{"id":32457,"date":"2022-07-21T09:40:48","date_gmt":"2022-07-21T07:40:48","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=32457"},"modified":"2022-07-21T09:40:50","modified_gmt":"2022-07-21T07:40:50","slug":"building-plans-june-2022","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/building-plans-june-2022\/","title":{"rendered":"Building Plans \u2013 June 2022"},"content":{"rendered":"\n
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The City of\nWindhoek approved a total of 227 building plans in June, representing a 55.5%\nm\/m increase from the 146 building plans approved in May. In value terms, the\napprovals were valued at N$398.2 million, a 237.2% m\/m increase from the N$118.1\nmillion approved in May. Year-to-date 1,139 building plans were approved worth\nN$1.03 billion, a 1.1% y\/y increase in the number of plans approved, and a 10%\ny\/y increase in value terms. On a twelve-month cumulative basis, 2,463\nbuildings with a value of N$2.05 billion were approved, a 2.8% decrease in the number\nof plans approved but a 4.4% increase in value terms over the prior 12-month\nperiod. 73 building plans worth N$43.8 million were completed during the month.<\/p>\n\n\n\n

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Additions to properties once again made up the largest portion of the building plans approved both in terms of the number and the value of plans approved. For the month of June, 153 additions to properties were approved valued at N$328.4 million, the largest single month approval in value terms ever recorded. The value of the additions approved is 384.5% higher than last month and 835.1% higher than during the same month last year. It is however worth pointing out that the high value in additions recorded in June stems from a single property. If excluded, the value of additions in June amounts to N$48.2 million, representing a 29% m\/m decline from the N$67.8 million worth of additions approved in May and a 37% increase compared to June last year. 24 Additions worth N$7.07 million were completed during June, a 19.6% m\/m increase in terms of the value of additions completed. <\/p>\n\n\n\n

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New residential\nunits were the second largest contributor to the number and value of building\nplans approved with 69 approvals registered in June compared to 30 in May. In\nvalue terms N$55.0 million worth of residential units were approved in June, a\n17.1% m\/m increase. On a year-on-year basis, the value of approvals is however 28.8%\nlower than registered in June last year. On a 12-month cumulative basis, the\nnumber of residential units approved decreased by 13% y\/y to 790. Further\ndeclines in these numbers are expected given the current inflationary\nenvironment and the resultant rise in building costs which makes building new\nresidential properties less affordable when compared to existing properties in\nthe market. 47 New residential units worth N$31.8 million were completed during\nJune, a 28.4% m\/m increase in terms of the value of the residential units\ncompleted.<\/p>\n\n\n\n

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5 New commercial units valued at N$14.8\nmillion were approved in June, compared to 2 units worth N$3.35 million\napproved in May and 3 units worth N$16.0 million approved in June 2021.\nYear-to-date there have been 17 commercial building approvals valued at N$57.3\nmillion, which translates to a 10.5% y\/y decrease in the number of plans\napproved and a 14.6% y\/y decrease in value terms. On a rolling 12-month\nperspective, the number of commercial and industrial approvals remained steady\nat 33 units worth N$161.6 million, compared to the 32 units approved worth N$146.1\nmillion over the corresponding period a year ago. 2 Commercial and industrial\nunits worth N$4.9 million were completed in June.<\/p>\n\n\n\n

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Approved\nbuilding plans increased by 4.4% y\/y in value terms to N$2.05 billion on a\n12-month cumulative basis. The\nimprovement in the cumulative value of building plans observed in June is however\nmainly due to a single addition worth over N$280 million as mentioned earlier –\nit is unlikely that the value of approvals seen in June will be sustained in\nthe foreseeable months. Therefore, tapering in the 12-month cumulative value of\nbuilding plan approvals is expected over the ensuing months. Building\nplans completed continue to trend downward in both nominal and\ninflation-adjusted terms as illustrated below. Completed building plans\ndecreased by 29.2% y\/y in value terms to N$984.9 million on a 12-month\ncumulative basis. Given that building plan approvals is a leading indicator of\neconomic activity in the country, the data above, bar the single significant addition\nmentioned, implies that Namibian\u2019s economy is still enduring tough times.<\/p>\n\n\n\n

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The City of Windhoek approved a total of 227 building plans in June, representing a 55.5% m\/m increase from the 146 building plans approved in May. In value terms, the approvals were valued at N$398.2 million, a 237.2% m\/m increase from the N$118.1 million approved in May. Year-to-date 1,139 building \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-32457","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\/32457","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=32457"}],"version-history":[{"count":4,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/32457\/revisions"}],"predecessor-version":[{"id":32470,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/32457\/revisions\/32470"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=32457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=32457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=32457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}