Lacklustre monthly growth in building plan approvals – economists

Simonis Storm Securities says Windhoek has observed an increase of 2,6% in approved building plans for March.

This was revealed in the analysts’ latest report on the construction sector.

The number of approved plans for March slightly rose from 192 to 197, compared to February this year.

Swakopmund saw a monthly spike of 14%, with approvals increasing from 50 to 57 during the same period.

“However, on an annual basis, Windhoek saw a slight 1% year-on-year increase in approvals, while Swakopmund experienced a -12,3% year-on-year contraction, dropping from 65 in March 2023 to 57 approvals in March 2024,” the analysts say.

“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, compared to 458 in the same period of 2023,” they say.

The firm says Swakopmund experienced a decline in approved building plans during the first quarter of 2024, with 132 approvals compared to 149 in the same period last year.

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