{"id":23503,"date":"2020-02-12T15:46:21","date_gmt":"2020-02-12T13:46:21","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=23503"},"modified":"2020-02-12T15:46:23","modified_gmt":"2020-02-12T13:46:23","slug":"building-plans-december-2019","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-december-2019\/","title":{"rendered":"Building Plans \u2013 December 2019"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

A total of 91\nbuilding plans were approved by the City of Windhoek in December, which is a 51.1%\nm\/m decline from the 186 plans approved in November. In value terms, however,\napprovals increased by 34.6% m\/m to register N$166.4 million worth of approvals\nin December compared to N$123.6 million in November. A total of 45 buildings\nwith a total value of N$36.4 million were completed during December,\nrepresenting declines of 82.5% m\/m and 84.5% m\/m in the number and value of\ncompletions, respectively. A total of 2,032 building plans were approved in\n2019, 86 fewer than in 2018. However, in value terms approvals increased by\n8.3% in 2019, rising to N$1.99 billion from N$1.84 billion in 2018.<\/p>\n\n\n\n

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

Additions to properties once again\nmade up the majority of building plans approved in 2019. Of the 2,032 building\nplans approved in 2018, additions accounted for 1,630 of those approvals, 35\nmore than in 2018. In value terms however, approvals of additions for the year\ndeclined by N$151.2 million or 16.3% y\/y. The value of additions approved has\nbeen contracting for the past four years, with the 2019 decline of 16.3% following\nthe 13.5% contraction recorded in 2018. 65 additions were approved in December,\n100 fewer than in November and 62.1% lower in value terms at N$32.8 million. During\nthe year, 1,275 additions have been completed to a value of N$689.5 million, a\ndrop of 43.9% y\/y in number and 8.1% y\/y in value.<\/p>\n\n\n\n

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

New residential\nunits were the second largest contributor to the total number of building plans\napproved with 355 approvals registered in 2019, 125 less than in 2018. In value\nterms new residential units approved increased from N$532.2 million in 2018 to\nN$640.8 million in 2019. On a month-on-month basis, the number of new\nresidential approvals increased by 43.8% to 23 in December, while the value of\napprovals increased by 338.4% to N$123.0 million. This increase in value is\nmostly due to a single large residential approval of N$77.0 million in\nKhomasdal. 29 Residential units valued at N$29.5 million were completed in\nDecember, bringing 2019\u2019s total number to 308, up 280.2% y\/y, and value to\nN$409.5 million, up 290.8% y\/y.<\/p>\n\n\n\n

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

A total of 47 commercial and\nindustrial units were approved in 2019 compared to the 43 approved in 2018. In\nvalue terms, commercial and industrial approvals rose by N$195.3 million or\n51.4% for the year in 2019 from the N$380.3 million reported in 2018. On a month-on-month\nbasis, a total of three commercial and industrial projects worth N$10.65\nmillion were approved in December, representing a 40.0% m\/m reduction in terms\nof number, but an increase of 16.4% m\/m in terms of value. No commercial and\nindustrial buildings were completed in December, leaving 2019\u2019s number of\ncompleted buildings in this category unchanged at 29, an 81.3% y\/y increase. In\nvalue terms, N$185.5 million worth of commercial and industrial units were\ncompleted in 2018, representing an increase of 249.9% y\/y.<\/p>\n\n\n\n

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

The number of\nbuilding plans approved in 2019 declined by 4.1% compared to 2018 and the\ncumulative number of plans is down 40.3% from its peak in 2013. Although there\nhas been an 8.3% y\/y increase in the cumulative value of approvals to N$1.99\nbillion in 2019, the cumulative value of approvals is still down 23.6% from the\npeak in 2013 in nominal terms. Building plans approved is a leading indicator\nof economic activity in the country and the above data implies that the\nNamibian economy is still showing signs of hardship. The value of plans\ncompleted has however recovered more significantly during 2019 as can be seen\nin the below figure.<\/p>\n\n\n\n

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

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

A total of 91 building plans were approved by the City of Windhoek in December, which is a 51.1% m\/m decline from the 186 plans approved in November. In value terms, however, approvals increased by 34.6% m\/m to register N$166.4 million worth of approvals in December compared to N$123.6 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-23503","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\/23503","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=23503"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/23503\/revisions"}],"predecessor-version":[{"id":23510,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/23503\/revisions\/23510"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=23503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=23503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=23503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}