Staff Writer
The City of Windhoek has given the green light to 1,450 building plans in 2023, with a combined value of N$1.04 billion.
This represents a 23.8% decrease in the number of approvals compared to the same period in the previous year and a 26.8% reduction in their overall value, as reported by economists at IJG.
Over the last 12 months, there has been a 20.6% drop in the number of approvals and a 30.1% decrease in value compared to the equivalent twelve-month period from a year ago.
In September, the City of Windhoek approved 160 building plans, which is 11 fewer than the 181 approved in August. However, the value rose by 94.9% on a month-on-month basis.
This increase in value translates to a rise from N$66.5 million in August to N$129.6 million in September. In addition, 49 building plans, worth N$75.7 million, were completed during the month.
Economic researchers at IJG noted, “The building plan approval data for September was broadly in line with the monthly figures that we have been seeing so far this year.
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