Lüderitz rent prices soar ahead of energy boom

Rent has increasingly become a topic of conversation at Lüderitz, as more people flock to the town in search of better opportunities.

The coastal town, which is in close proximity to oil, gas and green energy development projects, has seen an influx of people looking for employment as business is expected to flourish at the town.

However, residents worry about the impact of these changes on accommodation.

Housing has reportedly become unaffordable to low and middle-income residents, with wealthier people buying properties, renovating them and charging higher rent prices.

Eilas Thomas, who left Walvis Bay and came to Lüderitz looking for work, says: “I recently started looking for a place [to rent]. At first [rent] was N$2 500, but it went up suddenly as more people became interested in the property.”

While increases can be linked to demand, residents argue that increased demand alone does not account for these changes.

Loui Fransman, another resident, says the increased rent prices are related to oil and gas developments in the area. Although developments in Namibia’s energy sector are expected to improve employment prospects, residents like Fransman fear that housing and the supply of already scarce water will become an issue in the future.

Last year, Lüderitz’s mayor, Phil Balhao, said property values at the town had increased by 30 to 50% since 2023.