Friday, June 18, 2021
The region’s total number of constructions soared by 31.88 percent, from 985 constructions recorded in the 1st quarter of 2020 to 1,299 constructions in the same quarter in 2021. Increases in all types of constructions contributed to this growth.
The number of residential building constructions grew by 43.78 percent, from 635 constructions in the 1st quarter of 2020 to 913 constructions in the same period of 2021. Non - Residential buildings increased by 13.42 percent, posting 262 constructions in the 1st quarter of 2021 from 231 constructions in the 1st quarter of 2020. The combined number of additions/alterations and repair of buildings rose from 119 constructions in the 1st quarter of 2020 to 124 constructions during the quarter in review, an increment of 4.20 percent.
Residential buildings comprised 70.28 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 20.17 percent and 9.55 percent, respectively. The total value of constructions in the region during the 1st quarter of 2021 was estimated at PhP 2.15 billion. This figure is 4.02 percent higher than the PhP 2.07 billion total value of constructions in the same quarter of 2020. The aggregate value of additions/alterations and repair of existing structures significantly expanded by 46.92 percent, from PhP 139.78 million in the 1st quarter of 2020 to PhP 205.35 million during the quarter in review. An increase by 28.54 percent was also recorded in the total value of residential buildings. Its value grew to PhP 1.11 billion in the 1st quarter of 2021 from PhP 863.44 million in the same period of 2020. Total value of non-residential buildings, on the other hand, declined by 21.54 percent, from PhP 1.06 billion in the 1st quarter of 2020 to PhP 833.88 million in the 1st quarter of 2021.
Residential buildings’ value of construction comprised more than half or 51.64 percent of the total value of constructions in the region. The value of construction of non-residential buildings contributed 38.80 percent. Meanwhile, additions/ alterations and repairs accounted for only 9.56 percent of the region’s total value of constructions during the 1st quarter of 2021.
Average cost of construction per square meter was estimated at PhP 9,591 for residential buildings and PhP 8,552 for non – residential buildings. Data were based on the preliminary results of construction statistics from approved building permits.
Sgd. WILMA A. PERANTE