{"id":27504,"date":"2021-03-31T12:04:29","date_gmt":"2021-03-31T10:04:29","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=27504"},"modified":"2021-03-31T12:04:30","modified_gmt":"2021-03-31T10:04:30","slug":"building-plans-february-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-february-2021\/","title":{"rendered":"Building Plans \u2013 February 2021"},"content":{"rendered":"\n
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The City of\nWindhoek approved a total of 221 building plans in February, representing an 81.1%\nm\/m increase from the 122 building plans approved in January. In monetary\nterms, the approvals were valued at N$163.9 million, a 95.1% m\/m increase,\nwhile buildings with a value of N$54.4 million were completed during February,\na 5.5% m\/m decrease. Although the number of building approvals for 2021 are\n5.2% higher than the same period of 2020, the value of these approvals has\nfallen sharply by 40.1% y\/y, from N$414.2 million in 2020 to N$248 million in\n2021. In contrast, the number of completed buildings increased by 29.9% y\/y year-to-date\nto 87, while the value of these completions rose by 93.3% y\/y from N$57.9\nmillion in 2020 to N$112 million in 2021. On a twelve-month cumulative basis,\n2,299 buildings with the value of N$1.69 billion were approved, an increase of\n13.6% in number, yet a decrease of 14% in value, similar to the previous 2\nmonths.  <\/p>\n\n\n\n

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In terms of number of approvals,\nadditions to properties once again made up the largest portion of approvals.\nFor the month of February, 131 additions to properties were approved with a\nvalue of N$70.6 million, 33 fewer than in February 2020. The value of the\nadditions approved in February is 27.1% lower than those observed in February\n2020. 11 additions worth N$4.61 million were completed during the month.<\/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 in February, but the largest contributor in value terms. 87 new units\nworth N$92.8 million were approved in February, representing a 14.5% decrease\nfrom the N$108.6 million worth of approvals in February 2020. On a 12-month\ncumulative basis, residential units recorded a 50.8% y\/y increase in value. 42\nnew residential units worth N$49.8 million were completed during the month.<\/p>\n\n\n\n

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Three new commercial units, valued at N$505,000,\nwere approved in February. This compares to 13 units valued at N$21.92 million\napproved in February 2020. Year-to-date, there have been 4 commercial building\napprovals valued at N$7.5 million, which translates to a 5.2% increase in\nnumber terms and a 40.1% decrease in value terms compared to the same period\nlast year. On a rolling 12-month perspective, the number of commercial and\nindustrial approvals have slowed to 26 units worth N$180.8 million as at February,\ncompared to the 61 approved units worth N$647.3 million over the corresponding\nperiod a year ago. No commercial and industrial units were completed in February.<\/p>\n\n\n\n

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The 12-month\ncumulative number of building plans approved increased by 13.6% y\/y in\nFebruary. A total of 2,299 building plans to the value of N$1.69 billion were\napproved over the last 12 months which represents a decline in value of 14.0%\ny\/y. Additions to properties have made up 67% of the cumulative number of\napprovals, but only 39.4% of the total value of approvals. Completed building\nplans, a lagging indicator, looks positive, increasing by 27% y\/y in value\nterms to N$1.59 billion on a 12-month cumulative basis in February. Approved\nbuilding plans, a leading indicator has consistently ticked up in number terms since\nAugust 2020. Although the value of these approvals fell by 14.0% y\/y on a\n12-month cumulative basis, the value of residential building approvals and\nadditions to properties rose by 14.6%. The overall decline in value of\napprovals was thus mainly due to a large contraction in commercial building\nplan approvals, which has consistently declined in value terms on a rolling\n12-month basis since September last year. Overall, Namibia\u2019s housing market\ndisplays positive trends in both the 12-month cumulative value of plans\ncompleted as well as plans approved. The decline in commercial building plans\napprovals and completions is however concerning and reflects Namibia\u2019s\nuncertain business outlook.<\/p>\n\n\n\n

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

The City of Windhoek approved a total of 221 building plans in February, representing an 81.1% m\/m increase from the 122 building plans approved in January. In monetary terms, the approvals were valued at N$163.9 million, a 95.1% m\/m increase, while buildings with a value of N$54.4 million were completed \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-27504","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\/27504","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=27504"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27504\/revisions"}],"predecessor-version":[{"id":27511,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27504\/revisions\/27511"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=27504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=27504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=27504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}