City of Windhoek’s approved building plans decrease in May
A total of 159 building plans were approved by the City of Windhoek in May 2019, 11 less than in April, showing that N$81.3 million worth of plans were approved in May as opposed to N$169 million in April 2019.
Additions to properties recorded the highest approval, as 116 additions have worth N$34.1 million have been approved. In April, additions to properties approved stood at 132 with a value of N$59.3 million.
In the last 12 months 2,198 building plans worth N$2.01 billion have been approved by the City, increasing by 14.7% y/y in terms of number of approvals and 19.4% y/y in terms of value.
The total value of plans approved is 22.9% down from the peak in March 2013. According to IJG Research, should the adjust the for inflation be adjusted, the value of plans approved is down over 42% from the peak in April 2013.
“While cumulative approvals have been increasing in number and value terms when compared to a year ago, construction activity in the Windhoek municipal area is very much subdued by historical standards,” IJG Research stated.