Is Real Estate Investing Safe In Namibia?
Namibia is ranked amongst the world's most politically stable countries. The Namibian government is committed to stimulating economic growth and employment through the attraction and retention of investments.
Thanks to its stable political climate and resilient economy, Namibia is a solid option for real estate investment. With a diversified economic structure that includes mining, agriculture, and tourism, it promises sustainable growth.
Namibia offers exceptional value for money when it comes to property prices. Compared to other African countries and some global markets, real estate in Namibia maintains its affordability.
Foreign individuals and entities can own commercial land in Namibia, subject to certain restrictions and conditions. However, the government has, at times, imposed restrictions on foreign land ownership, especially in specific areas or near the borders.
South Africans can buy property in Namibia through estate agents and agencies in Namibia. Once you have obtained your non-resident buyers permit from the Namibian Ministry of Home affairs, you can start looking for properties and making offers.
Any purchase of farm land in Namibia must abide by the rules of the land, and foreign purchasers are well advised to adapt to the law of the land or they certainly may be the subjects of forfeiture. Government policy says a foreigner may only obtain a 49% share in a company owning agricultural land.
To qualify for a permanent residency, you must have lived in the country for 10 years, and after a total of 20 years you can apply for Namibian citizenship.
The Namibian Department of Home Affairs is clear that the new program is aimed at wealthy expat retirees, along with their investments and spending, to the country. Indeed, most initial applications have come from German nationals, with South Africans a close second.
