Executive summary
- In August 2023, the City of Windhoek approved a total of 203 building plans, with a combined valuation of N$ 68,651,804 (as illustrated in Figure 1).
- Among these approvals, there were 151 addition plans, 26 house plans, 20 wall plans, 4 commercial plans, and 2 pool plans.
- Compared to July 2023 (as depicted in Figure 2), the total number of approved building plans experienced a significant downturn of 2.9%. This indicates a negative trend in construction activity within the city.
- During the review month, 75 buildings were completed in Windhoek, with an aggregated value of N$ 120,481,328.
- The overall number of completed buildings exhibited a remarkable improvement of 56% when contrasted with those completed in July 2023.
Analysis
- The annual sum of approved building plans for Windhoek experienced a notable decline of 16.8%. This reduction may likely be attributed to a continued decrease in significant construction projects within the economy.
- The highest concentration of approved building plans for the month was observed within the Windhoek suburbs, totaling 46 plans. This compilation comprised 36 addition plans, 5 house plans, 1 commercial plan, 3 wall plans, and 1 pool plan with a cumulative value of N$ 20,612,750.
- Khomasdal emerged as the second-highest locality in terms of approved building plans, boasting a total of 26 plans valued at N$ 9,076,000.
- Additionally, Klein Windhoek secured the third-highest position with 18 approved building plans, collectively valued at N$ 6,394,821.
Outlook
- We anticipate that construction activities in Windhoek will maintain steady growth in the short to medium term. Despite recent fluctuations, a consistent upward trajectory is anticipated. Continued focus on urban development and ongoing projects suggests a resilient construction sector in the coming months.
Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (August 2022 – August 2023)
Source: CoW & HEI RESEARCH
Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (August 2022 – August 2023)
Source: CoW & HEI RESEARCH