Windhoek’s approved building plans rise by 46.1% in June
The number of building plans approved rose by 46.1% m-o-m to 260 units compared to a decrease (-1.1%) reported in the prior month, according to the City of Windhoek.
On a 12 month accumulative basis, approved plans declined by 41.4% in June compared to a drop of 32.2% in the prior month.
According to the city fathers, the increase in building plans approved is a combination of additions (69%), housing (20%), walls (0.8%), while commercial and pools is about 0.2 %.
Buildings completed increased by 71.5% m-o-m in June 2018 and by a staggering 120.7% on a 12 month accumulated basis, but this was mainly due to completions of additions, rather than new structures. Of the 247 additions completed 225 are in the Pioneers Park area.
“On a positive note, the City of Windhoek construction of 300 houses in Rocky Crest will spur growth in buildings completed. However, due to time lags and servicing of land, we will only see the effect in the first quarter of 2019,” according to Indileni Nanghonga, Analyst at Simonis Storms Securities.