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Manila Bulletin devider Business devider Approved Construction permits surge 12.8% in April

Approved Construction permits surge 12.8% in April

Published Jun 20, 2024 04:53 am

Approved building permits rose 12.8 percent in April from a year ago as more residential and non-residential projects were started.

A report from the Philippine Statistics Authority (PSA) showed that construction starts, measured by building permit approvals, totaled 13,332 during the month, an increase from 11,822 in the same month last year.

The total value of the building constructions reached P39 billion, representing a 30.8 percent increase from the P29.82 billion recorded in the same month last year.

Residential construction continued to hold most construction activities, with 8,764 constructions and a 9.2 year-on-year increase. Most of the total residential constructions were single-type houses, with 7,202 or 82.2 percent.

Non-residential activities, which accounted for 22.9 percent of the total, grew year on year to 18.3 percent or 3,057 constructions, wherein most of the constructions were commercial buildings with 2,165 constructions.

Among the types of constructions, non-residential buildings had the highest value at P17.54 billion, accounting for 45.0 percent of the total value of constructions during the period.

This indicates an increase of 27.2 percent from the P13.79 billion construction value recorded in the same month of 2023. Commercial-type buildings had the highest value of non-residential construction at P6.26 billion.

Meanwhile, the construction value of residential buildings amounted to P17.09 billion or 43.8 percent of the total construction value, reflecting an increment of 31.9 percent from the P12.95 billion value of constructions reported in the same month of the previous year.

Single-type houses registered the highest construction value among residential buildings at P11.57 billion.

CALABARZON (Cavite, Laguna, Batangas, Rizal, and Quezon) had the highest number of constructions during April, with 3,339 constructions, followed by Central Luzon (2,076 constructions) and Central Visayas (1,558). Together, these three regions contributed more than half, or 52.3, of the total construction activities during the month.

Central Luzon had the highest construction value at P7.85 billion, followed by CALABARZON with P7.80 billion, and the National Capital Region with P6.56 billion.

According to the statistics agency, the average construction cost per square meter dropped by 2.2 percent to P10,664.42 from P10,909.05 last year.

Related Tags

Philippine Statistics Authority (PSA) Philippine building permit Philippine construction sector
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