The region’s total number of constructions increased by 36.2 percent, from 1,052 constructions recorded in the 4th quarter of 2023 to 1,433 constructions in the 4th quarter of 2024.

The regional increase was brought about by the 49.9 percent growth in the number of residential buildings, from 583 constructions in the 4th quarter in 2023 to 874 constructions in the 4th quarter of 2024. The number of non-residential buildings also went up by 45.2 percent, from 345 constructions in the 4th quarter of 2023 to 501 constructions in the 4th quarter of 2024. On the other hand, the combined number of additions/alterations and repairs decreased by 53.2 percent, recording 58 constructions in the 4th quarter of 2024 from 124 constructions in the 4th quarter of 2023.

In the 4th quarter of 2024, the number of residential buildings comprised 61.0 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 35.0 percent and 4.0 percent, respectively.

VALUE OF CONSTRUCTIONS

The total value of constructions in the region more than doubled (103.3%) in the 4th quarter of 2024 at PhP 4.8 billion from PhP 2.4 billion total value of constructions in the 4th quarter of 2023. This spike was attributed to the increase in the value of construction for non-residential buildings which more than doubled (122.2%), from PhP 1.3 billion in the 4th quarter of 2023 to PhP 2.8 billion in the 4th quarter of 2024.

The total value of residential buildings increased by 67.6 percent, from PhP 0.9 billion in the 4th quarter of 2023 to PhP 1.5 billion in the 4th quarter of 2024. In addition, 153.2 percent growth in the total value of addition/alteration and repair of exisiting structures, from PhP 0.2 billion in the 4th quarter of 2023 to PhP 0.4 billion in the 4th quarter of 2024.

In terms of share to total value of construction, non-residential buildings’ value of construction comprised the bulk at 59.0 percent. The value of construction of residential buildings contributed 32.0 percent, while additions/alterations and repairs accounted for 9.0 percent of the region’s total value of constructions in the 4th 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 11,152 in the 4th quarter of 2024, higher by 6.8 percent than the PhP 10,443 average cost in the same period of 2023.

Among the different types of residential buildings, apartment/accessoria/others residential building registered the highest average cost per square meter at PhP 11,479. This figure was higher by 21.1 percent compared to the PhP 9,476 per square meter cost during the 4th quarter of 2023.

The average cost per square meter of single residential building was recorded at PhP 11,151 in the 4th quarter of 2024, 6.0 percent higher than the PhP 10,522 per square meter level in the same period of 2023. Duplex/quadruplex posted the lowest average cost per square meter at 10,753 in the 4th quarter of 2024. This figure was 2.7 percent higher than the 10,475 average cost per square meter in the 4th quarter 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 4th quarter of 2024 was estimated at PhP 14,521. This value was 55.0 percent higher compared with the PhP 9,370 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 21,375 in the 4th quarter of 2024. This was 76.1 percent higher compared with the PhP 12,138 average cost per square meter in the same quarter of 2023.

Average cost per square meter of industrial buildings was posted at PhP 12,607 in the 4th quarter of 2024. This figure was 21.5 higher than the PhP 10,373 figure in the 4th quarter of 2023.

Agricultural buildings’ average cost per square meter more than tripled (258.4%) in the 4th quarter of 2024. It rose to PhP 9,097 during the reference period from PhP 2,538 in the 4th quarter of 2023.

Commercial buildings, meanwhile, posted the lowest average cost per square meter during the quarter in review at PhP 8,395. This value registered 4.6 percent decrease from the PhP 8,803 average cost per square meter in the 4th 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