Namibia's luxury house prices jump 21% to N$9.25m as plot sales dry up
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FNB Namibia's second-quarter house price index shows the top end of the market rising fastest even as transaction volumes stall and residential plot sales fall 26.7% nationwide.
Namibia's luxury house prices rose 21% in the second quarter of 2026 to an average of N$9.25 million, even though only six sales were recorded in that segment, according to the latest FNB Namibia House Price Index.
The index shows homes priced above N$6.5 million recorded the biggest increase of any residential category, while the number of sales stayed unchanged from the same quarter a year earlier. Nationally, house prices rose 7.4% year on year to an average of N$1.46 million.
FNB market research manager Mandisa van Wyk said the market continued to show a gap between rising prices and property sales. “Namibia's residential property market continues to exhibit a divergence between house price growth and transaction activity, highlighting the uneven nature of the current housing cycle,” she said.
The N$1.5 million price band remained the most active part of the market with 498 sales, down 1.1% year on year, at an average price of N$942,000. Homes at the N$3.5 million level recorded 213 sales at an average of N$2.17 million, while the N$6.5 million band saw sales rise 20% to 40 transactions and average prices climb 6.6% to N$4.47 million.
Regionally, the coast posted the strongest price growth, with average house prices up 11.9% to N$1.58 million and 24.8% of national transactions. The central region accounted for 37.8% of sales, while average prices in the north fell 0.7% to N$971,000 and the south dropped 5.2% to N$905,000 on just 23 sales.
Land is tightening even faster than housing stock. Residential plot sales fell 26.7% nationally, including declines of 33.3% in the central region and 44.3% at the coast, yet average land prices per square metre rose 35.1% in the central region, 21.6% at the coast and 38.3% in both the north and south.
FNB attributed the pressure to shortages of serviced land, limited housing supply and high construction costs rather than broad demand, and said it expects those supply constraints to keep supporting prices. The bank said faster land servicing, more housing construction and stronger income growth will be needed to make homes more affordable.