The region’s total number of constructions decreased by 15.0 percent, from 1,238 constructions recorded in the 4th quarter of 2022 to 1,052 constructions in the 4th quarter of 2023.

The regional decrease was brought about by the 29.0 percent drop in the number of residential buildings, from 821 constructions in the 4th quarter of 2022 to 583 constructions in the 4th quarter of 2023. On the other hand, the combined number of additions/alterations and repair of existing structures grew by 21.6 percent, from 102 constructions in the 4th quarter of 2022 to 124 constructions in the 4th quarter of 2023. The number of non – residential buildings also went up by 9.5 percent, posting 345 constructions in the 4th quarter of 2023 from 315 constructions in the 4th quarter of 2022.

In the 4th quarter of 2023, the number of residential buildings comprised more than half or 55.4 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 32.8 percent and 11.8 percent, respectively.

VALUE OF CONSTRUCTIONS

The total value of constructions in the region in the 4th quarter of 2023 was estimated at PhP 2.36 billion. This figure is 8.9 percent lower than the PhP 2.59 billion total value of constructions in the 4th quarter of 2022. This decline was attributed to the 23.2 percent decrease in the total value of residential buildings, from PhP 1.19 billion in the 4th quarter of 2022 to PhP 0.92 billion in the 4th quarter of 2023. The 0.4 percent decrease in the total value of non - residential buildings also contributed to the decrease in the total value of constructions. The total value of non – residential buildings went down to PhP 1.27 billion in the 4th quarter of 2023 from PhP 1.28 billion in the 4th quarter of 2022. Meanwhile, the total value of additions/alterations and repair of existing structures increased to PhP 0.17 billion in the 4th quarter of 2023 from PhP 0.12 billion in the 4th quarter of 2022.

Non-residential buildings’ value of construction comprised more than half or 53.9 percent of the total value of constructions in the region. The value of construction of residential buildings contributed 38.9 percent. Meanwhile, additions/alterations and repairs accounted for 7.2 percent of the region’s total value of constructions in the 4th quarter of 2023.

AVERAGE COST PER SQUARE METER OF RESIDENTIAL BUILDINGS

Average cost per square meter of residential buildings in the region almost doubled (95.3%) in the 4th quarter of 2023. The estimated average cost surged to PhP 10,443 in the 4th quarter of 2023 from PhP 5,347 average cost in the same period of 2022.

Among the different types of residential buildings, single residential building registered the highest average cost per square meter at PhP 10, 522. This figure was higher by 4.4 percent compared with its PhP 10,076 per square meter level during the 4th quarter of 2022.

The average cost per square meter of duplex/quadruplex residential buildings was recorded at PhP 10,475 in the 4th quarter of 2023,41.6 percent higher from the PhP 7,400 per square meter level in the same period of 2022. Apartment/accessoria/others posted the lowest average cost per square meter at PhP 9,476 in the 4th quarter of 2023. This figure is more than three-folds (256.6%) higher from its PhP 2,658 average cost per square meter in the 4th 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 4th quarter of 2023 was estimated at PhP 9,370. This value was 14.3 percent lower compared with the PhP 10,934 average cost per square meter in the same period of 2022.

Among the different types of non-residential buildings, institutional buildings registered the highest average cost per square meter at PhP 12,138 in the 4th quarter of 2023. This was 8.3 percent higher compared with the PhP 11,203 average cost per square meter in the same quarter of 2022.
Average cost per square meter of industrial buildings was posted at PhP 10,373 in the 4th quarter of 2023. This figure was about half (49.1%) lower than the PhP 20,370 level in the 4th quarter of 2022.

Commercial buildings’ average cost per square meter registered a 9.2 percent decrease in the 4th quarter of 2023. It went down to PhP 8,803 during the reference period from PhP 9,698 in the 4th quarter of 2022.

Agricultural buildings, meanwhile, posted the lowest average cost per square meter during the quarter in review at PhP 2,538. This value registered a 54.0 percent drop from the P 5,522 average cost per square meter in the 4th 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