{"id":32141,"date":"2022-06-21T14:24:13","date_gmt":"2022-06-21T12:24:13","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=32141"},"modified":"2022-12-05T11:28:28","modified_gmt":"2022-12-05T09:28:28","slug":"building-plans-may-2022","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-may-2022\/","title":{"rendered":"Building Plans \u2013 May 2022"},"content":{"rendered":"\n
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A total of 146\nbuilding plans were approved by the City of Windhoek in May, representing a\n15.6% m\/m decrease from the 173 building plans approved in April. In value\nterms, the approvals were valued at N$118.1 million, an 11.4% m\/m increase from\nthe N$106.0 million approved in April. Year-to-date 912 building plans were approved\nworth N$637.1 million, a 9.5% y\/y decrease in the number of plans approved and a\n21.6% y\/y decrease in value terms. On a twelve-month cumulative basis, 2,355\nbuildings with a value of N$1.79 billion were approved, a 12.3% decrease in the\nnumber of plans approved and an 11.3% decrease in value terms over the prior\n12-month period. 43 building plans worth N$55.7 million were completed during\nthe month.<\/p>\n\n\n\n

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

In terms of both\nthe number and value of approvals, additions to properties once again made up\nthe largest portion of approvals. For the month of May, 114 additions to\nproperties were approved with a value of N$67.8 million, the same number of\napprovals recorded in April. The value of the additions approved is 7.7% higher\nthan last month and 22.4% higher than during the same month last year. 13\nAdditions worth N$5.9 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 number and value of building\nplans approved with 30 approvals registered in May, 28 fewer than in April. In\nvalue terms N$47.0 million worth of residential units were approved in May, a\n10.1% m\/m increase. On a year-on-year basis, the value of approvals is however 49.3%\nlower than registered in May 2021. On a 12-month cumulative basis, the number\nof residential units approved decreased by 17.3% y\/y to 772, the lowest since\nFebruary 2021. 29 New residential units worth N$24.8 million were completed in May.<\/p>\n\n\n\n

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

2 New commercial units valued at N$3.4\nmillion were approved in May, compared to 1 approval worth N$380,00 in April\nand 4 units worth N$25.0 million approved in May 2021. Year-to-date there have\nbeen 12 commercial building approvals valued at N$42.5 million, which\ntranslates to a 25.0% y\/y decrease in the number of plans approved and a 16.8%\ny\/y decrease in value terms. On a rolling 12-month perspective, the number of\ncommercial and industrial approvals remained steady at 33 units worth N$162.8\nmillion, compared to the 33 units approved worth N$135.3 million over the\ncorresponding period a year ago. Only 1 commercial and industrial unit worth\nN$25.0 million was completed in May.<\/p>\n\n\n\n

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

As illustrated\nin the figure above and below, the cumulative value of building plans approved and\ncompleted continues to trend downward in both nominal and inflation-adjusted\nterms. Completed building plans decreased by 34.4% y\/y in value terms to\nN$999.7 million on a 12-month cumulative basis. A total of 2,355 building plans\nto the value of N$1.79 billion were approved over the last 12 months which\nrepresents a decrease in value terms of 11.3% y\/y and a 12.3% y\/y decrease in\nthe number terms. Additions to properties continue to contribute the majority\nof the cumulative approvals at 65.8% in number terms. The 12-month cumulative\nnumber of commercial and industrial approvals remains in the single digit\nterritory which have been the case since June 2016, indicating a dearth of\ninvestment by enterprises. Building plans approved is a leading indicator of\neconomic activity in the country and the above data implies that the Namibian\neconomy is still showing signs of hardship.<\/p>\n\n\n\n

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

A total of 146 building plans were approved by the City of Windhoek in May, representing a 15.6% m\/m decrease from the 173 building plans approved in April. In value terms, the approvals were valued at N$118.1 million, an 11.4% m\/m increase from the N$106.0 million approved in April. Year-to-date \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-32141","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\/32141","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=32141"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/32141\/revisions"}],"predecessor-version":[{"id":32149,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/32141\/revisions\/32149"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=32141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=32141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=32141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}