{"id":30250,"date":"2021-12-15T12:34:02","date_gmt":"2021-12-15T10:34:02","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=30250"},"modified":"2021-12-15T12:34:05","modified_gmt":"2021-12-15T10:34:05","slug":"building-plans-november-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-november-2021\/","title":{"rendered":"Building Plans \u2013 November 2021"},"content":{"rendered":"\n
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In November the\nCity of Windhoek approved 263 building plans, a 3.0% m\/m decrease from the 271\napproved in October. The total value of approvals decreased by 2.1% m\/m to\nN$216.9 million. On a 12-month cumulative basis, the number of approvals has\nrisen by 9.3% y\/y to 2,468 but the value of these approvals has declined by\n1.1% y\/y to N$1.92 billion. Year-to-date there have been 2,353 approvals valued\nat N$1.85 billion. 139 construction projects were completed in November at a\nvalue of N$99.9 million. In terms of value, this equates to a 147.1% y\/y\nincrease and a 71.0% m\/m increase. However, on a 12-month cumulative basis the\nvalue of completed projects is down 46.3% y\/y.  <\/p>\n\n\n\n

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185 additions to properties were\napproved at a value of N$107.9 million in November, making November the best\nmonth, in terms of value, for addition approvals in 2021. This represents a\n12.1% y\/y increase in number and 13.5% y\/y increase in value. Month-on-month\nthis translates to a 7.5% decrease in number but a 37.9% increase in value. 47\nadditions to properties were completed in November at a value of N$11.1\nmillion. The latter months of 2020 saw a particularly slow rate of construction\ncompletions, therefore the year-on-year change in the value of additions completed\nhas doubled (approximately 101.1% y\/y increase in value). On a year-to-date\nbasis, the number of additions to properties completed stands at 855, at a\nvalue of N$233.8 million. While the number of additions completed by this time last\nyear is similar (866 by November 2020) the value of those additions stood\nsignificantly higher, at N$444.8 million.   <\/p>\n\n\n\n

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75 residential\nunits were approved in November at a value of N$105.5 million, translating to an\n8.7% m\/m increase in number and a 29.6% m\/m increase in value. Year-to-date 808\nunits have been approved at a value of N$968.8 million. These numbers compare favourably\nto last November\u2019s year-to-date figures when only 610 residential units were\napproved at a value of N$798.2 million. Accordingly, on a 12-month cumulative\nbasis, the value of residential approvals increased by 9.3% y\/y and the number\nof approvals by 7.9% y\/y. 90 residential units were completed in November at a\nvalue of N$70.8 million, making November the best month for the number of\nresidential unit completions in 2021. On a 12-month cumulative basis the number\nof residential properties completed now stands at 596, with a collective value of\nN$540.6 million. Following the trend seen in completions of additions to\nproperties, the 12-month cumulative value figure for residential units\ncompleted has fallen by 46.3% y\/y.<\/p>\n\n\n\n

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In November three commercial units\nwith a combined value of N$3.5 million were approved. Year-to-date 34 commercial\nunits worth N$160.3 million have been approved. In terms of value, that\u2019s 47.4%\nlower than at the same time last year. Two commercial units were completed in\nNovember at a value of N$18.1 million. After six consecutive months with zero\ncompletions Windhoek has now seen back-to-back months with commercial\ncompletions, the first time that has happened in 2021. Encouragingly, this\nmeans that the year-to-date value of commercial construction projects completed\nis higher now than it was at the same time in 2020.<\/p>\n\n\n\n

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On a 12-month\ncumulative basis, the number of building plans completed fell by 8.3% y\/y and by\n46.3% y\/y in terms of value. Given the severity of the general economic\ncontraction in the past 18 months this is not surprising. The year-on-year\nchange of the 12-month cumulative value of plans completed is therefore likely to\nremain negative for several more months. <\/p>\n\n\n\n

As the year\ndraws to a close, we now have a sufficiently detailed picture of how well the\nconstruction industry faired in 2021. In a phrase, 2021 was not all that bad.\nThe year-to-date figure for total building plan approvals stands at N$1.85\nbillion, that\u2019s a 3.9% y\/y increase from the N$1.78 billion approved by last\nNovember. The success and rate with which these approvals are converted into\ncompletions will go a long way to determining the fortunes of the construction\nsector in 2022.  While the year-to-date value\nof total building completions remains well off 2020 levels, in the context of\nthe last five years the figure (N$796.5 million y-t-d completions by November\n2021) doesn\u2019t look out of place (5-year November average; N$913.8 million).   <\/p>\n\n\n\n

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

In November the City of Windhoek approved 263 building plans, a 3.0% m\/m decrease from the 271 approved in October. The total value of approvals decreased by 2.1% m\/m to N$216.9 million. On a 12-month cumulative basis, the number of approvals has risen by 9.3% y\/y to 2,468 but the \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-30250","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\/30250","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=30250"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30250\/revisions"}],"predecessor-version":[{"id":30257,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/30250\/revisions\/30257"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=30250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=30250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=30250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}