Windhoek recorded an 87% month-on-month decline in the value of approved building plans in April 2025, dropping from N$1 billion in March to just N$145 million, according to the latest report by Simonis Storm.
Swakopmund also saw a sharp drop of 44% over the same period, with approvals falling from N$80 million to N$45 million.
Despite the steep monthly decline, Junior Economist Almandro Jansen from Simonis Storm noted that the cumulative value of building plan approvals in Windhoek had reached N$1.4 billion for the year to date.
Swakopmund’s total for the same period stood at N$199 million, a significant decrease from the N$2.2 billion recorded during the first four months of 2024.
“The regional divergence in approvals is notable. While Windhoek is experiencing a contraction in project value, Swakopmund is seeing a gradual recovery in the number of approvals, albeit from a much lower base,” said Jansen.
In terms of volume, Windhoek saw a 28% month-on-month decline in the number of approved plans, falling from 205 in March to 146 in April. Swakopmund, in contrast, recorded a slight increase from 63 to 64 approvals.
Year-to-date figures highlight the divergence further. Windhoek’s approvals are down 10% compared to the same period in 2024, with 584 plans approved so far this year compared to 650 last year.
Meanwhile, Swakopmund recorded a 69% increase in approvals, rising from 170 to 287 between January and April.
A breakdown of April’s approvals shows that in Windhoek, 77% were for residential additions, while only 3% were for commercial projects.
“Swakopmund was even more skewed, with 92.1% of approvals for residential projects, and just 3% for commercial and industrial developments combined,” Jansen said.
Completion data reflects similar trends. In Windhoek, 181 buildings were completed in the first four months of 2025, with a total value of N$390 million — down from 268 completions worth N$770 million during the same period in 2024.
However, there was a rebound in April, with 84 projects completed, up from just 24 in March. The value of these completions rose from N$22 million to N$53 million.
“Swakopmund’s year-to-date completions fell from 217 to 139 buildings, while the total value declined from N$404 million to N$128 million. Monthly completions dropped in April to 21 buildings worth N$13 million, down from 39 buildings valued at N$44 million in March,” Jansen said.
