{"id":29379,"date":"2021-09-21T14:43:29","date_gmt":"2021-09-21T12:43:29","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=29379"},"modified":"2021-09-21T14:43:32","modified_gmt":"2021-09-21T12:43:32","slug":"building-plans-august-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-august-2021\/","title":{"rendered":"Building Plans \u2013 August 2021"},"content":{"rendered":"\n
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The City of\nWindhoek approved 253 building plans in August, a 19.9% m\/m increase from the\n211 approved in July. The value of approvals increased by 11.1% m\/m to N$161.7\nmillion. Year-to-date there have been 1,591 approvals, valued at N$1.25 billion,\n15.8% higher in value terms and 17.3% higher in number terms than at the same\ntime last year. On a 12-month cumulative basis, the number of building plan\napprovals rose by 22.8% y\/y to 2,517 as the value of approvals rose by 4.5% y\/y\nto N$2.02 billion. In August, 131 construction projects were completed at a\nvalue of N$68.4 billion. This is a marked increase from the number of\ncompletions in July when only 36 projects were completed, the second-lowest figure\nfor the year.  Year-to-date, 969 plans,\nvalued at N$517.9 million have been completed, a 60.0% contraction in value\nterms compared to the same period a year ago. <\/p>\n\n\n\n

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Additions to properties made up 65% of\ntotal approvals in August. 165 additions were approved at a value of N$57.1\nmillion, a 20.4% m\/m increase in number, but a 12.0% m\/m decrease in value from\nthe N$64.9 worth of addition approvals in July. Year-to-date, 983 additions\nhave been approved at a value of N$466.0 million, a 3.4% decrease in number,\nbut a 2.7% increase in value terms. In August, 78 additions were completed at a\nvalue of N$17.18 million. Although the number and value of additions completed\nper month trend to vary widely – August\u2019s figures sit close to the year-to-date\naverages. <\/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 with 83 approvals registered in August. In terms of value, the N$84.1\nmillion worth of residential units approved in August represents a 4.7% m\/m\nincrease. Year-to-date 583 units worth N$694.9 million have been approved,\ndouble the value of residential approvals achieved this time last year. On a\n12-month cumulative basis, the number of residential units approved increased\nby 123.1% y\/y and 98.0% in value terms. 53 new residential units worth N$51.2\nmillion were completed in August. This represents a year-to-date decrease in\nvalue of 59.8% compared to this time last August. On a 12-month cumulative\nbasis, the number of residential units completed stands is 526 at a value of\nN$531.8 million. As such, the 12-month cumulative value of completed\nresidential units decreased, by 45.1% y\/y, for the first time in over a year.  <\/p>\n\n\n\n

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In August five commercial units,\nvalued at N$20.4 million, were approved. Year-to-date, 25 commercial buildings\nat a value of N$87.8 million have been approved.  No commercial building projects have been\ncompleted since March. This is the longest run of zero completions in the commercial\nconstruction sector since independence. Commercial projects continue to be\napproved; they are not being completed. <\/p>\n\n\n\n

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On a 12-month\ncumulative basis, the number of buildings completed fell by 42.9% y\/y,\ntranslating to a 57.4% y\/y decrease in value. There is a simple, mechanical\nexplanation for this. Namibia\u2019s first hard lockdown of 2020 put a pause on all\nbuilding projects. In April of that year no construction projects; be that\nadditions, residential units or commercial projects were completed. This is\nlikely to have created a glut of unfinished construction projects. As\nconstruction sites reopened, the following five months saw a massive spike in the\nvalue of completed projects. For example, in August of 2020 the value of\ncompleted construction projects was N$395.0 million \u2013 the most ever added in\none month. This August\u2019s figure for the 12-month cumulative value of completed\nconstruction projects is the first this year to not<\/em> consider the large,\ndistorted, values of completed projects from the May 2020 \u2013 September 2020\npost-lockdown period. The 12-month cumulative value of plans completed now,\ndespite the large decrease recorded this August, gives a more accurate picture\nof the short-term trends and current conditions in the Namibian construction\nindustry. <\/p>\n\n\n\n

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The City of Windhoek approved 253 building plans in August, a 19.9% m\/m increase from the 211 approved in July. The value of approvals increased by 11.1% m\/m to N$161.7 million. Year-to-date there have been 1,591 approvals, valued at N$1.25 billion, 15.8% higher in value terms and 17.3% higher 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-29379","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\/29379","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=29379"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/29379\/revisions"}],"predecessor-version":[{"id":29386,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/29379\/revisions\/29386"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=29379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=29379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=29379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}