The City of Windhoek approved 169 building plans worth N$166.3 million in November, marking an 18.2% month-on-month increase in value but a 22.1% decrease in the number of approvals, latest data shows.
According to IJG Securities, the approvals’ value is slightly below this year’s average of N$175.3 million.
“Year-to-date, 1,809 plans were approved, valued at N$1.93 billion, marking a 2.2% y/y increase in number terms and a 36.3% y/y increase in value terms,” added IJG.
Similarly, over the past 12 months, 1,903 building plans valued at N$2.01 billion were approved, marking a 1.2% y/y increase in approvals and a 37.1% y/y increase in value compared to the previous year.
Meanwhile, in November, 87 building plans worth N$116.4 million were completed, reflecting a 101.1% y/y increase in value compared to last year.
This also represents a 141.7% y/y increase in the number of completed buildings. It must, however, be noted that November 2023 was a relatively weak month.
In November, 133 additions valued at N$52.8 million were approved, a 36.9% m/m decrease in monetary terms.
“Year-to-date, 1,428 additions worth N$779.9 million were approved, marking a 5.3% y/y increase in number terms and a 17.7% y/y increase in value when compared to the same period last year,” said IJG.
Over the past 12 months, 1,513 property additions valued at N$819.3 million were approved, showing a 4.5% y/y increase in the number of additions and a 19.8% y/y rise in their value compared to the prior period.
In November, 33 residential building plans valued at N$58.5 million were approved, representing a 2.7% m/m increase in value, though showing a 5.7% m/m decrease in the number of approvals from October.
“When compared to the same period last year, there was a 65.0% y/y rise in approvals and an 184.8% y/y increase in the value of approved residential units. Additionally, 28 residential buildings, with a total value of N$90.5 million, were completed in November,” noted IJG.
Moreover, three commercial and industrial building plans were approved in November, valued at N$55.0 million.
One commercial and industrial building valued at N$9.5 was completed during November.
