The City of Windhoek approved a total of 1,968 building plans valued at N$2.29 billion in 2025, representing a 0.9% increase in the number of approvals and a 3.3% rise in value compared to 2024.
In December alone, 149 building plans worth N$121.3 million were approved. This was four fewer approvals than in November, with the total value declining by N$2.6 million.
On a monthly basis, approval values fell by 2.1%, while the year-on-year decline stood at 58.1%.
According to IJG Securities, 32 buildings were completed in December with a combined value of N$26.3 million, reflecting 38 fewer completions than in November.
“In December, 116 property additions were approved, valued at N$56.1 million. This reflects a 4.9% month-on-month decline but a 7.4% increase year on year,” IJG said.
The value of additions approved rose by 10.6% month on month and surged by 92.8% year on year. For the full year, 1,564 additions were approved, worth N$661.1 million, marking an 18.3% decline in value compared to 2024.
A total of 424 buildings were completed in 2025, with a combined value of N$384.0 million. This represents a month-on-month decline of N$9.6 million, or 26.7%, and a sharp year-on-year contraction of 49.4% from N$758.5 million in 2024.
During December, 24 additions valued at N$9.2 million were completed, indicating a 140.0% year-on-year increase in volume and a 140.1% rise in value.
“Nevertheless, 283 additions worth N$96.8 million were completed in 2025, reflecting a 56.3% decline in quantity and a 44.0% decrease in value compared to the previous year,” the firm noted.
Residential activity showed mixed results. Thirty new residential units were approved in December, six more than the 24 units approved in November. The value of residential approvals rose to N$48.8 million, up N$3.5 million month on month.
However, the value of residential approvals declined by 77.5% year on year. For the full year, 330 residential units worth N$692.4 million were approved, reflecting a 20.3% drop in value and a 5.2% decline in volume compared to 2024.
In December, eight residential units valued at N$17.1 million were completed. For 2025 as a whole, 135 units worth N$231.1 million were completed, representing a 44.6% decrease from the previous year.
No commercial or industrial buildings were completed in December, while only six such units valued at N$56.2 million were completed during the year. This reflects a 66.7% year-on-year decline in both volume and value.
“Only three commercial and industrial plans worth N$16.4 million were approved in December. However, year-to-date approvals reached 74 units valued at N$937.7 million, a strong 73.6% increase year on year despite the subdued December performance,” IJG said.
