Reference Number:
SR-202308-0800-25
Release Date:
Thursday, August 31, 2023
The region’s total number of constructions increased by 4.2 percent, from 1,369 constructions recorded in the 1st quarter of 2022 to 1,427 constructions in the 1st quarter of 2023.
The number of non-residential building constructions grew by 25.5 percent, from 330 constructions in the 1st quarter of 2022 to 414 constructions in the 1st quarter of 2023. The number of residential buildings increased by 3.0 percent, posting 916 constructions in the 1st quarter of 2023 from 889 constructions in the 1st quarter of 2022. On the other hand, the combined number of additions/alterations and repair declined from 150 constructions in the 1st quarter of 2022 to 97 constructions during the quarter in review, a drop by -35.3 percent.
The number of residential buildings comprised almost two-thirds or 64.2 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 29.0 percent and 6.8 percent, respectively.
VALUE OF CONSTRUCTIONS
The total value of constructions in the region in the 1st quarter of 2023 was estimated at PhP 3.5 billion. This figure is 30.1 percent higher than the PhP 2.7 billion total value of constructions in the 1st quarter of 2022. This increase was attributed to the 55.6 percent growth in the total value of non-residential buildings, from PhP 1.2 billion in the 1st quarter of 2022 to PhP 1.8 billion in the 1st quarter of 2023.
The 45.5 percent and 5.1 percent growths in the aggregate value of additions/alterations and repairs of existing structures and total value of residential buildings also contributed to the increase in the total value of constructions. The aggregate value of additions/alterations and repairs of existing structures went up to PhP 0.24 billion in the 1st quarter of 2023 from PhP 0.16 billion in the 1st quarter of 2022. Meanwhile, the total value of residential buildings increased to PhP 1.4 billion in the 1st quarter of 2023 from PhP 1.3 billion in the 1st quarter of 2022.
Non-residential buildings’ value of construction comprised more than half or 53.3 percent of the total value of constructions in the region. The value of construction of residential buildings contributed 39.9 percent. Meanwhile, additions/ alterations and repairs accounted for only 6.8 percent of the region’s total value of constructions in the 1st quarter of 2023.
AVERAGE COST PER SQUARE METER OF RESIDENTIAL BUILDINGS
Average cost per square meter of residential buildings in the region increased by 22.8 percent in the 1st quarter of 2023. The estimated average cost went up to PhP 11,239 in the 1st quarter of 2023 from PhP 9,151 average cost in the same period of 2022.
Among the different types of residential buildings, duplex/quadruplex residential buildings registered the highest average cost per square meter at PhP 11,555. This figure is higher by 44.3 percent compared with its PhP 8,006 per square meter level during the 1st quarter of 2022.
The average cost per square meter of single residential building was recorded at PhP 11,379 in the 1st quarter of 2023, 14.8 percent higher from its PhP 9,910 per square meter level in the same period of 2022. Apartment/accessoria/other residential buildings posted the lowest average cost per square meter at PhP 10,216 in the 1st quarter of 2023. This registered an increase of 38.4 percent from its PhP 7,381 average cost per square meter in the 1st quarter of 2022.
AVERAGE COST PER SQUARE METER OF NON-RESIDENTIAL BUILDINGS
Average cost per square meter of non - residential buildings in the region in the 1st quarter of 2023 was estimated at PhP 11,889. This value was 19.7 percent higher compared with the PhP 9,930 average cost per square meter in the same period of 2022.
Among the different types of non – residential buildings, industrial buildings registered the highest average cost per square meter at PhP 20,201 in the 1st quarter of 2023. This is 9.3 percent higher compared with the PhP 18,479 average cost per square meter in the same quarter of 2022.
Average cost per square meter of institutional buildings was posted at PhP 17,173 in the 1st quarter of 2023. This figure is 37.7 percent higher than its PhP 12,476 level in the 1st quarter of 2022.
Commercial buildings’ average cost per square meter registered a 13.5 percent increase in the 1st quarter of 2023. It went up to PhP 9,147 during the reference period from PhP 8,057 in the 1st quarter of 2022.
Agricultural buildings, meanwhile, posted the lowest average cost per square meter during the quarter in review at PhP 5,275. This value registered a -8.8 percent decrease from its P 5,785 average cost per square meter in the 1st quarter of 2022.
Technical Notes
Scope and Coverage
Construction statistics presented in this special release are based on the approved building permits on new constructions and additions, alterations and repairs of existing residential and non-residential buildings, and other structures which are proposed to be constructed in the different cities/municipalities of the country.
Source of Information
Construction statistics are generated from approved building permits as well as from the demolition and fencing permits collected every month by PSA field personnel from the Offices of Local Building Officials (LBOs).
Limitations:
1. Data on building constructions are based on approved applications for construction during the reference period and not on the construction work completed during the reference period
2. The completeness of construction data relies on the approved applications filed with the LBOs. Hence, building constructions without approved building permits are not part of the tabulation of data.
Revision
All documents received after the cut-off date, which is 40 days after the reference quarter, are included in the generation of the revised results. The revised data of the previous quarter are reported during the release of the preliminary report of the current quarter. Revisions are made for the previous quarters until the annual report is released seven months after the reference year.
Definition of Terms:
Accessoria - A one or two-floor structure divided into several dwelling units, each dwelling unit having its own separate entrance from the outside.
Additions/Alterations and Repairs - Construction works by which the utility of building or structure is raised or at least renewed, or which materially extends the normal life of the building or structure.
Apartment - A structure, usually of two story, made up of independent living quarters, with independent entrances from internal walls and courts.
Building - Any independent, freestanding structure comprised of one or more rooms or other spaces, covered by a roof, and enclosed with external walls or dividing walls, which extend the foundation to the roof.
Building Permit - A written authorization granted by the Local Building Official (LBO) to an applicant allowing him to proceed with the construction of a specific project after plans, specifications and other pertinent documents have been found to be in conformity with the National Building Code (PD 1096).
Duplex - A structure intended for two households, with complete living facilities for each; it is a single structure divided into two dwelling units by a wall extending from the floor to the ceiling.
Floor Area of Building - The sum of the area of each floor of the building measured to the outer surface of the outer walls including the area of lobbies, cellars, elevator shafts and all communal spaces in multi-dwellings. Areas of balconies are excluded.
Non-Residential Building - This type includes commercial, industrial, agricultural, and institutional buildings.
Other residential constructions - Consist of school or company staff houses, living quarters for drivers and maids and guardhouses.
Residential Building - A building for which its major parts or more than half of its gross floor area is built for dwelling purposes. This type of building can be of the single type, duplex, an apartment and/or accessoria and residential condominium.
Residential Condominium - A structure, usually of several story, consisting of multiple dwelling units.
Single House - A complete structure intended for a single family.
Total Value of Construction - The sum of the cost of building, electrical, mechanical, plumbing and others. The value is derived from the approved building permit and represents the estimated value of the building or structure when completed.
SGD. WILMA A. PERANTE
Regional Director
