The region’s total number of constructions increased by 5.1 percent, from 1,344 constructions recorded in the 3rd quarter of 2023 to 1,413 constructions in the 3rd quarter of 2024.

The regional increase was brought about by the 11.9 percent growth in the non-residential buildings with 421 constructions in the 3rd quarter of 2023 to 471 constructions in the 3rd quarter of 2024. The number of residential buildings also went up by 5.1 percent, from 804 constructions in the 3rd quarter of 2023 to 845 constructions in the 3rd quarter of 2024. On the other hand, the combined number of additions/alterations and repairs decreased by 18.5 percent, posting 97 constructions in the 3rd quarter of 2024 from 119 construction in the 3rd quarter of 2023.

In the 3rd quarter of 2024, the number of residential buildings comprised 59.8 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 33.3 percent and 6.9 percent, respectively.

VALUE OF CONSTRUCTIONS

The total value of constructions in the region in the 3rd quarter of 2024 was estimated at PhP 3.8 billion. This figure is 25.0 percent higher than the PhP 3.0 billion total value of constructions in the 3rd quarter of 2023. This increase was attributed to the 52.5 percent growth in the total value of non-residential buildings, from PhP 1.5 billion in the 3rd quarter of 2023 to PhP 2.3 billion in the 3rd quarter of 2024.

The total value of residential buildings also increased by 2.9 percent from PhP 1.20 billion in 3rd quarter of 2023 to PhP 1.24 billion in the 3rd quarter of 2024. Meanwhile, the total value of additions/alterations and repair of existing structures went down by 25.6 percent from PhP 0.3 billion in the 3rd quarter of 2023 to PhP 0.2 billion in the 3rd quarter of 2024.

In terms of share to total value of construction, non-residential buildings’ value of construction comprised the bulk at 61.3 percent. The value of construction of residential buildings contributed 32.6 percent, while, additions/alterations and repairs accounted for 6.1 percent of the region’s total value of constructions in the 3rd quarter of 2024.

AVERAGE COST PER SQUARE METER OF RESIDENTIAL BUILDINGS

Average cost per square meter of residential buildings in the region increased to PhP 11,108 in the 3rd quarter of 2024, higher by 5.3 percent than the PhP 10,534 average cost in the same period of 2023.

Among the different types of residential buildings, single residential building registered the highest average cost per square meter at PhP 11,124. This figure was higher by 2.8 percent compared to the PhP 10,819 per square meter cost during the 3rd quarter of 2023.

The average cost per square meter of apartment/accessoria/others was recorded at PhP 10,291 in the 3rd quarter of 2024, 22.5 percent higher than the PhP 8,401 per square meter level in the same period of 2023.

AVERAGE COST PER SQUARE METER OF NON-RESIDENTIAL BUILDINGS

Average cost per square meter of non-residential buildings in the region in the 3rd quarter of 2024 was estimated at PhP 12,261. This value was 26.5 percent higher compared to the PhP 9,692 average cost per square meter in the same period of 2023.

Among the different types of non-residential buildings, institutional buildings registered the highest average cost per square meter at PhP 14,177 in the 3rd quarter of 2024. This was 8.0 percent higher compared to the PhP 13,126 average cost per square meter in the same quarter of 2023.

Average cost per square meter of commercial buildings was posted at PhP 11,591 in the 3rd quarter of 2024. This figure was 26.3 higher than the PhP 9,177 figure in the 3rd quarter of 2023.

Industrial buildings’ average cost per square meter increased by 36.6 percent in the 3rd quarter of 2024. It rose to PhP 9,011 during the reference period from PhP 6,598 in the 3rd quarter of 2023.

Agricultural buildings, meanwhile, posted the lowest average cost per square meter during the quarter in review at PhP 5,117. This value registered a 50.4 percent increase from the PhP 3,402 average cost per square meter in the 3rd quarter of 2023.

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