Construction sector becoming less relevant

The nominal value of the building plans completed during April 2021 amounted to N$145.4 million compared to N$181.3 million recorded in the previous month.

22 June 2021 | Business

PHILLEPUS UUSIKU

The composite index of building plans completed (Windhoek, Swakopmund, Walvis Bay and Ongwediva) recorded a declined monthly growth rate of 19.8% in April 2021 when compared to a growth rate of 28.3% in March 2021.

According to the Namibia Statistics Agency (NSA), the nominal value of the building plans completed during April 2021 amounted to N$145.4 million compared to N$181.3 million recorded in the previous month. While, the value of building plans completed for April 2020 stood only at N$1.7 million.

The zero valuation of buildings plans completed observed for April 2020 were mainly attributed to the construction sector that was under total lockdown, therefore resulting in most of activities not being recorded and due to restrictions of Covid-19 regulations put in place to curb the pandemic, NSA said.

In Walvis Bay, the building plans completed index registered a monthly decline of 65.9% in April 2021, lower than a growth of 5.5% recorded in the preceding month.

The year-on-year performance showed a growth rate of 1 326.2%. The decline recorded month-on- month were mainly reflected in the nominal value for new living units, while the increase recorded year-on-year was attributed to new units of residential buildings completed.

The nominal value of building plans completed in Walvis Bay stood at N$24.5 million in April 2021 compared to N$71.8 million and N$ 1.7 million recorded for March 2021 and April 2020, respectively, NSA pointed out.

Windhoek

In Windhoek, the building plans completed index declined monthly by 0.6% compared to the growth of 76.7% recorded in the preceding month. The decline recorded month-on-month was mainly reflected in the nominal value of building plans completed for houses.

The nominal value of building plans completed in Windhoek for April 2021 amounted to N$95.6 million compared to N$96.1 million recorded for March 2021. There were no building plans completed in April 2020, NSA added.

In Swakopmund, the building plans completed index went up on a monthly basis by 73.0% in April 2021, better-off when compared to a reduction of 8.4% recorded in the preceding month. The increase recorded month on month were mainly reflected in the nominal value of the additions and alterations for residential building plans completed. The nominal value of building plans completed in Swakopmund stood at N$21.7 million in April 2021 compared to N$12.5 million recorded for March 2021. There was no valuation done on completed properties for the month of April 2020, NSA pointed out.

Furthermore, in Ongwediva, the building plans completed index registered an increase of 308.5% on a monthly basis, better-off when compared to a reduction of 82.9% recorded a month earlier. The increase recorded month-on-month was mainly reflected in the nominal value of additions and alterations for residential building plans completed. The nominal value of building plans completed was N$3.7 million in April. There was no approval of any building plans completed for the month of April 2020, NSA said.

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