Wednesday, June 15, 2022
The region’s total number of constructions increased by 5.6 percent, from 1,081 constructions recorded in the 4th quarter of 2020 to 1,142 constructions in the same quarter in 2021.
The number of residential building constructions went up by 8.9 percent, from 686 constructions in the 4th quarter of 2020 to 747 constructions in the same period of 2021. Non - Residential buildings inched up by 6.0 percent, posting 281 constructions in the 4th quarter of 2021 from 265 constructions in the 4th quarter of 2020. On the other hand, the combined number of additions/alterations and repair of buildings declined from 130 constructions in the 4th quarter of 2020 to 114 constructions during the quarter in review, a decrease of -12.3 percent.
The number of residential buildings comprised almost two-thirds or 65.4 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 24.6 percent and 10.0 percent, respectively.
The total value of constructions in the region during the 4th quarter of 2021 was estimated at PhP 2.1 billion. This figure is -37.4 percent lower than the PhP 3.3 billion total value of constructions in the same quarter of 2020. This decline was attributed to the -55.2 percent drop in the total value of non-residential buildings, from PhP 2.2 billion in the 4th quarter of 2020 to almost PhP 1.0 billion in the 4th quarter of 2021.
The -68.8 percent decrease in the aggregate value of additions/alterations and repairs of existing structures also contributed to the decline in the total value of constructions. Its value went down to PhP 0.1 billion in the 4th quarter of 2021 from PhP 0.3 billion in the 4th quarter of 2020. On the other hand, total value of residential buildings grew by 21.6 percent, from PhP 0.8 billion in the 4th quarter of 2020 to PhP 1.0 billion in the 4th quarter of 2021. This slightly mitigated the drop in the total value of constructions in the region.
Residential buildings’ value of construction comprised 48.2 percent of the total value of constructions in the region. The value of construction of non – residential buildings contributed 47.3 percent. Meanwhile, additions/ alterations and repairs accounted for only 4.5 percent of the region’s total value of constructions during the 4th quarter of 2021.
Average cost of construction per square meter was estimated at PhP 9,689 for residential buildings and PhP 9,909 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