WINDHOEK: First National Bank (FNB) of Namibia is eager to partner with low-cost housing providers for the construction of houses in the country, which are currently in real short supply.
FNB Chief Executive Officer Ian Leyenaar called on low-cost housing developers to team up with the commercial bank to ease the burden of housing shortages, and to make housing more affordable to the masses during a breakfast meeting to discuss the bank’s 2012 Annual Report here yesterday.
Leyenaar predicted that housing shortages will continue, and prices will be inflated until such a time when more houses are built for Namibians.
High prices for residential plots have colluded with the cost of building materials to make housing unaffordable for ordinary Namibians.
Meanwhile, the latest housing index released by FNB last month indicated that land delivery across the country continued to deteriorate, in contrast to growing demand.
At a current housing backlog of 105 000, the commercial bank said only 29 stands were mortgaged countrywide throughout the month of April.