The number of constructions from approved building permits in April 2024 reached 834. This indicates an annual decrease of 29.9 percent from the 642 total number of constructions in the same month of the previous year. The number of constructions in March 2024 rose at annual rate of 18.1 percent. (Table A)

By type of construction, residential buildings reported the highest number with 490 constructions or 58.8 percent of the total number of constructions during the month.  This indicates an annual increase of 19.8 percent from the same month of the previous year’s level of 409 constructions. Majority of the total residential constructions were single - type houses with 448 (91.4%). (Table A, Figure 1)

Meanwhile, non-residential type of constructions was the second highest in terms of number of constructions of 236 or 28.3 percent of the total number of constructions during the month. This type of construction increased during the period at an annual rate of 47.5 percent. Most of the non-residential constructions were commercial buildings with 158 (66.9%) (Figure 1).

Addition, which refers to any new construction that increases the height or area of an existing building, and alteration and repair of existing structures contributed 11.4 percent. Compared with their respective numbers in the same period of the previous year, addition-type of construction retained at zero while alteration and repair posted an annual increase of -2.7 percent (Table A).

Residential buildings recorded the highest value of constructions

In April 2024, the total value of constructions amounted to PhP 2,165,426 million, reflecting an annual decline of 49.4 percent from the PhP 1,449,229 million value of constructions posted in the same month of the previous year. (Table A, Figure 2)

Residential building constructions valued at PhP 840,875 thousand accounted for 38.8 percent of the total value of constructions during the period. This indicates an increase of 7.4 percent from the PhP 782,936 thousand construction value of residential buildings recorded in the same month of 2023. Among residential constructions, single type of houses had the highest value of constructions at PhP 770,693 thousand (91.7%). (Figure 2)

On the other hand, the construction value of non-residential buildings amounted to PhP1,231,290 million or 56.9 percent of the total construction value in April 2024. This reflects an increment of 98.0 percent from the PhP 621,759 thousand value of constructions of non-residential buildings reported in the same month of the previous year. 

In April 2024, the value of constructions for addition to, and alteration and repair to existing structures were recorded at PhP15,676 thousand (0.72%) and PhP 77,586 thousand (3.6%), respectively. Compared with their respective values in the same month of the previous year, alteration and repair posted an annual increase of 3.6 percent from an annual growth rate of 74.2 percent. 

Non-residential buildings more than half of the total floor area of constructions 

The total floor area of constructions for this month was recorded at 219,541 thousand square meters. This corresponds to an annual increase of 78.8 percent from the recorded 122,786 thousand square meters floor area in the same period of the previous year.  (Table A, Figure 3)

Non-residential constructions posted 146,557 thousand square meters or 66.8 percent of the total floor area of constructions this period. This reflects an annual increment of 192.5 percent from the floor area of 50,103 thousand square meters in the same month of 2023.

Meanwhile, residential constructions recorded 71,180 thousand square meters or 32.4 percent of the total floor area of constructions in April 2024. It decreased at an annual rate of -2.1 percent from the previous year’s same month floor area of 72,683 thousand square meters. 

Residential buildings had the highest average cost of constructions
 

The average cost of construction in April 2024, excluding those for alteration and repair, and other non-residential was recorded at PhP 9,454.91 per square meter. This was -19.9 percent lower than the average cost of PhP11,802.88 per square meter in 2023 (Table A).

By type of construction, residential buildings had the highest average cost of PhP 11,813.36 per square meter during the month. This was followed by non-residential constructions with PhP8,318.91 per square meter, and addition to existing constructions with PhP 8,689.58 per square meter.

Among residential constructions, single type houses posted the highest average cost of PhP 11,922.30 per square meter during the period, while duplex/quadruplex recorded the lowest average cost of PhP9,196.18 per square meter. (Figure 4A)

Across non- residential constructions, institutional building reported the highest average cost of PhP 14,479.39 per square meter. On the other hand, agricultural building registered the lowest average cost of PhP 3,301.38 per square meter. (Figure 4B)