The City of Windhoek approved a total of 187 building plans in May, representing a 25.2% m/m decrease from the 250 building plans approved in April. In monetary terms, the approvals were valued at N$173.0 million, a 26.1% m/m decrease. 183 buildings with a value of N$67.13 million were completed during May, a 27.9% m/m decrease in value terms. Year-to-date building approvals are 66.3% and 24.8% higher in number and value terms, respectively, than during the same period in 2020. This increase is however mostly due to stagnant construction activity during the lockdown last year. Year-to-date, the number of completed buildings increased by 23.3% y/y to 678, while the value of these completions fell marginally by 3.6% y/y from N$380.0 million in 2020 to N$366.5 million in 2021. On a twelve-month cumulative basis, 2,684 buildings with the value of N$2.01 billion were approved, an increase of 47.7% y/y in number, and 10.7% y/y in value.
In May, 105 additions to properties were approved with a value of N$55.4 million, while 125 additions worth N$28.1 million were completed during the month, as the category continues as the main contributor to the total approvals and completions. Additions to properties approved fell 36.7% m/m in number and 40.4% m/m in value terms.
New residential units were the second largest contributor to the total number of building plans approved in May, and the largest contributor in value terms. 78 new units worth N$92.6 million were approved in May, representing a 28.5% m/m decrease from the N$129.5 million worth of approvals in April. On a 12-month cumulative basis, residential units approvals recorded a 125.3% y/y increase in value. 58 new residential units worth N$39.0 million were completed during the month, representing an increase in value of 17.7% m/m, but a decrease of 21.6% y/y.
Four new commercial units, valued at N$25.0 million, were approved in May, translating to a 115.3% m/m increase in value terms. Year-to-date, there have been sixteen commercial building approvals valued at N$51.1 million, which is 33.3% lower in number terms and a 79.3% decrease in value terms compared to the same period last year. On a rolling 12-month perspective, the number of commercial and industrial approvals have slowed to 33 units worth N$135.3 million as at May, compared to the 56 approved units worth N$652.9 million over the corresponding period a year ago. No commercial and industrial units were completed in May.
