Number of constructions posts two-digit growth in fourth quarter
Central Luzon’s total number of constructions in the fourth quarter of 2017 reached 3,611, based from the preliminary results of construction statistics from approved building permits. This represented a two-digit growth of 16.6 percent or 514 constructions from the 3,097 recorded during the same quarter of 2016.
The region’s share to the total number of constructions in the country improved by 1.2 percentage points, to 10.8 percent during the period from its 9.6 percent share in the fourth quarter of 2016.
Across the region, Bulacan still led the provinces in terms of the number of constructions, recording 1,081 or 29.9 percent share to total, followed closely by Pampanga with 1,070 or 29.6 percent share. Aurora, on the other hand, recorded the least with only 116 constructions (3.2%). Figure 1 presents the distribution of the number of constructions by province for the fourth quarter of 2017.
By type of construction, the number of residential constructions grew by 12.2 percent to 2,482 from 2,213 constructions recorded during the same period a year ago. This was mainly influenced by the three-digit growth in the construction of apartment/accessoria at 191.5 percent.
The number of non-residential constructions rose by 32.9 percent to 671 from 505 reported in the fourth quarter of 2016. All types of non-residential constructions except for agricultural recorded significant growth, namely: industrial (68.0%), institutional (62.1%), commercial (37.6%), and other non-residential (130.0%) constructions.
Addition to existing structures with 95 constructions slightly increased by 2.2 percent from 93 recorded in fourth quarter last year. Likewise, alteration and repair of existing structures grew by 4.9 percent to 300 constructions from 286 posted a year ago. Figure 2 compares the number of constructions by type for the fourth quarters of 2017 and 2016.
Total value of constructions up by 27.6 percent
Total value of constructions in the fourth quarter of 2017 was estimated at PHP7.8 billion, higher by 27.6 percent from previous year’s construction value of PHP6.1 billion.
Construction value of residential buildings amounting to PHP3.8 billion rose by 38.6 percent compared with the PHP2.8 billion registered during the same period a year ago. This was brought about by the increases in the construction value of apartment/accesoria buildings (253.2%), single-type houses (13.6%), and other types of residential buildings (17.2%).
Non-residential constructions valued at PHP3.2 billion posted 9.4 percent growth from PHP3.0 billion recorded during the same period in 2016. The increases in the construction value of institutional (175.1%), commercial (15.9%) and other types of non-residential (374.5%) constructions pulled up the total value of non-residential constructions.
Construction value of addition to existing structures improved by 75.2 percent to PHP178.6 million from previous year’s PHP101.9 million, while alteration and repair of existing structures estimated at PHP250.8 million declined by 10.9 percent from PHP281.5 million. Figure 3 compares the value of constructions by type for the fourth quarters of 2017 and 2016.
Residential constructions average cost, PHP9,287 per square meter
Average cost of residential constructions in the region for the fourth quarter of 2017 was estimated at PHP9,287 per square meter, higher by 2.0 percent compared with last year’s average cost of PHP9,104 per square meter. This was due to the two-digit increases in the average cost per square meter of apartment/accessoria (37.8%) and other types of residential buildings (10.9%).
At the provincial level, the highest average cost of residential constructions was recorded in Bataan at PHP11,402 per square meter while the lowest was in Aurora, PHP8,352.
Non-residential constructions average cost, PHP9,287 per square meter
Non-residential constructions average cost per square meter fell by 8.8 percent from PHP7,293 during the same period a year ago to PHP6,649. Decreases in the average cost per square meter of industrial (-41.9%), agricultural (-29.1%), and commercial (-13.3%) were observed during the quarter.