Urban property market bullish as demand soars

Friday, April 26, 2024 | 490 Views |

Coming up: Urban areas such as Gaborone have seen an explosion in property developments, but demand still persists PIC: PHATSIMO KAPENG

The local property market continues to be robust, mainly driven by growing demand especially in the residential segment, research by First National Bank Botswana (FNBB) indicates.

FNBB is the country’s largest commercial bank by both balance sheet and number of customers, while also being the biggest property financier through various products including mortgages, refinancing tools, and property loans.

The FNBB report indicates that demand for housing in 2023 continued to outstrip supply, especially in major urban hubs, exerting pressure on prices. The disparity between supply and demand is anticipated to persist in the short to medium term, bolstering price appreciation.

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