The Namibia Statistics Agency (NSA) reveals the total value of buildings completed in June 2024 amounted to N$96.3 million, with Windhoek accounting for the largest share of 53.7%.
Windhoek was followed by Swakopmund and Walvis Bay in second and third places, with shares of 31.4% and 10.7%, respectively.
This justifies the 46.7% year-on-year increase in permits issued for buildings completed for Windhoek, Swakopmund, Walvis Bay and Ongwediva.
NSA data shows a month-on-month decline of 25.9% in June 2024, as compared to a reduction of 38.5% posted in the preceding month.
“A total of 121 permits were issued for additions and alterations during the month of June 2024, compared to 174 permits issued in May 2024 and 51 permits issued in June 2023,” the NSA Building Completed report said.
Meanwhile, NSA said the monthly decline is attributed to decreases in completed commercial buildings, renovations, and residential units.
It said the index increased by 46.7% compared to the same time last year.
The report detailed a synoptic forecast of 4 types of buildings: residential, commercial, industrial, and institutional.
NSA said in June 2024, the Residential Buildings Completed Index fell by 8.7% from the previous month, a smaller decline compared to the 65.7% decrease recorded in May.
Despite the monthly decline, the index rose by 1.6% year-on-year.
“The monthly decline for residential buildings recorded during the review period was primarily driven by reductions in residential buildings completed index for Swakopmund (-19.0%) and Windhoek (-15.8%),” NSA said.
In June 2024, NSA said the commercial buildings fell by 50.0% from the previous month, reversing the 166.7% increase recorded in May.
Despite the monthly decline, the index rose by 100.0% compared to the same period last year.
“The commercial buildings declined by 50.0% on a monthly basis, in contrast to a growth of 166.7% observed in May 2024. Furthermore, the index increased by 100.0% year-on-year,” NSA said.
In spite of a notable increase in the Residential and Commercial Buildings Completed Index, the Industrial and Institutions Buildings Completed Index remained unchanged on a monthly basis.
However, the Institutions Buildings Completed Index saw a 100.0% decline year-on-year, while the Industrial Buildings Completed Index showed no change compared to the previous year.
