Building plan approvals drop
Value declines
Completed building projects in the City of Windhoek (CoW) rose to 56 in October 2023 from 49 in the previous month.
In October 2023, Windhoek and Swakopmund combined saw 268 building plans approved, valued at N$333.2 million. This represents a 7.6% month-on-month decrease and a 19.0% year-on-year decline in approvals, according to Simonis Storm Completed projects for the month reached 180, making it the year's second-highest monthly total and signifying an 89.5% year-on-year increase from the same month last year.
In October 2023, the City of Windhoek approved 197 building plans, an increase of 22 from September, marking a monthly growth rate of 12.6% month-on-month. Yet, this was a 29.6% year-on-year decrease compared to October 2022. The total value of these approvals was N$303.5 million, down from N$400.7 million in September 2023. A breakdown of the 197 approved plans for October 2023 reveals that 152 plans pertain to additions, five are commercial building plans, 22 are designated for new residential properties, 17 are for walls, and one is allocated for a pool, Simonis Storm said.
Between January to October 2023, a total of 1 804 building plans received approval, collectively valued at N$1.6 billion. In contrast to the corresponding timeframe in the previous year, there has been a discernible reduction in the number of approved plans, decreasing from 2 306 plans with a total value of N$2.0 billion.
Completion
Completed building projects in the City of Windhoek (CoW) rose to 56 in October 2023 from 49 in the previous month, marking the fourth-highest count for the year. The total value of these projects reached N$43.5 million. Additionally, the CoW received 171 project submissions in October 2023, the lowest since January 2023, indicating a potential slowdown in new project initiation, Simonis Storm added.
The Swakopmund municipality granted approval for 71 building plans, signifying a notable decrease from the 115 approvals reported in September 2023, reflecting a substantial contraction of 38.3% month-on-month.
However, in a year-over-year comparison, there was an increase from the 51 approvals recorded in the corresponding period, demonstrating a growth of 39.2% year-on-year. The approved building plans in October 2023 achieved a combined value of N$29.7 million. This total comprises 69 new residential plans valued at N$29.01 million, one institutional plan and one commercial building plan.
Conversely, a total of 124 completed projects were reported in October 2023, marking the second-highest count above 100 for the year, following the 143 recorded in July 2023.
The total value of these completed projects amounted to N$32.8 million. The Swakopmund Municipality also disclosed the following building fees, including N$86 830.81 in building application fees, N$28 180 in building compliance fees, and N$52 974.97 in building fines issued, Simonis Storm said.