The number of constructions from approved building permits in November 2024 reached 645. This indicates an annual increase of 2.7 percent from the 628 total number of constructions in the same month of the previous year. The number of constructions in November 2023 increased at annual rate of 0.2 percent. (Table A)

By type of construction, residential buildings reported the highest number with 367 constructions or 56.9 percent of the total number of constructions during the month.  This indicates an annual increase of 4.0 percent from the same month of the previous year’s level of 353 constructions. Majority of the total residential constructions were single - type houses with 336 (91.6%). (Table A, Figure 1)

Meanwhile, non-residential type of constructions at 165 or 25.6 percent of the total number of constructions during the month. This type of construction increased during the period at an annual rate of 0.6 percent. Most of the non-residential constructions were commercial buildings with 108 (65.5%) (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 16.4 percent. Compared with their respective numbers in the same period of the previous year, addition-type of construction posted 46 number during the month while alteration and repair posted an annual decrease of -45.9 percent (Table A).

Residential buildings recorded the highest value of constructions

In November 2024, the total value of constructions amounted to PhP 1,938,821 million, reflecting an annual increment of 21.3 percent from the PhP 1,598,012 million value of constructions posted in the same month of the previous year. (Table A, Figure 2)

Residential building constructions valued at PhP 785,525 thousand accounted for 40.5 percent of the total value of constructions during the period. This indicates increase of 33.5 percent from the PhP 588,254 thousand construction value of residential buildings recorded in the same month of 2023. Among residential constructions, single house buildings had the highest value of constructions at PhP 668,646 thousand (85.1%). (Figure 2)

On the other hand, the construction value of non-residential buildings amounted to PhP985,370 thousand or 50.8 percent of the total construction value in November 2024. This reflects increment of 28.6 percent from the PhP 766,116 thousand value of constructions of non-residential buildings reported in the same month of the previous year. 

In November 2024, the value of constructions for addition to, and alteration and repair to existing structures were recorded at PhP18,292 thousand (0.9%) and PhP 77,121 thousand (4%), respectively. Compared with their respective values in the same month of the previous year, alteration and repair posted an annual decrease of -68.3 percent from an annual growth rate of -7.2 percent. 

Residential buildings recorded highest total floor area 

The total floor area of constructions for this month was recorded at 150,775 thousand square meters. This corresponds to an annual increase of 11.8 percent from the recorded 134,822 thousand square meter floor area in the same period of the previous year.The total floor area of constructions for this month was recorded at 150,775 thousand square meters. This corresponds to an annual increase of 11.8 percent from the recorded 134,822 thousand square meter floor area in the same period of the previous year.  (Table A, Figure 3)

Residential constructions posted 61,849 thousand square meters or 41 percent of the total floor area of constructions this period. This reflects an annual increment of 10.1 percent from the floor area of 56,189 thousand square meters in the same month of 2023.

Meanwhile, non- residential constructions recorded 87,134 thousand square meters or 57.8 percent of the total floor area of constructions in November 2024. It increased at an annual rate of 10.8 percent from the previous year’s same month floor area of 78,633 thousand square meters.

Residential buildings had the highest average cost of constructions

The average cost of construction in November 2024, excluding those for alteration and repair, and other non-residential was recorded at PhP12,308.44 per square meter. This was 22.5 percent higher than the average cost of PhP10,043.95 per square meter in 2023 (Table A).

By type of construction, residential buildings had the highest average cost of PhP 12,700.70 per square meter during the month. This was followed by non-residential constructions with PhP11,2241.01per square meter, and addition to existing constructions with PhP 10,207.68 per square meter. 

Among residential constructions, single house building posted the highest average cost of PhP 13,034.28 per square meter during the period, while apartment accessoria  recorded the lowest average cost of PhP11,078.63 per square meter. (Figure 4A)

Across non- residential constructions, institutional building reported the highest average cost of PhP 18,483.27 per square meter. On the other hand, agricultural building registered the lowest average cost of PhP 3,310.34 per square meter. (Figure 4B)