Construction activity up 2.6% in Q1

MANILA, Philippines — Construction activity in the country grew 2.6 percent in the first quarter as more non-residential buildings rise, according to the Philippine Statistics Authority (PSA). 

Based on preliminary results of the construction statistics from approved building permits, the total number of constructions in the first three months reached 36,002 projects, up from 35,101 recorded in the same quarter in 2017.

Fewer building permits were secured for the construction of residential buildings in the first quarter as seen in the 1.2 percent decline to 25, 362 projects from 25, 670 in the same period last year. PSA attributed this to diminished interest in building single-type houses, as well as apartments. 

 More building permits, meanwhile, were obtained for non-residential projects which saw an 11.8 percent increase to 5,587 projects from 4,997 last year. PSA said the double-digit growth was brought about by commercial buildings and institutional buildings. 

Additions to existing structures declined 6.2 percent to 1,293 projects in the first quarter from 1,379 during the same period of  2017.

Likewise, combined number of alterations and repairs of existing structures increased by 23.1 percent from 3,055 projects recorded in the previous year.

More than half of the number of these projects are situated in Calabarzon, Central Visayas, Central Luzon, National Capital Region and Ilocos region. 

At the provincial level, the top 10 provinces with the most number of construction activities were: Cavite, Cebu, Batangas, Bohol, Laguna, NCR fourth district, Iloilo, Negros Oriental, Negros Occidental and Pampanga. 

In terms of value, these projects bear an aggregate cost of P101.7 billion, up 32.8 percent compared with the registered amount of P76.6 billion in the first quarter of 2017.

Average cost per square meter for residential projects in the first quarter was estimated at P12,682, up 32 percent from the previous year’s average cost of P9,605.