The City of Windhoek approved 271 building plans in October, an 18.9% increase from the 228 approved in September.
The total value of approvals increased by 40.2% to N$221.7 million. Year-to-date there have been 2,090 approvals, valued at N$1.63 billion.
This year-to-date figure is only 5.8% higher in value terms than at the same time last year.
With only two months left in the year, it is likely that the value of building plans approved in 2021 will be similar to that of 2020, according to IJG.
"On a 12-month cumulative basis, the number of approvals rose by 13.9% to 2,476 while the value of these approvals rose by 6.1% to N$1.94 billion. 86 construction projects were completed in October at a value of N$58.4 million. Year-on-year this equates to a 32.2% increase in number and 6.54% increase in value," IJG noted.
IJG added given that September saw yearly highs in both the number and value of projects completed the month-on-month changes incompletions come in at a somewhat distorted 63.2% decrease in number and 51.4% decrease in value.
On a 12-month cumulative basis, the value of completed projects is down 55.7%.