National

Building cost increases in Namibia: report


WINDHOEK, April 29 — Building cost in Namibia has increased by 3 percent since 2018 to date despite cement prices going down, a report said Monday.

The price of super bricks increased 3.1 percent in March 2019 compared with the same time last year. It is largely influenced by the price of cement, sand and transportation costs, according to a research report released by First Capital Namibia, a local financial service company.

Despite cement prices declined 10 percent in March, sand prices hugely increased by 46 percent, resulting in the price rise of bricks, the report said.

“Throughout 2019, we do not expect major price shock of bricks, as slow demand should be a limiting factor for producers to increase prices,” said the report.
The report also showed that construction prices in Namibia’s metropolitan areas were higher than in satellite towns. – XINHUA