Prime Minister Elijah Ngurare has called for urgent reforms to Namibia's housing finance system, arguing that current lending models are making homeownership increasingly unaffordable for many young Namibians. Ngurare expressed concern over the widening gap between property prices and the ability of ordinary citizens to purchase homes. He questioned why vehicles worth millions of dollars can be financed over relatively short periods, while houses of similar or lower value often require repayment periods of up to 20 years. The Prime Minister said many young professionals struggle to understand the rationale behind the current financing structure. "I am speaking from a generation that you all know very well, the young professionals out there who are saying it does not mathematically add up. A car costing N$2 million can be paid off in five or six years, but a house valued at N$800,000 can take 20 years to repay. No matter the English we use, it is very difficult to convince those who are saying it is not fair," he said. thebrief.com.na/2026/06/govt… #namibia #lendingmodels #homeownership #housing @ngurare @NamibiaOPM @CIFNamib @BankofNamibia @FinanceNamibia @NamPresidency

I disagree. A N$2.5 million bond at around 10.75% over 20 years costs roughly N$26,000 per month. The same bond over 5 years costs about N$54,000 per month. So yes, a 5-year bond is less affordable on a monthly basis, but it is significantly cheaper overall because you pay