The number of constructions from approved building permits in September 2024 reached 711. This indicates an annual decrease of -1.4 percent from the 721 total number of constructions in the same month of the previous year. The number of constructions in September 2023 increased at annual rate of 15.2 percent. (Table A)

By type of construction, residential buildings reported the highest number with 417 constructions or 58.6 percent of the total number of constructions during the month. This indicates an annual decrease of -3.0 percent from the same month of the previous year’s level of 430 constructions. Majority of the total residential constructions were single - type houses with 380 (91.1%). (Table A, Figure 1) 

Meanwhile, non-residential type of constructions was the second highest in terms of number of constructions of 172 or 24.2 percent of the total number of constructions during the month. This type of construction decreased during the period at an annual rate of -11.8 percent. Most of the non-residential constructions were commercial buildings with 109 (63.4%) (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 16.3 percent. Compared with their respective numbers in the same period of the previous year, addition-type of construction posted 41 number during the month while alteration and repair posted an annual increase of 4000.0 percent (Table A).

Residential buildings recorded the highest value of constructions

In September 2024, the total value of constructions amounted to PhP 2,059,777 million, reflecting an annual increment of 25.9 percent from the PhP 1,636,536 million value of constructions posted in the same month of the previous year. (Table A, Figure 2)

Residential building constructions valued at Ph 990,835 thousand accounted for 48.1 percent of the total value of constructions during the period. This indicates increase of 41 percent from the PhP 702,512 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 636,660 thousand (64.3%). (Figure 2)

On the other hand, the construction value of non-residential buildings amounted to PhP989,666 million or 48.0 percent of the total construction value in September 2024. This reflects increment of 15.1 percent from the PhP 859,881 thousand value of constructions of non-residential buildings reported in the same month of the previous year. 

In September 2024, the value of constructions for addition to, and alteration and repair to existing structures were recorded at PhP16,312 thousand (0.8%) and PhP 52,857 thousand (2.6%), respectively. Compared with their respective values in the same month of the previous year, alteration and repair posted an annual decrease of -26.3 percent from an annual growth rate of 182.8 percent.

Residential buildings recorded highest total floor area

The total floor area of constructions for this month was recorded at 203,014 thousand square meters. This corresponds to an annual increase of 22.0 percent from the recorded 166,467 thousand square meters floor area in the same period of the previous year. (Table A, Figure 3)

Residential constructions posted 96,270 thousand square meters or 47.4 percent of the total floor area of constructions this period. This reflects an annual increment of 41.7 percent from the floor area of 67,952 thousand square meters in the same month of 2023.

Meanwhile, non- residential constructions recorded 105,154 thousand square meters or 51.8 percent of the total floor area of constructions in September 2024. It increased at an annual rate of 7.0 percent from the previous year’s same month floor area of 98,305 thousand square meters. 

Residential buildings had the highest average cost of constructions

The average cost of construction in September 2024, excluding those for alteration and repair, and other non-residential was recorded at PhP9,791 per square meter. This was 4.5 percent higher than the average cost of PhP9,372.58 per square meter in 2023 (Table A).

By type of construction, residential buildings had the highest average cost of PhP 10,292 per square meter during the month. This was followed by non-residential constructions with PhP9,229 per square meter, and addition to existing constructions with PhP 10,259 per square meter.

Among residential constructions, single house building posted the highest average cost of PhP 12,174 per square meter during the period, while residential condominium recorded the lowest average cost of PhP7,552. per square meter. (Figure 4A)

Across non- residential constructions, institutional building reported the highest average cost of PhP 14,242 per square meter. On the other hand, agricultural building registered the lowest average cost of PhP 1,767 per square meter. (Figure 4B)