{"id":27752,"date":"2021-04-20T09:39:32","date_gmt":"2021-04-20T07:39:32","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=27752"},"modified":"2021-04-20T09:39:34","modified_gmt":"2021-04-20T07:39:34","slug":"building-plans-march-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-march-2021\/","title":{"rendered":"Building Plans \u2013 March 2021"},"content":{"rendered":"\n
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The City of\nWindhoek approved a total of 228 building plans in March, representing an 3.2%\nm\/m increase from the 221 building plans approved in February. In monetary\nterms, the approvals were valued at N$158.1 million, a 3.6% m\/m increase, while\nbuildings with a value of N$94.3 million were completed during March, a 73.4%\nm\/m increase. Although the number of building approvals for 2021 are 15.4%\nhigher than the same period of 2020, the value of these approvals has fallen relatively\nsharply by 27.1% y\/y, from N$556.7 million in 2020 to N$406.0 million in 2021. Year-to-date,\nthe number of completed buildings rose to 296, a decrease of 13.5% y\/y. The\nvalue of these completions are down 25.4% y\/y from N$276.3 million in 2020 to\nN$206.3 million in 2021. On a twelve-month cumulative basis, 2,358 buildings\nwith the value of N$1.7 billion were approved, an increase of 15.9% in number,\nyet a decrease of 13.8% in value, similar to the previous 3 months.  <\/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,\nwith 63 percent. For the month of March, 143 additions to properties were\napproved with a value of N$64.2 million, 11 fewer than in March 2020. The value\nof the additions approved in March is 11.0% higher than those observed in March\n2020. 138 additions worth N$36.9 million were completed during the month.<\/p>\n\n\n\n

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New residential\nunits were the second largest contributor to the total number of building plans\napproved in March, but the largest contributor in value terms. 81 new units\nworth N$86.9 million were approved in March, representing a 728.4% increase\nfrom the N$10.5 million worth of approvals in March 2020. On a 12-month\ncumulative basis, residential units recorded a 71.1% y\/y increase in value. 68\nnew residential units worth N$52.0 million were completed during the month.<\/p>\n\n\n\n

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Four new commercial units, valued at\nN$7.0 million, were approved in March. This compares to 5 units valued at N$89.1\nmillion approved in March 2020. Year-to-date, there have been eight commercial\nbuilding approvals valued at N$14.5 million, which translates to a 15.4%\nincrease in number terms and a 27.1% decrease in value terms compared to the\nsame period last year. On a rolling 12-month perspective, the number of\ncommercial and industrial approvals have slowed to 25 units worth N$98.7\nmillion as at March, compared to the 63 approved units worth N$730.2 million\nover the corresponding period a year ago. Three commercial and industrial units\nworth N$5.5 million were completed in March.<\/p>\n\n\n\n

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The 12-month\ncumulative number of building plans approved increased by 15.9% y\/y in March. A\ntotal of 2,358 building plans to the value of N$1.70 billion were approved over\nthe last 12 months which represents a decline in value of 13.8% y\/y. Additions\nto properties have made up 64.9% of the cumulative number of approvals, and 40.3%\nof the total value of approvals. Completed building plans, increased by 5.1% y\/y\nin value terms to N$1.47 billion on a 12-month cumulative basis in March. Although\n12-month cumulative value of approvals fell in March, residential building\nplans seem to have started gaining momentum, recording 10 consecutive months of\nyear-on-year increases in the number of residential approvals, in which 7 of\nthe 10 months recorded increases in value terms. In contrast, the commercial\nsector reflects Namibia\u2019s uncertain business outlook, with only 8 commercial\nand industrial building approvals year-to-date. Furthermore, when factoring out\ncommercial and industrial building approvals, the 12-month cumulative value of\napprovals rose by 28.8% y\/y in March. On the one hand, this reflects the relatively\nstrong recent growth witnessed in the residential plans approved, on the other\nhand, it raises concern about the country\u2019s commercial sector, which made up\n38.5% of the value of total approvals at the peak of the construction industry,\nin September 2013, compared to only 4.4% in March 2021. <\/p>\n\n\n\n

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

The City of Windhoek approved a total of 228 building plans in March, representing an 3.2% m\/m increase from the 221 building plans approved in February. In monetary terms, the approvals were valued at N$158.1 million, a 3.6% m\/m increase, while buildings with a value of N$94.3 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-27752","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\/27752","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=27752"}],"version-history":[{"count":2,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27752\/revisions"}],"predecessor-version":[{"id":27760,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/27752\/revisions\/27760"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=27752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=27752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=27752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}