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 2024, 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.

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 of construction per square meter was estimated at PhP 10,443 for residential buildings and PhP 9,370 for non – residential buildings.

Data were based on the preliminary results of construction statistics from approved building permits.

For inquiries and further information, please contact our office at telephone number (053) 839-1884 or email addresses rsso08socd@psa.gov.ph.

SGD. WILMA A. PERANTE
Regional Director