{"id":26739,"date":"2021-01-15T12:06:15","date_gmt":"2021-01-15T10:06:15","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=26739"},"modified":"2021-01-15T12:06:18","modified_gmt":"2021-01-15T10:06:18","slug":"building-plans-december-2020","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-december-2020\/","title":{"rendered":"Building Plans \u2013 December 2020"},"content":{"rendered":"\n
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A total of 115\nbuilding plans were approved by the City of Windhoek in December, which is a\n57.6% m\/m decline from the 271 building plans approved in November. In value\nterms, approvals fell by 68.2% m\/m to register N$75.4 million worth of\napprovals in December, compared to N$237.2 million in November. A total of 51\nbuilding plans worth N$32.0 million were completed during the month,\nrepresenting an increase of 13.3% y\/y in number, but a decline of 12.0% in\nvalue of completions. A total of 2,282 building plans were approved in 2020, 250\nmore than in 2019. However, in value terms approvals fell by 7.0% in 2020,\ndeclining from N$1.99 billion in 2019 to N$1.85 billion in 2020.<\/p>\n\n\n\n

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

Additions to properties once again\nmade up the majority of building plans approved in 2020. Of the 2,282 building\nplans approved in 2020, additions accounted for 1,601 of these approvals, 29\nfewer than in 2019. In value terms, approvals of additions for the year\ndeclined by N$78.3 million or 10.1% y\/y. The value of additions approved has\nbeen contracting for the past five years, with a decline of 10.1% recorded in\n2020 following the 16.3% contraction in 2019. 84 additions were approved in\nDecember, 81 fewer than in November and 74.9% lower in value terms at N$23.9\nmillion. During the year, 886 additions have been completed to a value of\nN$454.1 million, a drop of 30.5% y\/y in number and 34.1% y\/y in value terms.<\/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 640 approvals registered in 2020, 285 more than in 2019. In value\nterms, new residential units approved increased from N$640.8 million in 2019 to\nN$823.5 million in 2020. On a month-on-month basis, the number of new residential\napprovals decreased by 71.2% to 30 in December, while the value of approvals\ndeclined by 80.9% to N$25.3 million. 30 Residential units valued at N$16.8\nmillion were completed in December, bringing 2020\u2019s total number to 720, up\n133.8% y\/y, and value to N$1.04 billion, up 155.0% y\/y.<\/p>\n\n\n\n

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A total of 41 commercial and\nindustrial units were approved in 2020 compared to the 47 approved in 2019. In\nvalue terms, commercial and industrial approvals fell by N$244.5 million or\n42.5% for the year in 2020 from the N$575.6 million reported in 2019. In\nDecember, only 1 new commercial unit valued at N$26.2 million was approved, 1\nfewer than in November, but a 162.2% m\/m increase in terms of value. 1\nCommercial and industrial building was completed in December, bringing the\nyear\u2019s total to 12, a 58.6% decline from 2019. In value terms, N$39.7 million\nworth of commercial and industrial units were completed in 2020, representing a\ncontraction of 78.6% y\/y.<\/p>\n\n\n\n

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The number of\nbuilding plans approved in 2020 rose by 12.3% compared to 2019, but the\ncumulative number of plans remains down 32.9% from its peak in 2013. The cumulative\nvalue of approvals fell 7.0% y\/y to N$1.85 billion in 2020 and is down 29.0%\nfrom the peak in 2013 in nominal terms. Building plans approved is a leading\nindicator of economic activity in the country and the above data implies that\nthe Namibian economy is still showing signs of hardship. The significantly\nlower commercial building plan approvals in 2020 is another sign of this and\nindicate that most businesses are not planning on expanding their existing\noperations.<\/p>\n\n\n\n

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

A total of 115 building plans were approved by the City of Windhoek in December, which is a 57.6% m\/m decline from the 271 building plans approved in November. In value terms, approvals fell by 68.2% m\/m to register N$75.4 million worth of approvals in December, compared to N$237.2 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-26739","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\/26739","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=26739"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/26739\/revisions"}],"predecessor-version":[{"id":26746,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/26739\/revisions\/26746"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=26739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=26739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=26739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}