Executive summary
- The City of Windhoek approved a total of 264 building plans valued at N$ 150,821,972 in September 2022. See figure 1
- Out of 264 building plans approved, 169 were additions plans, 62 were house plans, 21 were wall plans, 6 were commercial plans, and 6 were pool plans
- The number of building plans approved increased by 8% in relation to the previous month. See Figure 2
- During the month under review, a total number of 88 buildings were completed for Windhoek at the value of N$ 107,571,936
- The total buildings completed increased by 3.5% when compared to the buildings completed in August 2022
Analysis
- On an annual basis, the number of building plans approved for Windhoek increased by 79.6%
- Total building plans approved and completed increased for September 2022 amidst rising interest rates and commodity prices
- For the month under review, the highest number of building plans approved were from Windhoek suburbs with a total of 59 plans (32 addition plans, 18 house plans, 4 commercial plans, 4 wall plans, and 1 pool plan) valued at N$ 43,819,137
- Klein Windhoek had the second-highest number of building plans approved with a total of 29 plans valued at N$ 8,685,000
Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (September 2021- September 2022)
Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (September 2021- September 2022)
Outlook
- The poor economic performance of the construction sector reflected in the second quarter of 2022 indicates that construction activities are under pressure. This can be attributed to a decrease in real government expenditure for the sector
- We project the construction sector to remain under pressure in the short to medium term.