{"id":22506,"date":"2019-10-29T16:29:49","date_gmt":"2019-10-29T14:29:49","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=22506"},"modified":"2019-10-29T16:29:51","modified_gmt":"2019-10-29T14:29:51","slug":"building-plans-september-2019","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-september-2019\/","title":{"rendered":"Building Plans \u2013 September 2019"},"content":{"rendered":"\n
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A total of 202\nbuilding plans were approved by the City of Windhoek in September. This is a 4.7%\nincrease in the number of plans approved on a monthly basis when compared to\nthe 193 building plans approved in August. In monetary terms, the approvals\nwere valued at N$432.2 million, an increase of N$296.7 million or 218.9% compared\nto last month. The number of completions for the month of September stood at 225,\nvalued at N$110.0 million. The year-to-date value of approved building plans\ncurrently stands at N$1.57 billion, 0.7% lower than as at the end of the third\nquarter of 2018. On a twelve-month cumulative basis, 1,986 building plans worth\napproximately N$1.83 billion were approved, a decrease in number of 9.1% y\/y, but\na contraction of 5.6% in value terms over the prior 12-month period.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The largest portion of building plan\napprovals was once again made up of additions to properties, from a number\nperspective. 160 additions to properties were approved in September, a 3.9%\nincrease over the number of additions approved in August. Year-to-date 1,221\nadditions to properties have been approved with a cumulative value of N$579.2\nmillion, a decline of 22.6% y\/y in terms of value compared to the same period\nin 2018. Completed additions amounted to 206, valued at N$85.6m, increasing by\n171.1% y\/y in number and 69.1% y\/y in value. Year-to-date 813 additions have\nbeen completed to a value of N$395.0m, decreases of 55.4$ y\/y in number and\n36.2% y\/y in value.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

New residential\nunits were the second largest contributor to the number of building plans\napproved with 35 approvals registered in September, compared to 34 in August. In\nvalue terms, N$43.6 million worth of residential units were approved in\nSeptember, a 2.5% m\/m increase. 285 New residential units valued at N$442.0m were\napproved in the first nine months of 2019, 28.2% y\/y less in number and 3.9%\ny\/y less in value than during the corresponding period in 2018. The\nyear-to-date value of residential approvals reached N$442.0 million, 3.9% lower\nthan during the corresponding period in 2018. 19 residential units valued at\nN$24.3m were completed in September bringing the year-to-date number to 225, up\n275.0% y\/y, and value to N$323.2m, up 216.2% y\/y. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Commercial and industrial building\nplans approved in September amounted to 7 units, worth N$311.1 million. The\nnumber of approvals for commercial and industrial properties has been\nlanguishing in single digit territory since September 2016 and has an average\napproval rate of less than 4 approvals per month over the last 12 months. On a\n12-month cumulative basis, the number of commercial and industrial approvals\nhas decreased by 15.4% y\/y in September to 44 units, worth approximately\nN$557.5 million, an increase of 34.5% in value terms over the prior 12-month\nperiod. It should however be noted that a single commercial building plan\napproved in September, a N$250.0 million project by Nedbank approved for the\ncity centre, propped up the value approved year-to-date, saving the category\nfrom recording another contraction. No commercial and industrial building plans\nwere recorded as completed in September. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

During the last\n12 months, 1,986 building plans have been approved, decreasing by 9.1% y\/y.\nThese approvals were worth a combined N$1.83 billion, a decrease in value of\n5.6% y\/y. The number of building plans approved, on a cumulative 12-month\nbasis, has been contracting over the last three months. The overall decrease in\nboth number and value of cumulative plans approved is concerning as, even in\nnominal terms, this indicates a continuing decrease of construction activity in\nthe capital. Low consumer and business confidence means that growth in\nconstruction activity will likely remain subdued for the short- to medium-term.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 202 building plans were approved by the City of Windhoek in September. This is a 4.7% increase in the number of plans approved on a monthly basis when compared to the 193 building plans approved in August. In monetary terms, the approvals were valued at N$432.2 million, \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,6],"tags":[],"class_list":["post-22506","post","type-post","status-publish","format-standard","hentry","category-buildingplans","category-economicresearch"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/comments?post=22506"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22506\/revisions"}],"predecessor-version":[{"id":22513,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22506\/revisions\/22513"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=22506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=22506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=22506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}