The number of constructions from approved building permits in December 2024 reached 493 This indicates an annual decrease of -11.8 percent from the 559 total number of constructions in the same month of the previous year. The number of constructions in December 2023 decreased at annual rate of -1.9 percent. (Table A)

By type of construction, residential buildings reported the highest number with 287 constructions or 58.2 percent of the total number of constructions during the month.  This indicates an annual decrease of -16.3 percent from the same month of the previous year’s level of 343 constructions. Majority of the total residential constructions were single - type houses with 256 (89.2%). (Table A, Figure 1)

Meanwhile, non-residential type of constructions at 120 or 24.3 percent of the total number of constructions during the month. This type of construction decreased during the period at an annual rate of -9.8 percent. Most of the non-residential constructions were commercial buildings with 71 (59.2%) (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 17.4 percent. Compared with their respective numbers in the same period of the previous year, addition-type of construction posted 35 number during the month while alteration and repair posted an annual decrease of -36.3 percent (Table A).

Non- Residential buildings recorded the highest value of constructions

In December 2024, the total value of constructions amounted to PhP 1,650,141 million, reflecting an annual increment of 21.6 percent from the PhP 1,356,536 million value of constructions posted in the same month of the previous year. (Table A, Figure 2)

Non- residential building constructions valued at PhP 908,420 thousand accounted for 46.5 percent of the total value of constructions during the period. This indicates increase of 55.1 percent from the PhP 620,169 thousand construction value of non- residential buildings recorded in the same month of 2023. Among non-residential constructions, institutional buildings had the highest value of constructions at PhP 643,364 thousand (70.8%). (Figure 2).

On the other hand, the construction value of residential buildings amounted to PhP592,412 thousand or -10.0 percent of the total construction value in December 2024. This reflects decrement of 35.9 percent from the PhP 658,506 thousand value of constructions of residential buildings reported in the same month of the previous year. 

In December 2024, the value of constructions for addition to, and alteration and repair to existing structures were recorded at PhP11,160 thousand (0.7%) and PhP 138,150 thousand (8.4%), respectively. Compared with their respective values in the same month of the previous year, alteration and repair posted an annual increase of 86.7 percent from an annual growth rate of -64.3 percent.   

Non- residential buildings recorded highest total floor area 

The total floor area of constructions for this month was recorded at 126,952 thousand square meters. This corresponds to an annual increase of 10 percent from the recorded 115,456 thousand square meter floor area in the same period of the previous year.  (Table A, Figure 3)

Non-residential constructions posted 78,857 thousand square meters or 62.1 percent of the total floor area of constructions this period. This reflects an annual decrement of 42 percent from the floor area of 55,534 thousand square meters in the same month of 2023.

Meanwhile, residential constructions recorded 46,837 thousand square meters or 36.9 percent of the total floor area of constructions in December 2024. It decreased at an annual rate of -21.2 percent from the previous year’s same month floor area of 59,455 thousand square meters.

Residential buildings had the highest average cost of constructions

The average cost of construction in December 2024, excluding those for alteration and repair, and other non-residential was recorded at PhP11,890.26 per square meter. This was 7.3 percent higher than the average cost of PhP11,081.60 per square meter in 2023 (Table A).

By type of construction, residential buildings had the highest average cost of PhP12,648.37 per square meter during the month. This was followed by non-residential constructions with PhP11,488.15 per square meter, and addition to existing constructions with PhP 8,871.12 per square meter. 

Among residential constructions, duplex/quadruplex building posted the highest average cost of PhP 13,078.90 per square meter during the period, while apartment accessoria  recorded the lowest average cost of PhP9,312.41 per square meter. (Figure 4A)

Across non- residential constructions, institutional building reported the highest average cost of PhP 14,322.13 per square meter. On the other hand, agricultural building registered the lowest average cost of PhP 2,812.64 per square meter. (Figure 4B)