The City of Windhoek has approved 915 building plans worth N$709.2 million during the first half of 2023, which is 19.7% lower than the number of approvals over the same period last year, and 6.1% lower in value terms.
“The number of approvals has dropped consistently from January 2022 and by the end of June was down 21.7% y/y, while the value of approvals was down 21.5% y/y,” IJG said.
On a twelve-month cumulative basis, 2,243 building plans worth N$1.71 billion were approved, a decline of 8.9% in number- and 3.9% in value terms over the comparative 12-month period a year ago according to IJG.
The municipality in June approved a total of 190 building plans, which is 26 more than in May, representing a 15.9% month on month (m/m) increase worth N$217.7 million, 80.3% or N$96.9 million higher than May’s approvals.
The increase according to IJG was driven primarily by a large N$100 million) commercial building plan approval.
According to the June figures, 142 additions to properties valued at N$55.1 million were approved.
“This is the highest monthly number of additions to properties we have seen thus far in 2023. The monthly average value of additions to properties approved stood at N$44.3 million at the end of June, which is N$20.3 million lower than the average was over the first half of 2022, and N$10.7 million lower than the average of the first half of 2020, which contained the lockdown periods. 18 Additions to properties were completed during the month,” according to IJG.
A total of 42 residential units valued at N$53 million were approved in June.
“This is 12 more than last month, but worth N$2.3 million less. Year-to-date, 205 residential building plans, worth N$233.0 million have been approved in 2023, which is 45.6% lower in number terms than we saw at the same point last year, and 24.9% lower in value terms,” IJG noted.
June according to IJG data, saw six commercial and industrial building plans approved worth N$109.6 million.
“One of the approvals, planned for in the Kleine Kuppe area, is worth N$100 million. This brings the year-to-date approvals to 28 valued at N$210.4 million, 11 more than during the first half of 2022 and worth N$153.0 million more.”
