A total of 221 building plans to the value of N$86.7m were approved by the City of Windhoek in October 2014. On a year‑to‑date basis (January to October), 2,479 plans were approved compared to 2,816 plans over the same period last year. In value terms, however, plans approved year-to-date are worth N$1,923.8m compared to N$1,920.9m for the same period in 2013, up 0.1%. This increase is mostly due to three large commercial projects that were approved by the municipality in February 2014. On a monthly basis, 80 less plans were approved than in September, more or less in line with the average of 255 plans approved per month over the last three years. The value of plans approved is down 58.7% m/m.
The 12 month cumulative number of plans approved lost some momentum during October, falling to 2,963 compared to 3,074 in September, with the year-on-year growth rate contracting by 12.2%, posting negative growth for the sixth consecutive month, as shown in the graph below. The 12-month cumulative value of plans approved totaled N$2,241.4m, up 0.6% y/y.
