SLIGHT UPTICK: Five more building plans were approved in Windhoek on a month-on-month basis between February and March. Photo: File
SLIGHT UPTICK: Five more building plans were approved in Windhoek on a month-on-month basis between February and March. Photo: File

Swakopmund sees decline in building-plan approvals

Windhoek reports slight uptick
Swakopmund has registered fewer building plans on a year-on-year basis.
Ogone Tlhage
Windhoek reported a slight uptick in building plans registered for March, witnessing a 2.6% increase on a month-on-month (m-o-m) basis, building statistics show - rising from 192 to 197 approvals compared to February.

“Conversely, Swakopmund saw 14% m-o-m increase, with approvals climbing from 50 to 57 during the same period. However, on an annual basis, Windhoek saw a slight 1% year-on-year (y-o-y) increase in approvals, while Swakopmund experienced a -12.3% y-o-y contraction - dropping from 65 in March 2023 to 57 approvals March 2024,” Simonis Storm said.

Quarterly, Windhoek observed an increase in approved plans during the first quarter of 2024, with 465 approvals totalling a value of N$539.8 million as compared to 458 in the same period of 2023.

“Conversely, Swakopmund experienced a decline in approved building plans during the first quarter of 2024, with 132 approvals compared to 149 in the first quarter of 2023,” Simonis Storm said.



Residential segment

According to the firm, most of the approved building plans in both Windhoek and Swakopmund predominantly focused on the residential segment of the market. “In Windhoek, 76% of approved plans were for additions to existing buildings, amounting to 150; 16% for new houses amounting to 32, and 6% for walls. Only 1% each was allocated to commercial building plans and pools,” it said.

In Windhoek, Klein Windhoek, Katutura, Khomasdal and Goreangab showed the highest concentration in terms of approved projects, Simonis Storm said.

“In Swakopmund, 53 new residential developments were approved, constituting 93% of the total, while the remaining 7% comprised approvals for new commercial institutions."



Slowdown

Year-to-date, N$126 million in new projects were approved, it found.

“Year-to-date, only 93 building projects have been completed in Windhoek, totalling N$126 million in value. This reflects a significant slowdown in building plan completions compared to the same period in 2023, during which 198 new projects were completed between January and the end of March.

“Despite the lower number of completed projects in 2024, their collective value is higher. Similarly, in Swakopmund, only 64 building projects have been completed year-to-date, with a total value of N$50.5 million. This contrasts with the 110 projects completed during the same period in 2023, amounting to a total value of N$78 million,” it added.

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Namibian Sun 2024-05-27

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 353.65/OZ UP +0.70% | Copper US$ 4.79/lb UP +1.22% | Zinc US$ 3 077.30/T UP 0.19% | Brent Crude Oil US$ 83.28/BBP UP +1.15% | Platinum US$ 1 053.93/OZ UP +2.31% Sport results: LaLiga: Sevilla 1 vs 2 Barcelona | Celta Vigo 2 vs 2 Valencia | Las Palmas 1 vs 1 Deportivo Alaves | Getafe 1 vs 2 Mallorca | Real Madrid 0 vs 0 Real Betis | Almería 6 vs 1 Cadiz | Rayo Vallecano 0 vs 1 Athletic Club | Real Sociedad 0 vs 2 Atletico Madrid | Osasuna 1 vs 1 Villarreal | Girona 7 vs 0 Granada SerieA: SS Lazio 1 vs 1 Sassuolo | Hellas Verona 2 vs 2 Inter Milan | Empoli 2 vs 1 AS Roma | Frosinone 0 vs 1 Udinese | Atalanta 3 vs 0 Torino | Napoli 0 vs 0 Lecce | AC Milan 3 vs 3 Salernitana | Juventus 2 vs 0 Monza | Genoa 2 vs 0 Bologna European Championships Qualifying: Leeds United 0 vs 1 Southampton FA Cup: Manchester City 1 vs 2 Manchester United English Championship: Leeds United 0 vs 1 Southampton Weather: Katima Mulilo: 11° | 30° Rundu: 11° | 30° Eenhana: 13° | 31° Oshakati: 14° | 30° Ruacana: 15° | 31° Tsumeb: 14° | 28° Otjiwarongo: 12° | 27° Omaruru: 14° | 29° Windhoek: 11° | 24° Gobabis: 12° | 25° Henties Bay: 17° | 25° Wind speed: 47km/h, Wind direction: NE, Low tide: 11:38, High tide: 05:37, Low Tide: 00:10, High tide: 18:15 Swakopmund: 16° | 18° Wind speed: 28km/h, Wind direction: NE, Low tide: 11:36, High tide: 05:35, Low Tide: 00:08, High tide: 18:13 Walvis Bay: 16° | 23° Wind speed: 34km/h, Wind direction: NE, Low tide: 11:36, High tide: 05:34, Low Tide: 00:08, High tide: 18:12 Rehoboth: 13° | 26° Mariental: 14° | 28° Keetmanshoop: 15° | 28° Aranos: 14° | 28° Lüderitz: 17° | 33° Ariamsvlei: 15° | 29° Oranjemund: 19° | 31° Luanda: 23° | 27° Gaborone: 11° | 24° Lubumbashi: 10° | 26° Mbabane: 10° | 23° Maseru: 6° | 21° Antananarivo: 9° | 21° Lilongwe: 11° | 26° Maputo: 17° | 27° Windhoek: 11° | 24° Cape Town: 14° | 24° Durban: 14° | 23° Johannesburg: 13° | 20° Dar es Salaam: 22° | 29° Lusaka: 14° | 24° Harare: 10° | 24° Economic Indicators: Currency: GBP to NAD 23.39 | EUR to NAD 19.92 | CNY to NAD 2.53 | USD to NAD 18.35 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.68 | ZWL to NAD 0.04 | BRL to NAD 3.56 | RUB to NAD 0.21 | INR to NAD 0.22 | USD to DZD 134.3 | USD to AOA 851.84 | USD to BWP 13.58 | USD to EGP 47.12 | USD to KES 132.48 | USD to NGN 1474 | USD to ZAR 18.35 | USD to ZMW 26.81 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79150.84 Up +0.25% | Namibian Stock Exchange (NSX) Overall Index 1748.47 Down -0.71% | Casablanca Stock Exchange (CSE) MASI 13370.7 Down -0.04% | Egyptian Exchange (EGX) 30 Index 27205.14 Down -0.08% | Botswana Stock Exchange (BSE) DCI 9141.35 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 353.65/OZ UP +0.70% | Copper US$ 4.79/lb UP +1.22% | Zinc US$ 3 077.30/T UP 0.19% | Brent Crude Oil US$ 83.28/BBP UP +1.15% | Platinum US$ 1 053.93/OZ UP +2.31%