FNB Namibia forecasts rentals to further increase going forward but warns that affordability concerns, driven by subdued real wage growth could impact the momentum. The increase in the share of rental listings for one-bedroom units from 34.9% in Q1 2021 to 47.4% in Q1 2022 has also been attributed to affordability concerns by the report, with a total rental listing for the period up 10% y/y and 15.3% q/q. FNB further notes that the slow wage growth and associated costs of owning a property will drive most Generation Z to rent rather than buy a home.
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