{"id":25576,"date":"2020-09-07T16:00:24","date_gmt":"2020-09-07T14:00:24","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=25576"},"modified":"2020-09-07T16:00:27","modified_gmt":"2020-09-07T14:00:27","slug":"building-plans-august-2020","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-august-2020\/","title":{"rendered":"Building Plans \u2013 August 2020"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

The City of\nWindhoek approved a total of 235 building plans in August, 10 fewer than in\nJuly. In value terms approvals fell by N$29.2 million to N$111.9 million, a\n20.7% m\/m and 17.4% y\/y decrease. A total of 275 completions to the value of\nN$395.0 million were recorded in August, a rather substantial 183.5% y\/y\nincrease in number and 302.5% y\/y in value. The year-to-date value of approved\nbuilding plans reached N$1.08 billion, 5.0% lower than the comparative period a\nyear ago. On a twelve-month cumulative basis, 2,049 building plans were\napproved worth approximately N$1.94 billion, 25.3% higher in value terms than\napprovals at the end of August 2019.<\/p>\n\n\n\n

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

The majority of building plan\napprovals were made up of additions to properties. For the month of August 158\nadditions were approved worth N$64.0 million, 6.6% more in value terms than in\nJuly, although the number of additions approved fell by 7.6%% m\/m. Year-to-date,\n1,018 additions have been approved with a value of N$453.7 million, a 9.6% y\/y\ndecline in value terms. 118 additions worth N$28.7 million were completed\nduring the month.<\/p>\n\n\n\n

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

New residential\nunits accounted for 76 of the total 235 approvals registered in August, 5 more\nthan the 71 residential units approved in July. In monetary terms, N$33.0\nmillion worth of residential units were approved in August, representing a\n22.5% m\/m and 54.4% y\/y decrease. 306 New residential units have been approved\nthus far in 2020, 22.4% more than during the corresponding period in 2019. The\nyear-to-date value of residential approvals reached N$348.5 million, 12.5%\nlower than during the same period in 2019. 156 new residential units worth\nN$353.8 million were completed during the month.<\/p>\n\n\n\n

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

Only 1 new commercial unit, valued at\nN$15.0 million, was approved in August, bringing the year-to-date number of\ncommercial and industrial approvals to 32, worth a total of N$276.0 million. On\na rolling 12-month basis, the number of commercial and industrial approvals\nhave slowed to 51 worth N$616.5 million as at August, representing an increase\nof 18.6% y\/y in number terms and 89.9% y\/y in value terms. It is important to\nnote however that these increases are mostly attributable to base effects with\na large approval in September 2019 contributing to the increases.<\/p>\n\n\n\n

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

In the last 12\nmonths 2,049 building plans have been approved, increasing by 5.8% y\/y. These\napprovals were worth a combined N$1.94 billion, an increase in value of 25.3%\ny\/y. While this sounds like a strong recovery, the increase is mostly as a\nresult of base effects as a result of very little building activity in 2019. As\nthe graph above shows, on an inflation-adjusted basis, the 12-month cumulative\nvalue of approvals is still going down steadily and currently trends at levels\nlast seen in 2010.<\/p>\n\n\n\n

The completions\ndata also paints a particularly positive picture when judged at face value.\nDelving a bit deeper into the numbers however shows that 140 of the 275\ncompleted buildings in August were at Omeya. In our opinion it is unlikely that\nsuch a high number of buildings were completed in the month, and could simply\nbe due to the City of Windhoek catching up on its backlog.<\/p>\n\n\n\n

Going forward we\nexpect lower value additions to properties to continue making up the majority\nof approvals.<\/p>\n\n\n\n

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

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

The City of Windhoek approved a total of 235 building plans in August, 10 fewer than in July. In value terms approvals fell by N$29.2 million to N$111.9 million, a 20.7% m\/m and 17.4% y\/y decrease. A total of 275 completions to the value of N$395.0 million were recorded in \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-25576","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\/25576","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=25576"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/25576\/revisions"}],"predecessor-version":[{"id":25583,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/25576\/revisions\/25583"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=25576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=25576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=25576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}