September 17, 2018
TACLOBAN CITY – The region’s total number of constructions in the second quarter of 2018 reached 1,244. This reflected an increase of 4.8% from the 1,187 constructions recorded in the same quarter of 2017.
By type of construction, the number of residential building constructions decreased to 843 constructions in the second quarter of 2018 from 894 constructions in the second quarter of 2017, a decline by 5.7%.
The number of non-residential building constructions went up by 14.5% reaching to 205 constructions in the second quarter of 2018 from 179 constructions in the same period of 2017.
The combined number for additions/alterations and repairs of existing structures significantly increased to 196 constructions during the quarter in review from 114 constructions in the second quarter of 2017, a surge by 71.9%.
Majority (67.8%) of the constructions were residential buildings. Non-residential buildings comprised 16.5%, while additions/alterations and repairs accounted for 15.8% of the region’s total constructions.
The total value of constructions in the region during the second quarter of 2018 was estimated at P2.4 billion. This figure is 10.8% higher compared with the P2.2 billion total value of constructions in the same quarter of 2017.
By type of construction, the total value of additions/alterations and repairs more than doubled, posting an increase of 112.5%, from P87.2 million in the second quarter of 2017 to P185.2 million during the quarter in review.
Similarly, aggregate value of residential building constructions increased by 24.4%, from P911.5 million in the same period of 2017 to P1.1 billion in the second quarter of 2018.
On the other hand, total value of Non-Residential Buildings declined by 7.1% to P1.1 billion in the second quarter of 2018 from P1.2 billion in the second quarter of 2017.
Total value of Residential Building in the region comprised the largest share in terms of value at 46.9%. Value of constructions of Non-Residential Building contributed 45.5%, while Additions/Alterations and Repairs accounted for 7.7% of the region’s total value of construction.
Average cost per square meter was estimated at P8,198 for Residential Building and P8,926 for Non-Residential Building.
Data were based on the preliminary results of construction statistics from approved building permits.