Executive summary
- The City of Windhoek approved a total of 177 building plans valued at N$ 73,208,438 in February 2023. See figure 1
- Out of 177 building plans approved, 127 were additions plans, 37 were house plans, 10 were wall plans, and 3 were commercial plans
- The number of building plans approved increased by 105% when compared to building plans approved in January 2023. See Figure 2
- During the month under review, a total number of 53 buildings were completed for Windhoek at the value of N$ 41,423,636
- Total buildings completed decreased by 20% when compared to the buildings completed in January 2023
Analysis
- On an annual basis, the number of building plans approved for Windhoek declined by 24%. This could be attributed to subdued construction activities influenced by high-interest rates and inflation
- For the month under review, the highest number of building plans approved were from Windhoek suburbs with a total of 31 plans (24 addition plans, 6 house plans, 1 commercial plan) valued at N$ 23,098,300
- Klein Windhoek had the second-highest number of building plans approved with a total of 21 plans valued at N$ 13,609,752
Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (February 2022- February 2023)
Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (February 2022- February 2023)
Outlook
- The construction sector picked up momentum for the month of February 2023 compared to December 2022 and January 2023. The construction activity for the country looks moderately promising going forward into 2023 as it pins hope on green hydrogen projects
- We anticipate modest growth in construction activities in the short to medium term