Thursday, April 15, 2021
The region’s total number of constructions declined by 7.5 percent, from 965 constructions recorded in the 4th quarter of 2019 to 893 constructions in the same quarter in 2020.
The combined number of additions/alterations and repairs of existing structures, dropped by 50.0 percent, from 174 constructions in the 4th quarter of 2019 to 87 constructions in the same period of 2020. Residential buildings decreased by 4.7 percent, posting 552 constructions in the 4th quarter of 2020 from 579 constructions in the 4th quarter of 2019. On the other hand, an increase of 19.8 percent was noted in the number of non-residential buildings, from 212 constructions in the 4th quarter of 2019 to 254 constructions during the quarter in review.
Residential buildings comprised 61.8 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 28.4 percent and 9.7 percent, respectively.
The total value of constructions in the region during the 4th quarter of 2020 was estimated at PhP 3.1 billion. This figure is 77.1 percent higher than the PhP 1.8 billion total value of constructions in the same quarter of 2019.
The total value of construction of non-residential buildings increased drastically by almost three-folds (162.7 percent), from PhP 809.8 million in the 4th quarter of 2019 to PhP 2.1 billion during the quarter in review. A significant increase by 52.2 percent was also recorded in the aggregate value of additions/alterations and repair of existing structures. Its value grew to PhP 279.3 million in the 4th quarter of 2020 from PhP 183.6 million in the same period of 2019. Total value of residential buildings, on the other hand, went down by 6.0 percent, from PhP 779.9 million in the 4th quarter
of 2019 to PhP 733.1 million in the 4th quarter of 2020.
Non-residential buildings’ value of construction comprised almost two-thirds or 67.8 percent of the total value of constructions in the region. The value of construction of residential buildings contributed 23.3 percent. Meanwhile, additions/ alterations and repairs accounted for only 8.9 percent of the region’s total value of constructions during the 4th quarter of 2020.
Average cost per square meter was estimated at PhP 9,449 for residential buildings and PhP 8,650 for non – residential buildings.
Data were based on the preliminary results of construction statistics from approved building permits.
Sgd. WILMA A. PERANTE