Tuesday, December 3, 2019
The region’s total number of constructions in the 2nd quarter of 2019 reached 1,191. This reflected a decrease by 4.3 percent from the 1,244 constructions recorded in the same quarter of 2018.
The total constructions in the region were comprised of residential buildings (59.8 percent), additions/ alterations and repairs (20.6 percent) and non – residential buildings (19.6 percent).
By type of construction, the combined number of additions/alterations and repairs of existing structures increased by 25.0 percent, posting 245 constructions in the 2nd quarter of 2019 from 196 constructions in the 2nd quarter of 2018. An increase of 14.1 percent was noted in the number of non-residential buildings, from 205 constructions in the 2nd quarter of 2018 to 234 constructions during the quarter in review. The number of residential building constructions, on the other hand, went down by 15.5 percent, from 843 constructions in the 2nd quarter of 2018 to 712 constructions in the same period of 2019
The total value of constructions in the region during the 2nd quarter of 2019 was estimated at P2.7 billion. This figure is 12.8 percent higher compared with the P2.4 billion total value of constructions in the same quarter of 2018.
By type of construction, total value of residential buildings increased by 14.5 percent, from P1.1 billion in the 2nd quarter of 2018 to P1.3 billion during the quarter in review. Aggregate value of non – residential buildings also increased to P1.3 billion in the 2nd quarter of 2019 from P1.1 billion in the same period of 2018, a roll up by 14.0 percent.
On the other hand, total value of additions/ alterations and repairs declined by 5.3 percent, from P185.2 million in the 2nd quarter of 2018 to P175.5 million in the 2nd quarter of 2019.
Residential buildings comprised the largest share or 47.6 percent of the total value of constructions in the region. Meanwhile, non-residential buildings contributed 45.9 percent, and additions/ alterations and repairs accounted for 6.4 percent of the region’s total value of constructions
Average cost per square meter was estimated at P8,854 for residential buildings and P9,363 for non – residential buildings. Data were based on the preliminary results of construction statistics from approved building permits.
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SGD. WILMA A. PERANTE