Executive summary
- The City of Windhoek approved a total of 204 building plans valued at N$ 134,924,618 in November 2022. See figure 1
- Out of 204 building plans approved, 148 were additions plans, 38 were house plans, 13 were wall plans, and 5 were commercial plans
- The number of building plans approved declined by 27% in relation to the previous month. See Figure 2
- During the month under review, a total number of 89 buildings were completed for Windhoek at the value of N$ 52,651,886
- The total buildings completed increased by 36% when compared to the buildings completed in October 2022
Analysis
- On an annual basis, the number of building plans approved for Windhoek declined by 22%
- For the month under review, the highest number of building plans approved were from Windhoek suburbs with a total of 34 plans (25 addition plans, 6 house plans, 3 commercial plans) valued at N$ 28,728,200
- Katutura had the second-highest number of building plans approved with a total of 23 plans valued at N$ 4,339,906
Outlook
- The decline in the number of building plans approved for Windhoek could be ascribed to low consumer confidence to uptake credit for construction activities due to high-interest rates
- We anticipate the construction industry to remain subdued for December 2022 due to the closure of the majority of construction companies for the holiday.
Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (November 2021- November 2022)
Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (November 2021- November 2022)
