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Highlights of Eastern Visayasí construction statistics: 4th quarter 2017

By PSA-8
March 28, 2018

TACLOBAN CITY Ė The regionís total number of constructions in the fourth quarter of 2017 reached 669. This reflected a decrease of 56.5% from the 1,539 constructions recorded during the same quarter in 2016.

Data were based on the preliminary results of construction statistics from approved building permits.

By type of construction, Residential Building constructions declined by 72.8%, from 1,248 constructions in the fourth quarter of 2016 to 339 constructions in the fourth quarter of 2017.

On the other hand, Non-Residential Building constructions increased by 12.2%, from 181 constructions in the fourth quarter of 2016 to 203 constructions in the same period of the 2017.

Similarly, combined number for Additions/Alterations and Repairs of existing structures went up by 15.5%, from 110 constructions in the fourth quarter of 2016 to 127 constructions during the quarter in review.

A little more than half (50.7%) of the constructions were Residential Buildings. Non-Residential Buildings comprised 30.3%, while Additions/Alterations and Repairs accounted for 19.0% of the regionís total constructions.

The total value of constructions in the region during the fourth quarter of 2017 was estimated at P1.9 billion. This figure is 36.1% lower compared with the P3.0 billion total value of constructions during the same quarter in 2016.

Total value of Residential Building constructions significantly dropped by 76.6%, from P1.9 billion in the fourth quarter of 2016 to P4.4 million in the same period in 2017.

Similarly, aggregate value of Additions/Alterations and Repairs declined by 34.5%, from P87.9 million in the fourth quarter of 2016 to P57.5 million in the fourth quarter of 2017.

On the other hand, total value of Non-Residential Buildings increased by 34.9%, from P1.1 billion in the fourth quarter of 2016 to P1.4 billion during the quarter in review.

Total value of Non-Residential Building in the region comprised the largest share in terms of value at 74.4%. Value of constructions of Residential Building contributed almost a quarter (22.7%), while Additions/Alterations and Repairs accounted for 3.0% of the regionís total value of construction.

Average cost per square meter of residential buildings

Average cost per square meter of Residential Buildings in the region for the fourth quarter of 2017 was estimated at P8,811, higher by 3.1% compared with the P8,544 average cost in the same period last year.

Among the different types of residential buildings, Single type reported higher average cost per square meter at P8,639 during the reference period from P7,740 per square meter in the same period in 2016.

Similarly, average cost per square meter for Apartment/Accessoria/Others increased by 12.6%, from P8,761 in the fourth quarter of 2016 to P9,868 in the same quarter in 2017. It reported the highest average cost per square meter among residential buildings.

On the other hand, average cost of Duplex/Quadruplex decreased by 19.1%, from P10,089 in the fourth quarter of 2016 to P8,167 during the quarter in review.

Average cost per square meter of non-residential buildings

Average cost per square meter of Non-Residential Buildings in the region for the fourth quarter of 2017 was estimated at P7,237, lower by 18.7% compared with the P8,903 average cost in the same period last year.

Among the different types of non-residential buildings, Commercial Buildings reported lower average cost per square meter at P6,867 during the reference period from P8,681 per square meter in the same period in 2016.

Similarly, average cost per square meter for Institutional Buildings decreased by 31.0%, from P10,556 in the fourth quarter of 2016 to P7,286 in the same quarter in 2017.

On the other hand, average cost of Agricultural and Other Non-Residential Buildings more than doubled, posting an increase of 114.0%, from P4,155 in the fourth quarter of 2016 to P8,891 in the fourth quarter of 2017. It reported the highest average cost per square meter among non-residential buildings.

Industrial Buildings likewise recorded higher average cost per square meter at P7,018 during the quarter in review from P4,992 per square meter in the same period in 2016.