Construction Statistics from Approved Building Permits October 2024

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Philippine Statistics Agency |Release Date : Friday, December 20, 2024 | Reference Number : 2024-SSO-204

1. Number of Constructions

Residential buildings had the highest number of constructions

The number of constructions from approved building permits in October 2024 reached 13,848. This indicates an annual increase of 4.0 percent from the 13,312 total number of constructions in the same month of the previous year. Meanwhile, the number of constructions in September 2024 increased at an annual rate of 7.6 percent. (Tables A and 1)

By type of construction, residential buildings reported the highest number of constructions at 9,003 or 65.0 percent of the total number of constructions during the month. It recorded an annual increase of 5.4 percent from the same month of the previous year’s level of 8,539 constructions. Majority of the total residential constructions were single-type houses with 6,892 constructions (76.6%). (Figure 1a, and Tables A and 1)

Meanwhile, non-residential type of construction was the second highest in terms of number of constructions at 2,873 or 20.7 percent of the total number of constructions during the month. This type of construction decreased during the period at an annual rate of 2.2 percent. Most of the non-residential constructions were commercial buildings with 1,979 constructions (68.9%). (Figure 1b, and Tables A and 1)

Addition, which refers to any new construction that increases the height or area of an existing building, and other constructions both contributed 3.0 percent, while alteration and repair of existing structures contributed 8.3 percent to the total number of constructions, respectively. Compared with their respective numbers in the same period of the previous year, the annual rates for these types of construction declined by 20.6 percent for addition, while it increased for alteration and repair, and other constructions by 9.7 percent and 53.7 percent, respectively. (Tables A and 1)

2. Value of Constructions

Non-residential buildings recorded the highest value of constructions

In October 2024, the total value of constructions amounted to PhP 44.39 billion, reflecting an annual increase of 21.9 percent from the PhP 36.40 billion value of constructions posted in the same month of the previous year. (Tables A and 1)

Non-residential building constructions valued at PhP 21.75 billion accounted for almost half (49.0%) of the total value of constructions during the period. This indicates an increase of 35.8 percent from the PhP 16.01 billion construction value of non-residential buildings recorded in the same month of 2023. Among non-residential constructions, commercial-type buildings had the highest value of constructions at PhP 11.12 billion (51.1%). (Figure 2b, and Tables A and 1)

On the other hand, the construction value of residential buildings amounted to PhP 18.88 billion or 42.5 percent of the total construction value in October 2024. This reflects an increment of 19.6 percent from the PhP 15.79 billion value of constructions of non-residential buildings reported in the same month of the previous year. Among residential buildings, single-type buildings registered the highest value of constructions at PhP 10.85 billion (57.4%). (Figure 2a, and Tables A and 1)

In October 2024, the value of constructions for addition, alteration and repair to existing structures, and other constructions were recorded at PhP 0.45 billion (1.0%), PhP 2.79 billion (6.3%), and PhP 0.51 billion (1.1%), respectively. Compared with their respective values in the same month of the previous year, addition to existing structures and alteration and repair recorded annual decreases of 4.2 percent and 22.9 percent, during the period, respectively. On the other hand, other constructions exhibited annual increase of 2.5 percent in October 2024. (Tables A and 1)

3. Floor Area

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

The total floor area of constructions for this month was recorded at 3.87 million square meters. This excludes alteration and repair, other non-residential such as facade, helipad, niche, water tank, etc., and other constructions, which include demolition, street furniture, landscaping, and signboards, since there is no reported floor area for these types of constructions. The total floor area in October 2024 registered an annual expansion of 40.9 percent from the recorded 2.75 million square meters floor area in the same period of the previous year. (Tables A and 1)

Non-residential constructions posted 2.18 million square meters or 56.3 percent of the total floor area of constructions this month. This reflects an annual increase of 60.4 percent from the floor area of non-residential constructions at 1.36 million square meters in the same month of 2023.

Meanwhile, residential constructions recorded 1.65 million square meters or 42.6 percent of the total floor area of constructions in October 2024. It increased at an annual rate of 23.1 percent from the previous year’s same month floor area of 1.34 million square meters. (Tables A and 1)

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