population is economically active, and more than half earn less than N$5,000 per month. With inflation driving up housing and utility costs, and mortgage uptake still low, many Namibians are being priced out of the market.
Experts warn that the limited supply of affordable housing is pushing demand into lower-priced segments, forcing buyers to compromise on quality or location. The term “affordable housing” is becoming increasingly misleading, as even entry-level homes are out of reach for the average citizen.
Letshego’s inclusive approach to home financing
Recognising these challenges, Letshego Bank Namibia has introduced a suite of home loan products designed to meet the needs of a diverse customer base from first-time buyers to those looking to refinance, upgrade, or build.
In 2024 alone, the bank disbursed approximately N$160 million in home loans, helping over 200 Namibians achieve their homeownership goals. With a strong focus on financial inclusion, Letshego’s offerings are tailored to accommodate all income brackets, including those seeking to build or buy in proclaimed residential areas.
What sets Letshego home loans apart
- Free pre-approvals to get you started
- Free Homeowners' Insurance for the first three years at no extra cost
- Bond Takeover Support: No registration fees for bonds up to N$1.5 million
- Competitive Interest Rates
- Loan Consolidation Options: Based on property valuation and eligibility
Empowering Namibians through property ownership
Letshego Bank’s mission goes beyond lending. “We are here to empower every customer with financing that fits their unique journey. Homeownership should be within reach for all, and we are proud to play a role in helping Namibians secure lasting value and stability through property ownership,” said Denver Beukes, Head of Home Loans, Letshego Bank Namibia.
Your home, your way in urban or rural
Letshego also supports customers looking to build or improve homes in rural areas. Through partnerships with employers who have a Memorandum of Understanding (MoU) with Letshego Holdings Namibia, eligible individuals can access personal loans to renovate, build, or upgrade their rural homes, uplifting living standards across the country.
Take the first step toward your dream home
Whether you are buying in the city or building in the countryside, Letshego Bank Namibia is ready to walk the journey with you. To apply, you will need:
- Latest payslips
- Six months’ bank statements
- Valid national ID or passport
- Employment verification
Visit your nearest Letshego branch or speak to a Home Loan Consultant today and take the first step toward owning your future.
Contact any of Letshego Bank’s home loan consultants
Name: Wiliwalda Namises
Location: Windhoek
Contact details: +26481 805 9451
Email address: Wiliwaldan@letshego.com
