Black entrepreneurship in the real estate sector in Namibia: Constraints and prospects.
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Date
2003
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
NUST.
Abstract
Real estate offers a number of opportunities for entrepreneurial activity, notably in the areas of esatate agency, real estate development and consultancy services such as valuation. The real estate sector is particularly attractive to entrepreneurs because of relatively low start up capital requirements and the potential for huge returns in relatively short times. The world over is replete with examples of real estate tycoons.
Thirteen years after independence, a cursory examination of the real estate sector shows that Black Namibians have not taken advantage of the opportunities available in this sector in any significant way. This is most evident in the estate agency business, where historically, White firms dominate, and in valuation services. In fact Namibia has not even a single private real estate valuation firm operating in the country and has to rely on external consultants.
This paper examines the constraints which militate against increased Black participation in the real estate sector in Namibia. Focussing on estate agency and property valuation services, it shows that there are institutional, regulatory and other factors which work against Black participation in the real estate sector. The paper concludes by suggesting ways in which this state of affairs can be improved.
Description
International Conference on Entrepreneurship (2003 Sep. 17-18 : Windhoek, Namibia)
Keywords
Entrepreneurship Conference, 2003, Windhoek, Real estate business - Namibia, Entrepreneurship - Namibia, Conferences and workshops, Entrepreneurs, Black - Namibia
Citation
Mooya, M. M. (2003). Black entrepreneurship in the real estate sector in Namibia. Paper presented at the International Conference on Entrepreneurship, 17-18 September 2003, Windhoek Namibia.