Since the beginning of the year 2018, the house prices in Namibia have contracted significantly. Between the years 20 , the From 2018 to 2020 , the house reduced by 20% in value according to certain market research. Due to Covid 19 , from the year 2020 , the market value of the house prices shrink drastically and the volume of sales of the properties have dropped to all time low. It has been estimated that the house prices have shrunk on the average 6%. Consider the fact the economy is on a downturn with minimal chances of recovery in near future, i.e., till 2024 , according to economists. And the economy is expected to recover at the rate of 3% yoy from 2024. A residential property priced at N$1,500,000.00 and the interest rate on a 20 year mortgage bond is 10.25% p/a. Assume that you are investing in the property in 1st. January 2023. Question 1: Estimate the monthly mortgage payment. Assume that the rates \& taxes on the property is 1% of its valuation by municipality. The valuation of the property according to municipality is the market value. Question 2: Estimate the rates \& taxes per month. The maintenance of the property requires 0.3% of its market value in every year. Assume that the housing market will recover by 2025 . The recovery of housing market will increase the value of residential properties at the rate of 5% per annum for the next 10 years before it hits the situation similar to present the Assume that the contraction will be approximately at the rate of 6% per annum for next 5 years till 2042. Since the beginning of the year 2018, the house prices in Namibia have contracted significantly. Between the years 20 , the From 2018 to 2020 , the house reduced by 20% in value according to certain market research. Due to Covid 19 , from the year 2020 , the market value of the house prices shrink drastically and the volume of sales of the properties have dropped to all time low. It has been estimated that the house prices have shrunk on the average 6%. Consider the fact the economy is on a downturn with minimal chances of recovery in near future, i.e., till 2024 , according to economists. And the economy is expected to recover at the rate of 3% yoy from 2024. A residential property priced at N$1,500,000.00 and the interest rate on a 20 year mortgage bond is 10.25% p/a. Assume that you are investing in the property in 1st. January 2023. Question 1: Estimate the monthly mortgage payment. Assume that the rates \& taxes on the property is 1% of its valuation by municipality. The valuation of the property according to municipality is the market value. Question 2: Estimate the rates \& taxes per month. The maintenance of the property requires 0.3% of its market value in every year. Assume that the housing market will recover by 2025 . The recovery of housing market will increase the value of residential properties at the rate of 5% per annum for the next 10 years before it hits the situation similar to present the Assume that the contraction will be approximately at the rate of 6% per annum for next 5 years till 2042